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Any homeowner in Ohio will do whatever is possible to maintain ownership of the property. Unfortunately, unforeseen circumstances sometimes jeopardize one’s financial stability, and a threat of foreclosure may become a reality. Certain steps can be taken in an effort to prevent foreclosure. If a homeowner is temporarily unable to make any mortgage payments, the lender may allow a forbearance…
Apparently, many millennials in Ohio and elsewhere are shying away from the use of credit cards. Mountains of student loan debt may be one reason. It also may be a response to the fact that many consumers sought bankruptcy protection during the recent recession because of overwhelming credit card debt. Millenials seem to prefer debit cards and cash rather than credit…
Unpaid debts can have a detrimental impact on the future financial stability of consumers in Ohio. A scarred credit score can jeopardize a person’s ability to obtain a mortgage, get financing for a car or rent accommodation. In many cases, the source of the debt is unanticipated medical debts, and, fortunately, there are manners in which the debt can be reduced,…
Credit cards are often the cause of consumers having to face mountains of debt with not enough funds to settle the bills. In fact, credit card debt has led to many bankruptcy filings in Ohio. One of the causes for spiraling credit card debt may be the fact that some consumers are unaware that making the minimum required payment every…
Ohio residents who are experiencing financial hardships and fear losing their homes may be considering their options. One of those is filing for bankruptcy, and the intention of the federal Bankruptcy Code is to help people to rebuild their lives. But will that save their homes? The answer depends on several aspects related to the unique circumstances of the individual…
Ohio consumers who are considering their options for eliminating overwhelming debt may be confused with the qualification requirements for each option. These requirements are unavoidable if they choose to file for bankruptcy and the protection it offers. While most people know that consumer debts, such as credit card and medical debt, can be discharged almost immediately through Chapter 7 bankruptcy,…
Consumers nationwide, including in Cincinnati are protected against debt collector abuse and harassment by creditors or their collection agents. The Fair Debt Collection Practices Act (FDCPA) says nobody may be harassed, oppressed or abused by debt collectors. Repetitive phone calls, profane or obscene language and threats of any kind are not allowed. Creditors or their agents must identify themselves when…
There are many advantages to having credit cards and likely just as many reasons not to have them. The successful navigation of credit card debt depends on the account holder’s ability to manage the payments. Many Ohio consumers file for bankruptcy protection to responsibly address past due payments that have simply become unmanageable. Often, the situation arises when unanticipated medical or…
Consumers in Ohio who are concerned about their struggle to manage monthly credit card payments because they have too many cards may be considering closing some of their cards. However, under certain circumstances, this may not be a wise decision. Although it is true that overwhelming credit card debt issues can possibly be resolved by filing for bankruptcy, there may…
Financial difficulties can lead to tension in relationships. While many Ohio couples may realize that personal bankruptcy may provide a fresh financial start, they may procrastinate because they have many unanswered questions. Although many may believe married couples have to file jointly for bankruptcy, this is a myth. One spouse can file individually. Filing for bankruptcy is an important step to…