Posts Categorized: Chapter 7

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 »

The Big Ohio Bankruptcy List

Bankruptcy in Ohio

Last updated Aug. 31, 2017. If you’re considering filing for bankruptcy, if you’re struggling with debt and wondering what your options are, or if you’re just curious about the bankruptcy process and rules in Ohio, then you’ve come to the right place. We’ve put together a list of everything you need to know about bankruptcy… Read more »

What is the Automatic Stay? What is the Penalty for Creditors Who Violate It?

Automatic Stay in Bankruptcy

Last updated Aug. 31, 2017. Bankruptcy is designed to help you get back on sound financial footing. That can’t happen if you still have to worry about creditors garnishing your wages or foreclosing on your home. So, bankruptcy comes with some serious protection against creditors trying to collect. The automatic stay is the most important… 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 »

Bankruptcy and Divorce: What You Need to Know

Bankruptcy During Divorce

Last updated Feb. 26, 2018. When it comes to marriages, few things have the magnetic ability to drag down a relationship like the gravitational pull of debt. Given that debt is a major contributor to marital disenchantment, it is no wonder that bankruptcy and divorce seem to intermingle like old friends. Though divorce and bankruptcy… Read more »

What Happens If the Trustee Moves to Dismiss My Bankruptcy Case?

Chapter 7 Dismissed Ohio

Last updated May 14, 2018. Under Chapter 7 bankruptcy law, the court may dismiss your case if it believes that relief is unwarranted based on your financial circumstances. 11 USC § 707(b)(1) reads: After notice and a hearing, the court, on its own motion or on a motion by the United States trustee, trustee (or… Read more »