Get Affordable Chapter 7 Bankruptcy Help in Columbus, Ohio
If you are being harassed by collectors, facing inquiries from creditors, or becoming increasingly worried about your debt, it may be time to speak with a Chapter 7 bankruptcy lawyer in Columbus about your options. Bankruptcy could provide the fresh start you need.
Chapter 7 Bankruptcy Explained: Get the Facts in Columbus
An Experienced, Caring Columbus Chapter 7 Lawyer Can Guide You Through the Bankruptcy Process.
If you’re considering declaring bankruptcy, it’s important to understand the process and to team up with the right bankruptcy lawyer. Declaring bankruptcy can offer you certain protections while helping to realign your financial future.
Chapter 7 bankruptcy is a type of bankruptcy that quickly clears debts that are not tied to financial assets like your home or car. Chapter 7 bankruptcy is ideal for debtors with substantial unsecured debt. Unsecured debts include credit card debt, medical debt, personal loans, and other types of debt that are not backed by collateral or assets.
If your income is too low to repay these growing debts, declaring Chapter 7 bankruptcy will allow you to wipe the slate clean, so to speak, by discharging these debts. Chapter 7 bankruptcy, also called liquidation bankruptcy, leaves little to no debt remaining. By working with a Columbus Chapter 7 lawyer, the liquidation bankruptcy process can often be completed within a few months, after which collectors and creditors can no longer pursue you for debt repayment.
The Means Test for Ohio Residents
When working with your attorney, they will complete the means test to make sure you qualify for Chapter 7 bankruptcy. As part of the test, your household income will be compared with the median Ohio household income, which will be used to determine whether you qualify for Chapter 7 bankruptcy.
Not everyone qualifies for Chapter 7 bankruptcy. Your attorney will perform a means test to determine whether you qualify.
Bankruptcy Basics: Dischargeable vs. Non-Dischargeable Debt Explained
Our Columbus Chapter 7 Bankruptcy Attorney Can Explain Which Debts Can Be Discharged
Chapter 7 bankruptcy is used to discharge non-secured debt like credit card debt and personal loan debt. However, certain debts are priority unsecured debts, which are usually not dischargeable. These obligations include:
- Past-due income taxes
- Alimony payments
- Student loans
- Fees and penalties for certain crimes or offenses
- Child support payments
For example, student loans are only dischargeable in bankruptcy if the debtor can prove an undue hardship.
Columbus Chapter 7 Bankruptcy FAQ
Most people considering bankruptcy have never previously declared bankruptcy. This means that our average client has a lot of questions about the process. The following are answers to some of the most common questions our Chapter 7 bankruptcy lawyer receives.
Why do I need a Columbus Chapter 7 lawyer when declaring bankruptcy in Ohio?
The bankruptcy process is very complicated, requiring filling out and understanding legal documents, filing many documents with the court, and meeting court and filing deadlines. Without the help of an experienced bankruptcy attorney, you are likely to file the wrong documents or miss hearings, resulting in negative consequences and potentially even dismissal of your case. Experienced lawyers are familiar with the laws and will make sure everything is filed correctly and on time.
When should I declare Chapter 7 bankruptcy in Ohio?
Determining when to file bankruptcy can be challenging. If you commit to it too early, you could miss out on options for resolving your financial difficulties. However, if you wait too long, the process may be more difficult and financially painful. The best way to determine when to file bankruptcy is to consult with a Chapter 7 bankruptcy lawyer in Columbus as soon as you face financial difficulty.
Will declaring bankruptcy protect me from creditors?
Yes. When you declare Chapter 7 bankruptcy, the courts place an automatic stay on your creditors. This prevents them from trying to collect money from you until after the bankruptcy proceedings are complete.
Will Chapter 7 bankruptcy ruin my credit score?
Contrary to popular myths, declaring bankruptcy will not permanently ruin your credit score. It will temporarily lower it. However, if you take advantage of the fresh start and are responsible with your finances, your score can greatly improve after your case is discharged.
Should I declare Chapter 7 bankruptcy or Chapter 13 bankruptcy?
An experienced attorney can look at your entire financial picture and advise you of which chapter you would qualify for. Each chapter has different time frames and requirements to qualify.
While these are the most common questions we receive, they are far from the only ones. You will certainly have questions that relate to your specific circumstances. Our bankruptcy lawyers will happily answer all of them during your initial consultation.
Don’t let debt continue to control your life. Find out how a Columbus Chapter 7 bankruptcy attorney can get your finances and your future back on track. Call us today at 614-228-4435 (Columbus), 937-222-7472 (Dayton), or 877-654-5297 (Cincinnati).
What You Need to Know Before Starting the Bankruptcy Process
Our Chapter 7 Bankruptcy Attorney Will Walk You Through the Process
Sometimes, people wait to deal with their debt until it becomes insurmountable. Therefore, by the time these families reach out to a Chapter 7 bankruptcy lawyer, their financial situations are often dire. Generally, a creditor is threatening adverse action, like garnishing wages or filing a debt collection lawsuit.
In these situations, it’s easy to let emotion take over. Carefully preparing to file bankruptcy helps keep emotions from running amok and spoiling your family’s fresh start. Consider taking the following steps:
- Realistically Assess Your Situation: Struggling to make minimum credit card and other unsecured debt payments puts families on a debt treadmill. Every month, they scrape up money to pay bills, and every month, the UPB (unpaid principal balance) hardly moves.
- Find the Right Columbus Chapter 7 Bankruptcy Lawyer: Your attorney should be highly experienced. Additionally, your lawyer should be dedicated to upholding your financial rights. Not all bankruptcy lawyers in Franklin County have these key qualities. So, search diligently but also search quickly. Bankruptcy can prevent bad things from happening, but it’s almost impossible to undo things like repossession and foreclosure.
- Gather Paperwork: The bankruptcy trustee will want to review financial documents, like tax returns, paystubs, and property records. Gathering these documents now prevents a last-minute scramble for documents later. Additionally, the trustee requires a current state-issued identification card as well as a Social Security card.
- Understand the Process: Your Columbus Chapter 7 bankruptcy lawyer will review the process in detail. Once your case is filed, a hearing will be set with a bankruptcy trustee, which is usually about one month after your case is filed. Then you will receive your Discharge about 4 months from the date your case was filed.
- Get Ready for Post-Bankruptcy Life: One of the most important things that your bankruptcy attorney will do for you is to help you develop a post-bankruptcy financial plan. The benefits of bankruptcy last only if you are financially responsible afterward. Your attorney will give you advice on how to re-build your credit after bankruptcy and use credit responsibly.
Why Choose Us?
Who to Call When You Need a Columbus Chapter 7 Lawyer
Large cities like Columbus usually have thousands of lawyers. Any of them could handle a simple bankruptcy filing. But there is usually nothing “simple” about filing for bankruptcy. Bankruptcy is a complex process involving filing many documents with the court and understanding the ever-changing laws. Furthermore, objections, turnover motions, and other adversarial actions are the norm in bankruptcy, not the exception. Therefore, your Columbus Chapter 7 bankruptcy attorney should have the right combination of the following:
- Accessibility: This often-overlooked quality is critical in a lawyer, especially a bankruptcy lawyer. Many debtors work with large “bankruptcy mill” law firms. Legal assistants handle almost all the work in these law firms. But at Fesenmyer Law Office, your attorney works with you directly and assumes primary responsibility for your case.
- Dedication: Frankly, many lawyers practice bankruptcy because they think it’s an easy way to build a profitable practice. So, if things go sideways, they quickly lose heart. In contrast, the Fesenmyer Law Office legal team is with you until the end of the case.
- Experience: Many lawyers are experienced at filling out bankruptcy forms or sitting in meetings with bankruptcy trustees (people who oversee bankruptcies for judges). However, not all attorneys are experienced in matters like adversarial hearings and objections to discharge hearings.
Our lawyer understands that bankruptcy is a difficult choice and will work with you to make the decision as easy as possible.
Contact A Skilled Bankruptcy Attorney in Columbus Today
If done properly, bankruptcy is a once-in-a-lifetime event. Don’t leave your fresh start to chance with a less-than-qualified attorney. Instead, reach out to our experienced and compassionate team at Fesenmyer Law Office. Call us at 614-228-4435 (Columbus), 937-222-7472 (Dayton), or 877-654-5297 (Cincinnati) and ask for a free consultation today.
