Blog
People who are faced with overwhelming debt may be good candidates for Chapter 7 bankruptcy protection. Filing Chapter 7 bankruptcy is a way for a consumer to have most debts discharged, and emerge with a fresh financial start. Many Ohio consumers, however, might not understand exactly what it means to have debts discharged. A bankruptcy discharge essentially releases a consumer…
After years of negotiations and press scrutiny, five of the nation’s largest banks settled with both federal and state officials in early 2012. In their settlement, the banks assured officials and the American public that their widespread abuse of the foreclosure process was history not to be repeated ever again. Unfortunately, these promises remained intact for fewer than two years.…
Owning a small business in Ohio can be an immense source of pride. Unfortunately, even the most responsible, dedicated and optimistic small business owners can find themselves struggling with seemingly insurmountable debt loads. Whether you acquired the debt by investing in your business, protecting business assets by fighting necessary legal battles or some other means, if your debt is growing…
When individuals age, their finances do not necessarily mature at the same rates as they do. As a result, it is certainly possible and increasingly common to reach the age of retirement and beyond while still wrestling with seemingly unmanageable debt. Frustratingly, if this debt is not dealt with in a constructive way, not only will those in debt be…
When consumers are faced with harassment and other abuses committed by big banks, the law generally favors consumer protection but such protections can be difficult to enforce. One state has become frustrated enough on behalf of its citizens who are navigating a legally complex and often abusive web of credit card debt that it has said “enough.” California is currently…
When an individual’s debt becomes overwhelming, everyday decision-making can be affected by that reality. People struggling with debt may have less active social lives because they are trying to avoid spending money out on the town. College students may consciously try to eat every meal in the cafeteria in order to avoid food costs not associated with pre-paid meal plans.…
When individuals decide to file for bankruptcy, they may face a myriad of emotions as a result. Though bankruptcy can be a frustrating process and the prospect of a temporary credit score dip can be scary, filers also often find relief in knowing that certain assets are almost always protected during the process and will remain intact. Unfortunately, interpretation of…
Ohio House Bill 479 goes into effect on March 27, 2013. This law amends Ohio Revised Code Section 2329.66 and allows an individual to protect up to $125,000 in equity in a parcel of property used as a residence. Under prior law, an individual residing in Ohio could only protect $21,650.00 in equity in his or her homestead. This is…
When mortgage debt becomes overwhelming, seeking a loan modification may be an excellent option for you and your family. Under certain circumstances, a well-thought-out and carefully constructed loan modification can help homeowners avoid foreclosure. However, as loan modifications become increasingly popular, scammers have opted to try and take advantage of vulnerable homeowners with increasing frequency. Perhaps even more disturbing is…
When hardships occur, it can be comforting to know that other individuals have experienced the same hardship and have been able to move forward successfully in the aftermath. Since 2008, people all across the nation have struggled with financial challenges due to a sweeping financial crisis. Though the economy has been recovering slowly but steadily, only some individuals’ finances have…