Posts Categorized: The Bankruptcy Discharge

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 »

Should My Corporation or LLC File for Chapter 7 Bankruptcy?

Last updated Oct. 31, 2018. According to the U.S. Small Business Administration, in 2015 there were nearly 30 million small businesses operating in the United States. For various tax, legal, and financial reasons, the owners of many of these small businesses choose to operate them through a business entity, like a corporation or limited liability… Read more »

Ohio Bankruptcy Means Test for Chapter 7

Chapter 7 Bankruptcy Ohio Means Test Income Limits

Last updated July 31, 2018. When you’re struggling with debt and don’t know where to turn, it’s time to consider filing for bankruptcy. Bankruptcy still seems somewhat taboo in the modern world, but the reality is that millions of people every year need to wipe their financial slates clean and start over fresh. Bankruptcy exists… 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 »

Drunk Driving Debts Can’t be Discharged in Bankruptcy

Last updated Nov. 30, 2018. Filing for bankruptcy lets you start over with a clean financial slate. Debt collectors’ and creditors’ phone calls, lawsuits, foreclosures, and repossessions stop when you file, and the court steps between you and your creditors. The biggest benefit of filing for bankruptcy is that your debts are legally wiped out. Whether you file… Read more »