Ohio Bankruptcy Laws Can Help You Tackle Your Debts
When you file bankruptcy in Ohio you can tackle your debts and begin on the road to a fresh financial start. The Ohio bankruptcy laws allow an individual to file under either chapter 7 bankruptcy or chapter 13 bankruptcy. The chapter you should file under will depend on your debts and income and your bankruptcy attorney can help you analyze your finances to learn about the options available to you.
Our website has a comprehensive FAQ page and all of the information on Ohio bankruptcy, but when you are ready to speak further about your debts we make it simple for you to connect with an Ohio bankruptcy lawyer in your area.
When you schedule a consultation appointment with an Ohio bankruptcy attorney you can ask any questions, and learn about the differences between chapter 7 and chapter 13.
Chapter 7 is an Ohio liquidation bankruptcy. Chapter 7 of the Bankruptcy Code is intended for those individuals who are seeking debt relief and who have little income or assets. Debtors seeking to file under chapter 7 often are looking for a quick financial restart and have nothing that they would lose when filing chapter 7. Chapter 7 is a liquidation bankruptcy and if a debtor files chapter 7 they must turn over any of their non-exempt property. However, as stated before most debtors filing chapter 7 have no assets not protected by the OH bankruptcy exemptions.
Ohio Chapter 13 is a reorganization bankruptcy, popular with debtors with more income and more assets than debtors filing chapter 7. Individuals filing chapter 13 enter into a debt repayment plan with their creditors that will last for a period of three to five years.
You can learn more about the Ohio bankruptcy laws as well as your options and rights for fighting your debt by arranging a free, no obligation evaluation meeting with a local attorney.