Category Archives: Chapter 7

Chapter 7 Bankruptcy Liquidation

Ohio Debt Relief, Credit Counseling & Bankruptcy Attorney

Chapter 7 is the most common consumer bankruptcy. It allows you to eliminate all of your unsecured debt, such as credit cards, medical bills, and personal loans. This type of bankruptcy takes very little time to complete usually between three to six months before all of your qualifying debt will be discharged. Liquidation Bankruptcy Chapter […]

Chapter 7 Bankruptcy Assets

Ohio Debt Relief, Credit Counseling & Bankruptcy Attorney

Chapter 7 bankruptcy is considered liquidation or straight bankruptcy. Chapter 7 discharges or eliminates all your unsecured debts such as credit cards. There is no repayment plan, and this type of bankruptcy is shorter than the others, usually completed in three to four months. Many more debts are discharged without payments in this type of […]

What is an Ohio Involuntary Chapter 7 Bankruptcy?

Ohio Debt Relief, Credit Counseling & Bankruptcy Attorney

Creditors expect to be paid back when making loans, and bankruptcy laws in America act in the interest of, not just debtors, but also creditors, through the involuntary bankruptcy process. Involuntary bankruptcy serves as a way to force unwilling debtors to reorganize their debts or liquidate their assets in an effort to satisfy a loan. […]

Cleveland Ohio Bankruptcy: Discovery Tours

Ohio Debt Relief, Credit Counseling & Bankruptcy Attorney

Amid much controversy, the Mayfield Village, Ohio Company called Discovery Tours Inc. filed for Chapter 7 liquidation bankruptcy with the U.S. Bankruptcy Court in the Northern District of Ohio. In its bankruptcy petition, Discovery Tours claimed both assets and liabilities in the $1,000,0001 to $10 million range. Not your typical bankruptcy proceedings, the company is […]

How Do I Know When My Chapter 7 Bankruptcy is Finished?

Ohio Debt Relief, Credit Counseling & Bankruptcy Attorney

Knowing when your chapter 7 bankruptcy is finished is important information. It’s a question poised to experienced bankruptcy attorneys in Dayton, OH all the time. You’ll know when the Bankruptcy Court has finished your Chapter 7 bankruptcy case when you receive a copy of the discharge papers from the Bankruptcy Court Clerk. This could happen […]

Common Chapter 7 Bankruptcy Means Test Mistakes

Ohio Debt Relief, Credit Counseling & Bankruptcy Attorney

While Chapter 7 bankruptcy is the most common form of debt relief when filing for an Ohio bankruptcy, not everyone will qualify. In order to be eligible for Chapter 7 bankruptcy protection, you must pass the bankruptcy means test. The means test is meant to give the bankruptcy court and trustee insight into your household […]

Xceligent Files Chapter 7 Bankruptcy

Ohio Debt Relief, Credit Counseling & Bankruptcy Attorney

One of the biggest commercial real-estate data firms in America, Xceligent, filed for liquidation this week. The decision to shut down the company comes after discussion with CoStar Group to settle litigation over alleged data theft. While companies that wish to remain in business and negotiate with creditors can file for Chapter 11 bankruptcy protection, […]

Can I Keep a Second Home in Chapter 7 Bankruptcy?

Ohio Debt Relief, Credit Counseling & Bankruptcy Attorney

This question emerged in a Chapter 7 bankruptcy proceeding in 2017 where a man owned a home which had two mortgages. After getting married and having three children, he incurred over $60,000 in student loan debt to obtain a master’s degree. Then once his mother-in-law needed to move into their home, the man and his […]

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Regarding: COVID-19
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CALL US (937) 748-1749