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In Ohio as in all other states, the federal Bankruptcy Code provides strong debt relief measures for qualified individuals and married couples. The protections for consumers filing bankruptcy are embodied in Chapter 7 or 13. Chapter 11 is a bankruptcy filing that generally is concerned with providing debt relief remedies for business entities. For individuals and married couples who have…
Dealing with a collection agency can be a stressful experience, and in some cases, agencies may go above and beyond what is allowed in an attempt to persuade a person in Ohio to make a payment. However, as many may be uncertain of their rights when dealing with similar issues, they might not be aware that this behavior is unlawful.…
Owning your own home is part of the quintessential American Dream. Unfortunately, for a large percentage of the U.S. population, this dream seems impossible. For many younger adults, low-income levels combined with high levels of personal debt make home ownership unattainable. Individuals with low incomes or substantial debt may struggle with mediocre credit and limited financial liquidity, as most of…
A medical emergency can occur at any moment, and the fallout of such an event could have a devastating impact on one’s finances. Medical debt continues to be a growing concern for many individuals in Ohio, and it remains one of the leading causes of bankruptcy filings. Those who feel they are drowning in medical bills may wish to know how…
There are many individuals in Ohio and across the nation who live with the mentality that purchasing a new car or home is as simple as taking out a loan. While at the time, one may be fully capable of making the required payments on the loan, and thus may feel there is little risk involved. Unfortunately, this mindset of buy…
There are many elderly individuals in Ohio and elsewhere who have experienced the tribulations of financial strain. With the nature of the impact similar concerns can have on one’s financial stability, these issues have left many searching through the available options for relief. Recent reports indicate that bankruptcy filings among older individuals have increased by as much as three times over…
Dealing with the stress of frequent collection calls can be stressful and daunting, and unfortunately for many individuals in Ohio, this is a reality. When speaking with a debt collection agency, some may feel it best to attempt to provide some form of payment. However, simply adhering to requests for repayment might not always be advisable, as some agencies could be…
Many people who have trouble paying bills and face mounting debt, also worry about the possible consequences. They may fear extreme ramifications such as going to jail or losing their home. These types of fears can be paralyzing and result in a failure to act at all which can exacerbate debt problems. In most cases, these fears are not warranted.…
Now that the holiday season has come and gone, many consumers in Ohio and elsewhere are left to face the fallout of their recent shopping endeavors. Getting the first credit card bill after the holidays can be extremely stressful. Some of those who are dealing with the after holiday debt blues may benefit from seeking advice on steps to take to…
Issues with debt can affect the lives of individuals in Ohio and elsewhere in a variety of ways. In some cases, substantial financial struggles could disrupt one’s ability to pursue his or her dreams of owning a home. Recent studies suggest that this is a concern for many millennials, as they may struggle to afford similar pursuits due to the…