Akron Bankruptcy Attorney
Trusted Filer of Chapter 7 and Chapter 13 Bankruptcy in Akron, Ohio
Richard West Law Offices has been helping clients like those in Akron, Ohio Since 1986 to file for bankruptcy protection under US Bankruptcy Code, Chapter 7 and Chapter 13.
It is essential to contact an Akron Ohio bankruptcy attorney with years of experience because in the crisis of the economy, these matters require a professional who can analyze your assets, liabilities, income, expenses and credit history. Richard West Law Office will work with you to devise a plan based on your specific situation and help you achieve the goals that are important to you. We have helped over 30,000 clients with debt relief.
Over 30 Years Fighting Credit Card Predators
By Filing for Bankruptcy & Debt Relief in Akron, Ohio You Can
Wipe Out Debt, Keep Your Property & Rebuild Your Credit
If you live in Akron Ohio or the surrounding communities we can help you with Bankruptcy Chapter 7, Chapter 13, and Debt Settlement matters.
THE COST OF AN ATTORNEY
Sources of debt in Akron
How we can Help
Chapter 7 Bankruptcy
Personal Chapter 7 Bankruptcy Attorney
In Akron Ohio, more and more people have found themselves with excessive debt and no way of paying it off, Chapter 7 bankruptcy lawyers have become a necessity to many people that find themselves coming up too short every month.
With the economy struggling as hard as it has been over the past few years in Akron Ohio, more and more people are finding that their credit card bills are much larger than they are able to pay off. After considering the possibility of filing for bankruptcy in Akron Ohio, many individuals have concluded that this is a decision they need to make.
Many people do not know exactly what Chapter 7 bankruptcy will mean for them personally though, which is why it is important for anyone who will be filing for Chapter 7 bankruptcy in Akron Ohio to find an experienced bankruptcy attorney in Akron Ohio. There are a lot of benefits to filing for Chapter 7 bankruptcy in Akron Ohio, which are fully explained here on this website.
One of the main reasons that many individuals choose to file for Chapter 7 is because it does not require any repayment plans or long term agreements, except of course, for cars and houses which they reaffirm and keep in Chapter 7. This allows people to start over fresh without worrying about facing financial issues later on because of the debt that was in their way before.
Chapter 13 Bankruptcy
Personal Chapter 13 Bankruptcy
Chapter 13 is a great choice for residents of Akron Ohio who can afford to pay something towards their debts, but but not all of them. Chapter 13 lets you pay what you can, and the amount you owe beyond that is discharged.
There are other benefits, too, like the cram down on cars. This could allow you to keep your car and only pay what it’s worth, not what you actually owe. This could save you thousands of dollars.
And, the interest rate on cars can be reduced to about 5.5%.
You can catch up missed payments on your home and cars in Chapter 13. This is not possible in Chapter 7. Saving cars from repossession, even getting them back after they have been repossessed, is a common use of Chapter 13.
Similarly, when you get behind on your home and the bank files a foreclosure action, Chapter 13 is often the only way to stop the foreclosure, and save your home.
With all of the mortgages in forbearance due to Covid 19, it is anticipated that there will be many Chapter 13 cases filed in order to prevent people in Akron from losing their homes.
Debt Settlement & Debt Negotiation
Debt settlement is a tactic to negotiate with creditors and agree on the amount owed that will be paid back in full, but there are some risks involved.
If you don’t have the funds to pay for an account, debt settlement will not settle the matter and your account will accumulate more debt. You could actually end up owing more than when you start. Or, the creditor may not work with you at all.
The other risk is that your creditors may take legal actions against you. Debt settlement is 100% voluntary, whereas a bankruptcy forces the creditor to settle for nothing in a Chapter 7, or less than what they are owed in a Chapter 13.
It’s a risky decision. If you lose, you will file bankruptcy and it will affect your credit for a long time. Debt settlement is also risky because it affects your credit for a longer period of time
The Cost of Bankruptcy Attorney in Akron
Like many things in life, you get what you pay for.
Retaining the services of the right bankruptcy lawyer for your needs is really an investment in yourself and in your financial future.
How many times have you tried to save money, only to later end up having your decision cost you MORE than you would have paid if you had only spent the right amount in the first place?
Saving money by taking a chance on a cut-rate, corner-cutting attorney could end up being more expensive than you think. Mistakes in a bankruptcy case can cost many times what you may think you are saving.
Strange but true, some attorneys think advertising for cheap legal services will net them more clients.
Who goes to the cheap heart surgeon? Or the cheap oncologist to treat cancer? Can’t think of anyone? Neither can I.
Don’t try this. At Richard West Law Office, we make our top-notch, board-certified expertise available to you in a way that you can afford it.
We have payment plans which are customized to our clients. We respect your budget. We will start working for you, and protecting you, accepting all of your creditor calls right away.
And, although we don’t advertise for it, in some cases, we will even accept your case for no money down.
Source of Debt in Akron
Nearly one-third of Akron Ohio families have accrued debt from medical expenses, with the unpaid balance often costing more than $10,000 per patient in USA. Medical expenses remain the leading cause of bankruptcy with 47% of personal bankruptcies directly linked to hospital bills. This is in part due to overpriced medical procedures and supplies, extreme negligence on behalf of medical practitioners (absenteeism, malpractice, etc.), frivolous lawsuit awards for medical malpractice, the high costs associated with treatment without health insurance or having high deductibles.
Student loans are a problem for many people in Akron Ohio. Having student loan debt on your credit report can lower your score if the payments are not made on time. Usually a lower score will make it harder to get a loan. It may also have an effect on your insurance rate, and other factors.
Total student loan debt in the United States has surpassed $1 trillion as of December 2012. Students attending four-year institutions have more than doubled their total cumulative debt since 2005 to nearly $29,000.
Credit cards are an unavoidable part of life, but care should be taken. The best way to use credit is:
– never get more than one card at a time
– only carry the balance that you’re comfortable with
– when possible, pay off the balance each month
But when you need to rely on credit cards for living expenses, and start using them to pay other cards, this is a sign you need to speak with a debt specialist.
Home ownership is the American dream. Historically low interest rates are enabling many to take steps that they should have not taken for years. Housing prices skyrocketing, and many are rushing into a purchase before even considering all of the associated costs going with it, like mortgage, insurance, taxes and other expenses. When people borrow up to their maximum and leave nothing for their future, the financial problems might be overwhelming.
For example, a person with $100K income can afford to purchase $250k house based on 4% down payment ($6300), but if property taxes are $7000 and insurance is another $4000 annually (just 5-10% of initial cost depending on area), this person is looking at using over $11,000/year for those two items alone. And those are only two of the most significant expenses, that if missed could result in property tax liens and even foreclosure.
Getting sued can invoke a sense of panic and fear, but oftentimes it is actually the leading event in a chain of events that result in repossession or foreclosure. Having a lawyer to handle your debt is a smart move, and it’s important to research the different options available.
Sources of Debt
What They Can Claim
What They Can Cause
Protect Yourself From Creditors
If you have been struggling in Akron for a while with debt and it’s finally become too much to handle, we can help. We’ll stop the harassing phone calls from creditors, eliminate any liability stemming from late payments and judgments by filing bankruptcy, or advise you on other, non-bankruptcy options.
Being in deep debt not only brings out the worst in you, but can also impact your personal life. Don’t wait any longer to address this serious situation and speak with us for a free consultation today – call now!
Types of Debts Discharged in Bankruptcy
Common debts discharged in bankruptcy
Most types of debt are discharged in bankruptcy cases. Some exceptions include most taxes, child support debt and student loans, but many consumers discharge all of their debts when filing for bankruptcy protection.
Credit card debt
Excessive credit card debt is the main reason that thousands of my clients file for Chapter 7 or Chapter 13 bankruptcy.
A common misconception about bankruptcy is that it will prevent you from ever getting a credit card. That’s not true. Just the opposite is true, filing for bankruptcy offers the opportunity to improve your credit score.
In addition to credit card debt, another leading reason for bankruptcy is unpaid medical bills. The high deductibles on health insurance make any sort of medical situation a potential financial disaster for the patient and their family.
Debt discharged in bankruptcy does not mean you can never go to the doctor or hospital. Hospitals and doctors are obligated to treat you just as they would any other patient.
Personal loans are a huge problem in America. Everyday, there are finance companies like OneMain, Mariner and Tracir that make getting into terrible debt situations easier than ever by providing high interest rates that rival any one of the new online lending places like BestEgg, SoFi and Lending Tree.
The good news is that these personal loans can be discharged in bankruptcy.
Cash advance loans
We also wipe out cash advance loans in bankruptcy as part of our debt elimination services. The interest rates are high. Easy to get into, nearly impossible to get out of.
Don’t worry, these are easily discharged in bankruptcy. It doesn’t matter even if you sign an application that says you won’t file bankruptcy. I’ve never failed to successfully discharge a cash advance loan in my 35 years of practice.
Foreclosure and repossession deficiencies
If your mortgage is foreclosed or you have a repossession, the debt will be discharged in bankruptcy. If your car was repossessed, don’t worry–the deficiency balance will be discharged in bankruptcy.
Another common debt that is easily discharged in bankruptcy is judgment debt. There are certain exceptions, but it’s pretty easy to discharge a judgment if it was not for property or another homestead exemption protected item. It does not matter who the creditor is–it can be a hospital, bank or credit card company.
Rebuild Your Credit
Sadly, many bankruptcy filers who file Chapter 7 or Chapter 13 in Akron Ohio continue to suffer from credit deficiency or bad credit for a long time because they don’t know how to restore their finances after filing.
It was challenging for me to rebuild credit after being discharged from bankruptcy, but I created a simple plan that has worked very successfully and quickly.
You can rebuild your credit back to where it should be after a bankruptcy by following the right path.
The vast majority of my clients who comply with the following program rebuild their credit scores to 650-700 within a year of their Chapter 7 bankruptcy discharge, or while they are still in a Chapter 13 bankruptcy proceeding. These types of results are typical and some even get higher scores!
How Your Akron Bankruptcy Attorney Can Help.
Trust our 35 years of experience, and proven track record of success.
Being in debt in Akon Ohio is not for you!
If you live in Akron, Ohio, your case will be filed in the Akron Bankruptcy Court While there are several bankruptcy attorneys in Akron, Ohio, you’ll find only one board certified consumer bankruptcy specialist, recognized by the Ohio Supreme Court, Richard West, who is certified by the American Board of Certification.
Richard West understands that it’d important to consider all your options for debt relief. He knows that bankruptcy may not be the best option for you. This is the reason that he became a certified debt specialist, in addition to being a board certified consumer bankruptcy specialist, so he could help those clients who don’t need to file bankruptcy find the right If non- bankruptcy debt relief programs.
If you’re in Akron Ohio and need to file Chapter 7 bankruptcy or Chapter 13 bankruptcy, get the best counsel you can. For best results, consider one who specializes in your kind of problem and is certified and experienced in ALL forms of debt relief.
This is not rocket science. It’s really just common sense.
We all know that when you have a serious problem, you need to get a specialist to help. Your decision in choice of counsel will have lasting and profound effects on your future financial situation.
Get this right, the first time! Get the best bankruptcy attorney in Akron Ohio for your needs.
We Service the Following Cities and Communities near Akron, Ohio.
Ready? Get on the Road to Bankruptcy Recovery
We are still open for remote filings in Akron and remote consultations during the pandemic. All consultations are free and there is no catch. We only work with clients who want to work with us. Nothing high-pressure. We look forward to assisting you.