Will Bankruptcy Cause You To Lose Rental Property That You Own?

Most people assume that bankruptcy means giving up everything, and this assumption also includes rental property. Will bankruptcy cause you to lose rental property that you own? Not necessarily. Each bankruptcy case is different and there are a number of factors that will determine whether you can keep your property or if it must be surrendered to the bankruptcy trustee and liquidated. The factors include the type of bankruptcy you have filed, whether this is a chapter 7 case or a chapter 13 case, how much money is still owed on the property in question, how much equity you have in the property, and the rental income that the property provides as well as other factors.

Chapter 7 bankruptcy is a common type chosen for consumers, and this type of bankruptcy normally eliminates most if not all debts completely. With a chapter 7 bankruptcy you are allowed a primary residence equity exemption, and the exemption amount depends on the state of residence. Any rental property that you own will not count as your primary residence though and will not fall under the standard exemption for your main home. You are also allowed a Wildcard exemption but this is not much and the specific amount of the exemption is also determined by your state of residence. In Ohio the amount of this exemption is $21,625 per individual filing for bankruptcy. This is doubled in a joint case.

What if your equity in the rental property is nil or very low? Then it is up to the Chapter 7 bankruptcy trustee to determine whether the rental property could bring in money to pay off your creditors and debts. The trustee is not trying to take everything from you, but to look out for the best interests of your creditors. The trustee will calculate the value of the property, the cost of selling the property, and the amount that may be gained for your creditors. If you owe $100,000 on the property and the value is $99,000 then it is very unlikely the trustee will take the time and effort needed to liquidate this asset because little if anything will be recovered for your creditors after all of the expenses are determined.

If you file for chapter 13 bankruptcy then the situation can become more complex. Usually a chapter 13 filing reorganizes your debts and allows you to pay them off over time. Most rental property can be kept under this type of bankruptcy, and you may even be eligible for a cramdown. This is a method that is not allowed with any primary residence but that can be used with other secured debts and this includes rental property. A cramdown allows the bankruptcy judge to change the terms of the current mortgage to reflect the current value of the rental property rather than the purchase price you agreed to pay when buying the rental property. The judge can order a cramdown and this will lower your total debt and monthly payments in most cases.

If your rental property has costs then any costs must be evaluated by the trustee. The total cost of the rental property will be assessed including the amount of the mortgage payment, insurance, taxes, repairs, maintenance, and upkeep. If the total costs of the rental property exceed the income that this property provides then the trustee in your case may object to the repayment plan you are proposing. The trustee may take this step if you end up paying money out for the rental property in excess of the income provided by the property. The trustee may reason that these expenses could be better used to pay off unsecured creditors in your case. If this happens then you may be forced to surrender your rental property.

Rental property is an issue that can change from one bankruptcy case to the next, and whether you can keep this property will depend on all of the facts in your specific case. If you own rental property and you are considering bankruptcy you need an experienced bankruptcy lawyer who understands the laws and can help. The bankruptcy attorneys at West & Hurley can help provide a free debt consolidation consultation to help you find the right answer for your unique debt problems and circumstances. Visit http://www.debtfreeohio.com or call (513)771-8700 or (937)748-1749 to get the answers you want, and the financial relief you are looking for.

Deficiency Judgments And Short Sales: Bankruptcy May Be The Answer

The entire USA is seeing record foreclosure numbers and this has a devastating effect on local economies and impacts many industries. Every part of the real estate and housing industries are affected. In some cases a short sale is arranged to prevent foreclosure, but the end result is the same in that you no longer have this huge financial rock weighing you down.

In the USA thousands of former homeowners who arranged a short sale to avoid foreclosure are now being reminded that their financial troubles are far from over. Consumers who arranged for a short sale months or even years ago are starting to receive notices of additional amounts owed, and this is causing new financial difficulties at a time when the consumer believed that these problems were in the past. In some cases the contact happens after your home has been foreclosed on and auctioned off. You receive a notice showing that your home sold for an unbelievably low amount at auction and you owe the remaining balance, which is often tens of thousands if not hundreds of thousands of dollars. This scenario is also becoming more common after short sales which were done with bank approval.

A deficiency judgment may be issued for any balance between what the home sells for and the balance on the home mortgage loan. One woman who resides in Virginia received permission from the bank for a short sale of her home when her income decreased significantly. Months after the sale had taken place this woman received a notice for $65,000 in a deficiency judgment for the home. The short sale left this amount still owing on the loan balance, and the woman ended up filing for bankruptcy protection.

If the bank approves a short sale then the homeowner typically believes that any unpaid balance will be erased and no more payments will be due on the mortgage. In many cases this is true but many financial institutions are managing to come back after the borrower months after the home has been sold. You may not even realize that there is a default judgment until many months after you have sold the home. Some banks will actually wait or delay with the hopes that you can get your financial footing back and then try to recover on a deficiency judgment.

A short sale is one of the most common reasons that a deficiency judgment is issued. Short sales occur for many reasons, and the homeowner who has seen their home value drop below the amount owed may consider this method just as well as someone facing foreclosure or who bought more home than they can afford with subprime loans.

Your lender may or may not pursue a deficiency judgment, and there are some factors that may play a role in this decision by banks. The rate of foreclosures in the state you live in can play a part, and so can any other liens that are present against the home such as a second mortgage or even a credit line. If the lender does pursue a deficiency judgment you could end up with your credit ruined and the threat of garnishment hanging over you.

Some lenders will tell you that once the short sale is complete your debt will not be pursued but few if any banks will put this fact in writing. There is no guarantee that you will not be served with a deficiency judgment next month or even next year. The only way to ensure that your short sale or foreclosure will not result in a deficiency judgment is to coordinate this action through a bankruptcy case. If you give up all interest in the home in bankruptcy then you are assured that you will have no future liability even if the sale of the home brings in much less than the mortgage payoff.

You do not have to short sell the home you own regardless of what your lender may say. A short sale will hurt your credit no matter what your payment history has been like, and may not benefit you or eliminate any of the excessive debt that you have in the home. The lender benefits from a short sale because there are no expensive foreclosure costs, and you could still be on the hook for the balance of the mortgage after the home has been sold. A bankruptcy attorney can help you get the best possible results if you are going to surrender your home and ensure that you do not face financial difficulties and a deficiency judgment later on.

If you are one of the many people facing a delinquency judgment, foreclosure, long term unemployment, or you are underemployed and facing economic hardship because of this, there is help and solutions available. A qualified bankruptcy attorney can help you turn your finances around, and get a fresh start when you need it most. The bankruptcy attorneys at West & Hurley can help provide a free debt consolidation consultation to help you find the right answer for your unique debt problems and circumstances. Visit http://www.debtfreeohio.com or call (513)771-8700 or (937)748-1749 to get the answers you want, and the financial relief you are looking for.

The Banks Are Aggressively Pushing Plastic On Consumers Again

Credit card debt is a problem in the USA, but since the recession started more and more consumers have started to move away from credit cards to other payment methods in an attempt to limit this debt. Consumers grew tired of excessive fees and skyrocketing interest rates, and money became tight for many families because of unemployment and other economic factors.

In 2009 the federal government passed the Credit Card Accountability Responsibility and Disclosure Act of 2009, or Credit CARD Act. This act had the intended purpose of protecting consumers from any undisclosed and unexpected term changes on the credit cards used. This was done in part because of the financial hardships that excessive credit card debt can cause and because of the way that credit card companies were operating.

New legislation discussed in 2011 will actually roll back some of the protections put in place by the  Credit Card Accountability Responsibility and Disclosure Act of 2009. The federal rules and regulations on the use of debit cards has been tightened and this has caused many financial institutions to lose income from debit card use because excessive fees are no longer allowed and consumers must agree to an overdraft before they can be charged an overdraft fee. Banks are aggressively pushing the credit card products again in an effort to make up for the income lost on the usage of debt cards.

The Huffington Post reports that “Banks have spent the past year pushing credit on shoppers through aggressive advertising, low-promotional rates, and 0 percent offers, leaving no website, mailbox, or television commercial slot untouched with promotions to get shoppers charging. The new efforts come as a reaction to the Durbin amendment, part of the larger Dodd-Frank financial reform legislation, which was enacted on October 1. The regulation limits the amount a bank can extract each time a customer swipes a debit card to around 21 cents. Credit card swipe fees, meanwhile, are essentially a Wild West for bank revenue: Companies and issuers can charge between 2 and 4 percent per credit transaction, with rewards cards typically getting an even higher rate. Where a $100 debit card purchase adds up to pennies on the dollar in swipe fees for a financial institution, a credit card swipe might send a $2.50 chunk of change to issuers.”

What this means is more profits for the banks if a credit card is used and less if a debit card is used. The goal by the banks and financial industry is to get the shoppers hooked onto credit cards again instead of using debit cards. This will allow the banks to replace the debit card usage fees and overdraft charges that are no longer allowed under the new laws.

Credit card debt is one of the most common causes of financial difficulties and mounting debt. Even if you live within your means aggressive marketing of credit cards can tempt you, and this can start a cycle of debt that may be devastating. Many individuals who file for bankruptcy protection find that the credit card debt is the final topping that causes the cake to crumble.

Bankruptcy can help you reorganize your consumer debt or even eliminate this debt completely. In addition you will not have to deal with being harassed by debt collectors or be fearful of answering your phone and checking your mail. As soon as your bankruptcy petition is filed an automatic stay goes into effect, and this court order protects you from any collection activities and even pending lawsuits in most cases. This means that until your bankruptcy case is finished your creditors can not garnish, harass, threaten, or take any other steps to collect on a debt you owe. If a creditor does not receive bankruptcy court permission once your case is filed then the creditor can not try any methods available to collect the debt owed. If a creditor does not cease collection efforts immediately once the automatic stay is in effect then they can be found in contempt of court and face penalties.

If you are facing financial difficulties, because of credit cards, unemployment, or any other reason we can help. The bankruptcy attorneys at West & Hurley can provide a free debt consolidation consultation to help you find the right answer for your unique debt problems and circumstances. Visit http://www.debtfreeohio.com or call (513)771-8700 or (937)748-1749 to get the answers you want, and the financial relief you are looking for.

2011 Gave Jobless Americans Very Little To Be Grateful For

Christmas is a time for food and fun, family and friends. During this holiday season all of the blessings through the year are counted and appreciated, but for many Americans 2011 gave very few reasons to be grateful because of chronic unemployment, a struggling economy, home foreclosures, and financial difficulties.

An analysis conducted by the National Law Employment Project shows that almost 2 million Americans who are out of work and facing financial hardships will be affected if federal unemployment benefits are not extended soon. By the end of the year 2012 the number could jump from 1.8 million to roughly 6 million if Congress does not take action to prevent this.

Jobless Americans are suffering, and in addition many are underemployed even though they desire full time employment. Unemployment benefits may not seem like much but this financial assistance can often mean the difference between meeting your bills or falling even further behind. While unemployed Americans are hunting for jobs record numbers are also cutting expenses as much as possible and eliminating small luxuries. Basic cable, holiday menus, Christmas gifts, and many other items taken for granted in the past have now become a struggle to afford.

The middle class of America seems to be in a downward spiral and many Americans are unsure where to turn. Without unemployment benefits many of those who barely scrape by will soon be without any financial means. This may lead to a large rise in homeless individuals, and as more people cut back on things and withdraw from society millions of Americans are affected.

Household budgets this holiday season are glum and strapped for financial resources. At a time when you should be enjoying friends and counting blessings you may find yourself counting change and praying for a miracle in the form of a job. There is a lack of investment in the American worker today that is distressing for many. Many long term unemployed are forced to use resources intended for retirement, drain savings accounts, and even file for bankruptcy. These are Americans that want to work but can not find full time steady employment in the current economy.

The number of personal bankruptcies has been on the rise since the economic downturn started. The supposed economic recovery did not stop this trend because the recovery never reached the middle and lower classes in the country. In 2011 it is expected that around one and a half million people filed for bankruptcy protection and it is expected that 2012 will be the same unless something drastic occurs. Many of those who filed for bankruptcy in 2011 did so because of long term unemployment, chronic underemployment, or the sudden stop of unemployment benefits.

Personal bankruptcy can be the solution needed. This solution will provide a long term answer to the financial struggles you are facing. Chapter 7 bankruptcy can help erase your debts and give you a fresh financial start while chapter 13 bankruptcy can help you keep your vehicle and home in most cases while allowing you to resolve your financial problems at the same time. This can make all the difference in the world to a family who is struggling just to get by and make ends meet. There is a solution to your debt and financial issues and help is available.

If you are one of the long term unemployed women, you are underemployed and facing economic hardship because of this, or you feel like you are swimming in debt with no way out there is help and debt solutions available. A qualified bankruptcy attorney can help you turn your finances around and give you a fresh start when you need it most. The bankruptcy attorneys at West & Hurley can help provide a free debt consolidation consultation to help you find the right answer for your unique debt problems and circumstances. Visit http://www.debtfreeohio.com or call (513)771-8700 or (937)748-1749 to get the answers you want, and the financial relief you are looking for.  Or call 1-800-956-5152 for their 24 hour free information hotline.

It Is Possible To Have Less And Be Happier

It would be untrue to say that every single bankruptcy is caused by sudden changes in life, like medical emergencies and divorces. Some of the bankruptcy cases filed every year are those which could have been prevented, but we do not judge because we understand that timing plays a role in every bankruptcy filed.

You may wake up one morning and make a determination to start working on the large stack of bills, then when you get to work you receive a layoff notice. Now it is not only impossible to pay off your bills but just making it day to day can become a struggle quickly. This is very poor timing, and a common reason for bankruptcy filings by individuals and couples.

If you had never accrued the large stack of bills then the loss of your job and income would not be as hard to take, and your future would not be so bleak. The answer is to simply your life, and while this may seem too simple to work you will find that simplifying your life is effective and can be done. Most people look towards the next big purchase, like a new car, when you should be trying to eliminate unnecessary expenditures and make your life easier financially. New research was cited in an article by the New York Times which shows a life that is less complicated is a happier one. The research cited was conducted by Leaf Van Boven and Thomas Gilovoch at the University of British Columbia. Most people in the USA define true happiness in terms of life experience instead of possessions and material things.

A common reaction when additional money is available is to spend the funds and splurge on something new and shiny, typically something that is not truly needed. A new couch or television set will eventually be discarded, but a family vacation or camping trip provides memories that will last a lifetime.

The idea of simplifying life is more popular now because of the recent recession, and this could be a positive sign for the USA even though the economy depends on consumer sales and business success. The economy may adjust in the near future because of the popularity that simplifying life has seen, and the adjustments made will reflect the current consumer choices.

There are signs that simplification is happening. The number of new homes sold across the nation is down significantly, which shows that many people are not moving or choosing to upgrade, and the amount of credit card debt is lower than it has been for many years. The lower credit card debt is partially due to creditors refusing to extend credit and bankruptcy filings, but this is still a positive trend.

Many people who have had to file for bankruptcy may have been able to avoid this step if an effort was made much earlier to simplify life. People have a tendency to do what everyone else does though, and this has created a system where material things and spending are considered essential. Keeping up with the neighbors next door or your co-workers can quickly spiral out of control before you know it, but you should not place blame because you want a lifestyle that is comfortable. Learning to live with fewer material things and focus on quality life experiences can be scary at first, but over time you will find life is happier and fuller than before. One way to simplify your life is to take control of your debts and get your financial house in order.

The bankruptcy attorneys at West & Hurley can help provide a free debt consolidation consultation to help you find the right answer for your unique debt problems and circumstances. Visit http://www.debtfreeohio.com or call (513)771-8700 or (937)748-1749 to get the answers you want, and the financial relief you are looking for.

Disturbing News For Women Concerning Employment Prospects

The economic downturn affected men and women, and both sexes saw pink slips and income losses. Since then the rebound that men have experienced is much better than that experienced by women, with women recovering only 9% in October while men are recovering at several times this percentage. This problem has continued since then.

At the beginning of December there was an article in the Huffington Post about the inequality between sexes in unemployment recovery after the economic downturn. According to this article “On Friday the Labor Department announced that the unemployment rate among women fell to 7.8 percent in November from 8 percent the month before. The slight improvement belies the fact that the unemployment rate for women has been fairly stagnant since the recovery began in June 2009. Men have done better: Unemployment for men was 8.3 percent in November, down from 9.9 percent at the start of the recovery. The reasons that men have regained jobs at a faster clip than women and have seen their collective situation improve since the recovery began are hard to explain, said Entmacher. ‘It isn’t as if male-dominated industries have suddenly and really rebounded,’ she said. The anecdotal stories that Entmacher hears from middle-aged and older women, left struggling with their finances and their identities, suggest that there’s also a belief lingering in the culture that it’s more important to put unemployed men back to work, she said.”

This story points out that the biggest victims of the economic downturn are women who are middle aged or older. These are women who are willing to work, very flexible, and who have built up networks, and they have become long term unemployed. This period in their life should be spent getting ready to retire and adding to their savings, and instead these women are forced to rely on these retirement funds just to scrape by while looking for work.

One of the women in this group was profiled in the Huffington Post piece. Gayle Keslie is a 51 year old woman who is one of the long term unemployed with a college education. According to Huffington Post “Leslie found a spot at the local women’s emergency shelter then got a job with the Walker County Democratic Party. When the election was over, Leslie was able to get back to New York. She lived on her unemployment benefits, thinking it would be a matter of time before she found a job. Then in 2010, the benefits ran out. Now, she’s depending on the kindness of friends. She splits her time between sending out resumes, hunting for her next temporary sleeping spot and writing a book about her life. To get by, Leslie rations everything — subway passes, cellphone minutes and even that red lipstick — so that she will have them if, and when, she gets a job interview.”

Many women are in the same boat as Gayle Leslie, and while the official line is that an economic recovery has occurred these women are still living in a recession, with levels of unemployment that are stagnant and women in the group facing mounting debts and financial insecurity. The expert advice for these women varies, with some experts advising that self employment is the answer and other experts advising long term solutions like bankruptcy and other debt relief options. Bankruptcy is a solution that works equally well for both sexes.

If you are one of the long term unemployed women, or you are underemployed and facing economic hardship because of this, there is help and solutions available. A qualified bankruptcy attorney can help you turn your finances around, and get a fresh start when you need it most. The bankruptcy attorneys at West & Hurley can help provide a free debt consolidation consultation to help you find the right answer for your unique debt problems and circumstances. Visit http://www.debtfreeohio.com or call (513)771-8700 or (937)748-1749 to get the answers you want, and the financial relief you are looking for.

10 Biggest Money Wasters to Avoid

The 10 Biggest Money Wasters You Should Avoid

The spending habits of Americans seem to be thriving even the the economy continues to suffer. The combination of high unemployment numbers, a continuing housing crisis, and unsecured debt amounts that on average continue to climb has not stopped most Americans from spending roughly 15% of the household income on luxuries that are not true needs but instead indulgent wants.

Where is all this money wasted though? The 24/7 Wall Street publication reviewed the recent spending habits in the USA, and the changes in these habits over the last 20 years. There are 10 common categories where a majority of money is wasted, and a household with an annual income of $60,000 will spend $8,000 or more each year on expenses and items that are not actually needed. The recent credit crisis would not be such a big issue if consumers had placed this money into savings rather than spending it over the last 2 decades, but the fun and level of luxury during this time would also be much lower. The 10 biggest categories for wasteful spending are:

#1. Alcohol Products- Alcohol is a big seller and a common product found in many homes across the USA, and the average alcohol bill per consumer on a yearly basis is almost $450, and this amount includes mixed drinks, wine, hard liquor, and beer. This is much higher than the amount spent per consumer on average for beverages which were not alcoholic.

#2. Dining Out- Americans spend on average more than 5% of their annual income to dine out. This amount includes all forms of dining out, from fast food establishments to high end restaurants and everything in between. Between 1989 and 2009 the amount the average household spent to eat out jumped from $1,762 to $2,619, and this is a significant increase, especially in times of poor economic circumstances. In an ironic twist the economic group that spends the highest percentage on eating out is the lowest income group, individuals which make $5,000 a year or less spend more than 6% to dine away from.

#3. Tobacco Products- The use of tobacco products has declined over the last decade, but the average household still spends almost $400 a year on these products. This amount is more than what the average household budget includes for milk and fresh fruit together.

#4. Electronic Equipment And Services- Electronic equipment including television, stereos and other sound equipment, and radios account for roughly 2% of the money spent by the average home. This amount is more than double what the average home spent on these equipment and services in 1989. This includes cable television services, video game systems, DVD players, and other items and services. Households with lower incomes actually spend more, both per year and by income percentage, than homes with higher average annual incomes.

#5. Pets And Hobbies- Owning pets and taking up a hobby account for a significant portion of the average American household budget. The 24/7 Wall Street publication reports that “The average household spent nearly $700 on pets, toys, hobbies, and playground equipment. Nearly 80% of the expenses in this category come from pets, including food and veterinary bills. In contrast, households only spent $140 on toys and games.”

#6. Sports And Entertainment Equipment- Americans spend slightly less than 1% of the annual budget for sports and entertainment equipment on average, and this is generally around $400. This amount includes bikes, camping gear, boats, hunting gear, fishing equipment, and other items.

#7. Gift Giving- Americans are generous as well as being avid consumers, and approximately $1,067 is spent by the average US home each year in giving gifts. This constitutes roughly 2.2% of the typical annual American budget.

#8. Apparel Purchases And Maintenance- Roughly 0.005% of the average American budget is spent on purchasing and maintaining clothes and apparel. This is around $250 each year per person, and includes purchasing apparel, cleaning and dry cleaning costs, and any needed repairs or storage services. This is a decrease from 2 decades ago, when the average amount per person was $266 annually.

#9. Entertainment Fees And Admission Costs- Since 1989 American households have more than doubled the amount spent on admission costs and entertainment fees. Over $600 each year is spent on concerts, sports events, movies, and other forms of entertainment.

#10. Lodging For Vacations- Around $680 each year is spent on lodging for vacations, and this is for the average household in the USA. This cost includes owning a vacation home as well as paying for motels, inns, and other types of lodging accommodations. An interesting fact is that households in southern areas of the country usually spend less than those from the northeast USA.

If you are guilty of one or more of the top 10 money wasters an now have to deal with the consequences of your spending habits you need to know that there are options available to you. A Chapter 7 or Chapter 13 bankruptcy filing is no longer taboo, and is now considered an acceptable option in most cases that can affect millions of consumers. You can restructure your debts, or even eliminate them completely and get the fresh start that you deserve. The bankruptcy attorneys at West And Hurley can help provide a free debt consolidation consultation to help you find the right answer for your unique debt problems and circumstances. Visit http://www.debtfreeohio.com or call (513)771-8700 or (937)748-1749 to get the answers you want, and the financial relief you are looking for.

What you can do to avoid “Double Dip’s Problem”

Did The Double Dip Threat Do In Dippin Dots? What About Your Finances?

The top news in 2011 was full of double dip recession talk. This occurs when a recession ends and there is a short period of recovery for the economy, but this recovery is quickly followed by another recession that drags down the economy. Hiring in the USA has stagnated, consumer confidence is extremely low, the unemployment rate is very high, and housing priced have plummeted, which makes a double dip recession a very real threat to the US economy, businesses, and consumers.

Did this double dip threat do in Dippin Dots, an extremely popular manufacturer that produces ice cream beads that are loved around the country?

It would seem so. Dippin Dots recently filed for Chapter 11 bankruptcy protection, filing the case in Paducah, KY with the appropriate US Bankruptcy Court. This move was made by the company in an attempt to prevent a foreclosure action.

The Wall Street Journal reports “The manufacturer of the quirky and colorful ice cream beads, which are flash frozen using liquid nitrogen, owes $12 million, the bulk of it to a unit of Regions Financial Corp., which moved to foreclose on the loan this week. The 170-worker company, which calls its frozen treat “ice cream of the future,” fell into technical default four years ago at the peak of the economic crisis, when customers were no longer willing to spend the few dollars it cost for a cup.”

The Dippin Dots empire includes 140 franchise locations controlled by the company, and an additional 10,000 vendors roughly who rely on the sale of this treat at sporting events and games, fairs, festivals, and other events. The setbacks experienced by the company due to the economic conditions almost meant a lack of product for the summer season but this was narrowly averted.

This situation was caused by a lengthy battle with the biggest lender of the company, a battle that lasted 4 years. There were several proposals made by Dippin Dots to the bank holding the loan, which was needed due to poor recessionary sales, but the bank continued to reject the proposals and posted a foreclosure notice. It is ironic that Dippin Dots is now in the same situation as underwater homeowners in the current economy, without the ability to pay off debts and loan balances and facing a bank that refuses to enter negotiations or work with a long time customer.

The bankruptcy of Dippin Dots shows just how bankruptcy protection can help companies and individuals both adjust and adapt in an environment that is constantly changing, because of the recent recession and threat of another one coming. Numerous industries, companies, and individuals are facing financial difficulties and challenges. The housing market is low, tourism and sales have dropped significantly, consumers are extremely skittish and tend to save money rather than splurging, and even businesses which have been highly successful and unique have been adversely affected.

If you have seen a negative impact from the recent economic difficulty like Dippin Dots has then a bankruptcy filing may be the answer. This step will give you some time to change your financial organization and stop the creditors and threats hanging over you which affect your decision making abilities. Bankruptcy protection will also allow you to diminish your debt and work towards a future that is more profitable. If Dippin Dots can use bankruptcy to avert financial collapse, and block the bank’s attempt to foreclose, then why not you? If you are facing a bank that won’t work with you at all you need to know that you have the same access to bankruptcy relief as the thousands of companies who find bankruptcy the only way to force the banks to work with them.

Are you an individual who has heard about bankruptcy and who wants to understand more about this subject and the benefits? Do you feel like you are drowning in debt? Are you facing foreclosure or garnishment? If you are considering bankruptcy or have debt problems the first step should be to consult a qualified debt relief attorney, one who handles bankruptcy and specializes in resolving your debt problems. A skilled bankruptcy attorney will look out for your best interests and represent you during the bankruptcy process. The bankruptcy attorneys at the Law Offices Of West & Hurley can help you find the answer and the debt relief that you need. Call 1-513-771-8700, call 1-937-748-1749, or visit www.debtfreeohio.com now to arrange for a free consultation about your specific case.