Ohio Bankruptcy Attorney

Bankruptcy is a legal proceeding in which an individual who cannot pay his or her bills can get a fresh financial start. Filing bankruptcy immediately stops all of your creditors from trying to collect your debts from you until your debts are sorted out according to the law.

Nobody can be a debtor under any chapter of the Bankruptcy Code unless he or she has, within 180 days before filing, received credit counseling form an approved credit counseling agency.

It is important to note that the following debts cannot be discharged in either Chapter 7 or Chapter 13 Ohio bankruptcies. If you file for Chapter 7, you will still be responsible for repaying these debts after your discharge. If you file for Chapter 13, these debts will have to be paid in full in your plan. If they are not, the balance will remain at the end of your case. Remember that you will also have to continue to pay secured debts (such as a house or car payment) if you to intend to keep the secured property. [see 11 U.S. Code § 523 for the official list and details not provided below]

  1. Back child support, alimony obligations and other debts dedicated to family support.
  2. Debts for personal injury or death caused by driving while intoxicated.
  3. Student loans, unless it would be an undue hardship for you to repay.
  4. Fines and penalties for violating the law, including traffic tickets and criminal restitution.
  5. Recent income tax debts (within 3 years) and all other tax debts.
  6. Debts you forget to list in your bankruptcy papers, unless the creditor learns of your bankruptcy case.

If you are having financial struggles due to an overabundance of debt that is not cause by one of the topics listed above, call Susan J. Lax and schedule a consultation. She will be able to sit down with you and find the appropriate procedure for you to get your debts under control.

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Chapter 7 Bankruptcy

With a Chapter 7 Bankruptcy you basically get a “fresh start.”

Chapter 7 Bankruptcies are known as “straight” bankruptcies or “liquidations.” It requires a debtor to give up property/assets which exceeds certain limits called “exemptions” so the property can be sold to pay creditors.

A trustee will collect these assets and sell any that are not exempt and the proceeds from that are paid to the creditors.

If you feel that you have the necessary limits on what a Chapter 7 Bankruptcy filing would need and would like a “fresh start” on your finances, Susan J. Lax can help you get the process started to give you peace of mind and the ability to relieve some of your debts.

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Chapter 13 Bankruptcy

A Chapter 13 Bankruptcy is sometimes called a “debt adjustment”. It requires a debtor to file a plan to pay debts (or parts of debts) from current income. For this to be possible you will need to have enough income in chapter 13 to pay for your necessities and to keep up with the required payments as they come due.

Chapter 13 acts like a consolidation loan under which the individual makes the plan payments to a designated trustee who then distributes payments to creditors. You will have no direct contact with creditors while under chapter 13 bankruptcy protection.

If you have more debts than what you would need in a Chapter 7 Bankruptcy and also have more assets/property a Chapter 13 Bankruptcy might be the way you need to go to relieve yourself of your financial burden with the help of an experienced, practiced attorney like Susan J. Lax.

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Stop Foreclosures

When there is failure to make payments on your mortgage, your mortgage lender has the right to pursue the legal action to recover the balance of the loan by forcing the sale of the property and terminating your contract.

There are about four ways to avoid foreclosure:

  1. Filing for personal bankruptcy
  2. Refinancing your mortgage
  3. A short Sale
  4. Mortgage modification

Foreclosure is stressful enough without having to worry about filing paperwork, researching available government aid programs, and dealing with creditors. Contact Susan J. Lax to schedule a consultation with an attorney who can provide assistance during this troublesome time.

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Wage Garnishments

A wage garnishment is when a court issues an order requiring your employer to withhold a certain amount of your paycheck and send it directly to the person or place to whom you owe money, until your debt is paid off. Wage garnishments cannot happen without a court order and even then there are legal limits on how much of your paycheck can be garnished.

The most common reasons for wage garnishment are:

  1. Child Support
  2. Spousal Support
  3. Federal Debt
  4. State Debt
  5. Defaulted Student Loans

If you have been notified of a wage garnishment, contact Susan J. Lax. She will do everything in her power to help you understand what is happening and help you take the necessary steps to possibly reduce the garnishment or negotiate with your debtor.

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