Posts Categorized: Ohio Bankruptcy Exemptions

Chapter 7 Means Test 2015

Chapter 7 bankruptcy offers debtors serious relief. In a chapter 7 bankruptcy, you surrender non-exempt property to the court. That property is sold and used to pay your creditors. The rest of your unsecured debts are then discharged. Most debtors don’t have any non-exempt property, so they don’t have to give up property. That means… Read more »

Ohio’s Homestead Exemption Protects Your House in Bankruptcy

Ohio Homestead Protection

Last updated Jan. 30, 2018. Historically, a creditor could take everything you owned in payment of your debt. In the Middle Ages and before, creditors could even take possession of the children of a debtor or the debtor himself if he couldn’t pay. Today, debt slavery is forbidden by law (not to mention all moral… Read more »

Can I Keep My House in Ohio and File Bankruptcy?

Keep House in Bankruptcy

Last updated Feb. 26, 2018. Your home is one of your largest assets. Your mortgage is probably the largest loan you’ll ever take out. If you’re struggling to pay your bills, it’s also probably your biggest worry. Bankruptcy might be your best option, but what happens to your home when you file? Keeping Your House… Read more »

Ohio Bankruptcy Exemptions: What Property Can I Keep in Chapter 7?

Ohio Bankruptcy Exemptions Chapter 7 Bankruptcy Attorney

Last updated Nov. 28, 2017. If you are considering bankruptcy, you have probably found yourself wondering exactly what, if any, property you own can be taken to pay your creditors. In a bankruptcy case, your property is held in an estate that is managed by a trustee. Theoretically, the trustee is the person responsible for… Read more »

Will Filing for Bankruptcy Stop Foreclosure in Ohio?

Bankruptcy Stop Foreclosure Ohio

Last updated July 28, 2017. Yes, filing for bankruptcy will stop foreclosure in Ohio, or any other state for that matter, at least on a temporary basis. The minute a bankruptcy case is filed, an injunction known as the automatic stay springs in to place. The automatic stay is an order of the bankruptcy court… Read more »

Ohio Homestead Exemption in Bankruptcy

Homestead exemptions have been enacted in most states to protect homeowners from their creditors. Outside of bankruptcy, a homestead exemption protects your primary residence from judgment creditors. Inside the bankruptcy process, the homestead exemption prevents the trustee from selling your home to satisfy creditor claims. The basic idea behind the homestead exemption, and exemptions in general,… Read more »

Bankruptcy exemptions: can a trustee or one of my creditors object?

Can a trustee or creditor object to an exemption? When you file for Chapter 7 bankruptcy, or “straight bankruptcy”, the bankruptcy trustee evaluates all of your assets to see whether there is anything that can be used to pay back unsecured creditors. In most cases we see, our clients are able to keep all of… Read more »