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With the availability of online options and do-it-yourself instructions for just about every procedure, Ohio consumers who are experiencing financial problems may choose to search for remedies online. Online instructions may not cover all eventualities, and for a process such as a bankruptcy filing, obstacles may arise that need professional assistance. A skilled bankruptcy attorney can explain the pros and…
Adverse financial circumstances — often caused by employment loss or medical emergencies — can have severe consequences. Homeowners may even face foreclosure. If an Ohio homeowner is notified of imminent foreclosure, he or she may have questions about the possibility of keeping the home, and what can be done with an auction date looming. Foreclosures can be either judicial or…
When the debts become overwhelming, Ohio consumers may have questions about their options. While bankruptcy is likely the most appropriate way to achieve financial relief, some so-called priority debts are not dischargeable. These include secured debts such as car loans and mortgages that are secured by property that creditors can repossess to cover unpaid amounts. In Chapter 13, payments can…
The tremendous amount of credit card debt in the country is not only a national problem, but it also affects the lives of many consumers in Ohio. While bankruptcy is a viable option, consumers may want to compare the pros and cons of it with other debt relief options. The most appropriate first step is to make a list of…
Ohio consumers who have accumulated levels of credit card debt with which they feel uncomfortable may be looking at the available debt negotiation options. While some possibilities can be useful, the myths that surround this subject makes it difficult to make informed decisions. After considering all the choices, it may be wise to compare those with the protection offered by…
Ohio residents who have lost their jobs, incurred unanticipated medical expenses, gone through divorce or any other significant financial hardships may be considering their options. While personal bankruptcy may be the better choice for many — considering the protections offered by the federal Bankruptcy Code — many misconceptions or myths are linked to bankruptcy proceedings. The first myth is that…
Ohio consumers who have fallen on hard times due to any of the various unanticipated twists and turns life can dish out may be looking for ways to regain financial stability. Bankruptcy is often the most efficient way to achieve that. Knowing the consequences of filing for bankruptcy can help consumers determine if it is the best option for their circumstances.…
Consumers nationwide, including in Ohio, can be the victims of life’s unanticipated twists and turns. Job losses, car accidents or other unexpected occurrences can ruin any consumer’s budget in the blink of an eye. In many cases, consumers have no emergency funds, and the only answer is to use credit cards. This sets a debt spiral in motion as unpaid…
Many small business owners in Ohio open their new ventures with high expectations of success. Unfortunately, unforeseen circumstances sometimes lead to financial difficulties that are insurmountable. While small business bankruptcy is an option, deciding which bankruptcy chapter would be the most appropriate filing can be challenging. The first option to consider is liquidation through Chapter 7 bankruptcy. After the sale…