Will I Lose My House if I File Chapter 13?
House Ownership and Chapter 13 Bankruptcy Filing for bankruptcy does not automatically mean that you lose your house. Bankruptcy is designed to help individuals manage their debts while keeping their assets. You can get better payments with your creditors and save your property, including your house, when you file for bankruptcy. Whether you retain your […]
Wage Garnishment in Columbus
Columbus Wage Garnishment Wage garnishment can be a stressful and confusing experience. It occurs when a court orders an employer to withhold a portion of your earnings to pay off debts, such as unpaid loans, child support, or taxes. Understanding how wage garnishment works is can protect you if you are facing financial difficulties in […]
Protecting Your Assets When Facing Bankruptcy in Ohio
In the year 2023 alone, 21,140 bankruptcies were filed in Ohio. [1] Facing bankruptcy can be one of the most challenging experiences in a person’s life. It brings feelings of anxiety and uncertainty, not only about the future but also about the fate of one’s assets. That’s why it’s essential to have a solid strategy […]
Ohio Bankruptcy Benefits
Bankruptcy in Ohio Filing for bankruptcy can be accompanied by emotions and uncertainty about the future. However, for many Ohio residents, bankruptcy serves as a lifeline, offering a path to financial recovery and relief from overwhelming debt. Ohio Has the 14th highest bankruptcy rate in the country as of 2021. [1] Understanding the benefits of […]
Credit Counseling – What to Expect
Many people in America live have mounting financial pressures. While they pay the bills that keep the lights on and housing in place, they watch interest rates soar and are unable to put a dent in their medical bill payments, credit card debt, and other expensive but not essential bills. Non-profit credit counselors can come […]
Will Filing Chapter 13 Affect my Spouse?
Filing For Chapter 13 Bankruptcy As a Spouse Managing your money might be challenging at times. It becomes more complicated when you are married and dealing with bills together. Some debts are shared between spouses; others are not. What happens when you fall back on your payments? One possibility is Chapter 13 bankruptcy. This approach […]
How Long Does a Foreclosure Stay on Your Credit Report?
When Does A Foreclosure Appear on Your Credit Report? Credit reports are usually updated every month based on when your creditors send out their billing statements. If you miss a few mortgage payments, the bank might start the foreclosure process. This includes declaring the loan as unpaid, filing for foreclosure, and setting up the sale […]
When You are Elderly and in Debt in Ohio
Elderly and Owing in Ohio In the United States, in 2019, just over 6 out of 10 households led by someone 65 years or older had some kind of debt. The typical amount owed by these senior-led homes was around $34,000. [1] When an elderly person in Ohio passes away with outstanding debt, the responsibility […]
The Ultimate Guide to Foreclosure
When a homeowner falls behind on their mortgage payments, the lender may initiate the foreclosure process. Foreclosure is a legal process through which a lender repossesses a home or property when the owner fails to make their mortgage payments. This typically involves legal action and can vary depending on the specific laws and regulations of the […]
How Long Will Chapter 13 Delay Foreclosure?
Filing for Chapter 13 bankruptcy can slow down foreclosure, allowing homeowners to get caught up on their overdue mortgage payments and keep their homes. There are a couple of factors that can delay a Chapter 13 foreclosure, as discussed below. Automatic Stay: Immediate Relief When you file for Chapter 13, an automatic stay is enacted, […]