Alternatives to Filing an Ohio Bankruptcy
Alternatives to Filing Bankruptcy in Ohio In the US, there were 452,990 bankruptcies filed in 2023, compared with 387,721 cases in the previous year. [1] While in Ohio, in 2023, the number was 21,140 – out of these, 15,587 were filed under Chapter 7 and 5,485 under Chapter 13. [2] When you are buried in […]
What is a Reorganization Plan?
A reorganization plan is one of the methods that can be implemented to restructure a company’s operations and financial obligations while it is under the protection of bankruptcy laws. These plans address the challenges faced by financially distressed companies and enable them to emerge from bankruptcy as viable and sustainable entities. One of the primary […]
What Disqualifies You From Filing Bankruptcy?
Bankruptcy can provide relief from overwhelming debt, but there are certain circumstances that can prevent someone from being able to file. Knowing what disqualifies you from filing for bankruptcy can help you make informed decisions about your financial future. Fraud The disqualification from bankruptcy due to fraud is to protect the integrity of the bankruptcy […]
Can I File Bankruptcy Without my Spouse?
Are you considering filing for bankruptcy, but unsure if you can do so without involving your spouse? The thought of bankruptcy can be overwhelming, and you may be wondering how it could impact your significant other. Community Property States Community property states abide by the principle that property acquired during a marriage is jointly owned by […]
Debt Management vs. Debt Settlement
Debt management and debt settlement are both methods used by debtors to address their financial obligations. When debtors deal with a lot of debt, it’s key for them to know the difference between debt management and debt settlement. These methods both help with financial struggles but they have different approaches and outcomes. What is Debt […]
What is a 341 Meeting?
When filing bankruptcy, you will be asked to attend a 341 meeting. Continue reading to learn what this will entail and what will be expected of you. 341 Meeting A 341 meeting, also known as a “Meeting of Creditors,” is a meeting that typically takes place within a few weeks after the bankruptcy petition has […]
Will My Landlord Know If I File for Bankruptcy?
Worried about your landlord finding out about your bankruptcy filing? When filing for bankruptcy, things may feel a bit uncertain and sometimes even out of control. But bankruptcy can be the key to taking financial control back. Read on to discover whether a landlord will be informed about a bankruptcy filing and how they will […]
Can You File Bankruptcy on an SBA EIDL Loan?
Are you considering bankruptcy while holding a SBA EILD loan? Here we will look into how bankruptcy relates to the loan and whether the loan is dischargeable in bankruptcy. SBA has sent more than 9 million collection letters in addition to 1.4 million due process letters and other borrower communication. [1] What is a SBA […]
How Many Times Can I File for Bankruptcy in Ohio?
If you are considering filing for bankruptcy and have done so in the past, you may be wondering about your eligibility to file again. We will explore this option and the concerns that may arise. Can I File for Bankruptcy Under the Same Chapter Again? When a person files bankruptcy under Chapter 7, Ohio allows […]
How Does Divorce Affect Bankruptcy in Columbus?
Ohio is ranked #11 with the most bankruptcy filings per capita. [1] Are you in the process of getting a divorce and filing for bankruptcy? Should You File Divorce or Bankruptcy First in Columbus? By filing for bankruptcy before divorce, you can potentially discharge or reduce your debt obligations, giving you a fresh start and […]