Reynoldsburg Bankruptcy Attorney
Trusted Chapter 7 and Chapter 13 Bankruptcy Attorney in Reynoldsburg
Personal Bankruptcy Attorney Richard West has helped thousands of clients file for Chapter 7 Bankruptcy & Chapter 13 Bankruptcy in Reynoldsburg. He’s a Board Certified Consumer Bankruptcy Specialist, and a certified Credit Counselor and Debt Arbitrator. He compares all of your options, so you get the best results. We are a debt relief agency.
Over 30 Years Fighting Credit Card Predators
You are not alone. Many in Reynoldsburg Ohio need the help of a good bankruptcy attorney.
You have many options, and bankruptcy should not be your “last resort” as you hear all the time from uninformed people.
I like to think of it this way. If I needed surgery, why would I want to waste time with drug store remedies? If I really need to file bankruptcy, I should not be wasting time with ineffective debt management programs.
You should call the Reynoldsburg Ohio bankruptcy lawyer who is qualified to help you compare all your options, both bankruptcy and non-bankruptcy.
Importantly, you need to understand how Chapter 13 bankruptcy offers more advantages than Chapter 7 Bankruptcy! Too often people settle for a Chapter 7 Bankruptcy attorney who fails to explain options in in Chapter 13 as well.
You could be missing out on thousands of dollars saved if you do.
By Filing for Bankruptcy Relief in Reynoldsburg You Can
Wipe Out Debt, Keep Your Property & Rebuild Your Credit
Are you a Reynoldsburg, Ohio resident who is burdened with debt? Start here for an explanation on Bankruptcy options.
Chapter 7 Bankruptcy
Personal Chapter 7 Bankruptcy Attorney
Chapter 7 bankruptcy is typically used when you have a lot of debt and no reasonable way to pay it off. It’s the best option for some people because want their debts discharged as quickly as possible so they can immediately get a fresh start.
In addition, Chapter 7 bankruptcy can help people keep many types of property, such as a home, car, or furniture. This is because you can “reaffirm” these secured debts, and discharge your unsecured debts, which frees up money to pay for the things you want to keep.
There are many benefits of filing for chapter 7 bankruptcy. Chapter 7 is consumer bankruptcy. You will read that this means liquidation of assets and discharge of debt. But this is seldom the case. Most of our property is protected by law, so you almost never see any property lost when you file Chapter 7 Bankruptcy.
Chapter 7 Bankruptcy generally has two goals: wipeout credit card and other unsecured debts and help the debtor(s) become financially stable again. It is the most common form of bankruptcy protection.
Chapter 13 Bankruptcy
Personal Chapter 13 Bankruptcy
I have been filing Chapter 13 bankruptcy for over 35 years and confidently tell you that Chapter 13 Bankruptcy is probably the most powerful and flexible debt relief option that exists. More people should file Chapter 13 bankruptcy than do, because many who qualify for Chapter 7 Bankruptcy don’t consider the Chapter 13 option.
Chapter 13 bankruptcy is a well-known option for people who have been able to keep up with their payments but are not getting ahead, and don’t want to continue making minimum payments for the rest of their lives.
Also Chapter 13 bankruptcy is also a great option because it can stop foreclosure or repossession of your home.
Chapter 13 bankruptcy is only available to consumers who have a regular source of income. The payment plans last for 3-5 years.
Chapter 13 also protects your property from creditors and allows you to make one monthly payment to a trustee. Payments are made out of your current income, so you should not need to rely on credit card debt or other loans to meet your living expenses.
After the repayment plan is completed, all of your remaining dischargeable debts will be erased from your credit report and won’t impact your ability to apply for any new credit. This is an advantage to chapter 13 bankruptcy because you can file this type of bankruptcy in order to stop foreclosure on your home and then use a payment plan to catch up on the mortgage after the bankruptcy is over.
Debt Settlement & Debt Negotiation
Debt settlement is sometimes an option to save money and not have to declare bankruptcy, but there can be major drawbacks. Debt settlement is when someone pays back their debt over time (usually over a period of 2-5 years) and the creditor agrees to write off the remaining amount.
The danger of debt settlement is that if you miss even one monthly payment on your debt, your creditor may threaten to sue you for non-payment. You may try and settle with them at this point or may have to file for bankruptcy, which means you will have lost all the time and money invested in the failed debt settlement plan.
If you choose to settle, then the debt management plans, of course, will charge you for their services (this is how they make money). Debt settlement is not free. While you may save some money by settling your debts, it often eventually will all catch up with you. Often this turns out to be a more costly option than bankruptcy.
But if you have no other options and want to be able to keep your assets (like your house), then this may work for you.
So why should you even consider filing bankruptcy? If you are suffering from medical bills or other debts that come as a result of being sick, bankruptcy is the best way to alleviate your worries. With bankruptcy, you can protect many of your assets (your home in particular) and not have to worry about paying back loans for a certain amount of time as the statute on debts is extended. Sometimes these debts can be wiped out altogether.
The Cost of a Reynoldsburg Bankruptcy Attorney
Consider these few points when looking for the right bankruptcy lawyer:
When looking for a qualified attorney for your bankruptcy proceedings, a cheap bankruptcy lawyer in Reynoldsburg is not the best way to go, nor are bankruptcy mills as you will be the one to suffer the consequences years down the road. An experienced and certified bankruptcy attorney is your best bet for getting optimal results.
1) You get what you pay for. Hiring an experienced, certified attorney in this field will cost more than the bargain-basement cut-rate lawyers.
2) You’ll likely have your debts discharged with confidence, and with less probability of complications, than if you choose someone who may cut corners in order to advertise for cheapest rates.
Don’t think that hiring a low-quality lawyer, just because their rates are cheap, will result in the best outcome for you.
At Richard West Law Office, we get the big picture. We address all of your concerns and needs (whether or not they involve money), we know how to properly work out payment plans that will work within your budget and as an added bonus, if necessary on occasion, even the down payment is waived. We care more about you than that!
Source of Debt in Reynoldsburg
According to CNBC, with medical emergencies and different types of coverage on the rise, a third of households today have medical bills. The percentage is even higher for those who don’t get insurance through their job or government programs: “almost one third” are in this category. Nearly 30% of these families owe more than $10,000 in unpaid medical
Students account for 42% of individuals in the age bracket of 18 to 29 who have a student loan. This is an important component for Reynoldsburg, Ohio residents, since it’s been found that your credit ratings are lowered by defaulting on these loans. But, by discharging other debts in bankruptcy, you may now have money freed up to begin payments on student loans.
According to a survey by CreditCards.com, over 70% of debtors say they would file for bankruptcy if there was money in the budget to make other payments. 27% said they’d have enough left over after their credit cards were paid off; while 28% thought that paying off all their other debts would enable them to focus all their money on their credit cards. In fact, many people experience relief simply by being able to mark one item off their list of debts; after filing for bankruptcy, it’s not uncommon to see creditors call and apologize for high interest rates or late fees that were unfairly applied to the account.
The American Dream sometimes turns into a nightmare. Costs of home ownership is more than the house payment.
Many homebuyers, especially first timers, fail to recognize that there are many associated costs with owning a home. When these new homeowners borrow up to their max and don’t have any money left for other expenses, then the dream of a new home can turn into a nightmare. Sometimes it’s better to let go of that house and start from scratch
Many consumers are seeing the same frightening experience come their way these days- a lawsuit in the mail. The easy solution, many Americans think, is to pay off what was owed and avoid future contact with the creditor. For some people paying off the debt does end up being an effective strategy- but for others it just leads them into more of a financial bind. And for many, it’s just impossible.
There are options out there for consumers who want to steer clear of this lawsuit debt. By filing bankruptcy, many consumers can discharge the debt from their judgment and pay nothing on it in the future. Consumers will also be able to rebuild their credit score by showing new creditors that they have a history of paying bills on time.
We have a tremendously effective credit rebuilding program, which typically results in credit scores of 650 – 700 within only a year of your discharge.
Sources of Debt
What They Can Claim
What They Can Cause
You might have already tried to deal with your creditors on your own. Credit card companies, student loan lenders, and collection agencies are powerful, intimidating forces whose sole objective is to squeeze money out of you at any cost. They don’t care if they ruin your credit or make it impossible for you to borrow again in the future. When a debt collector in your life threatens you or has already sued you, it’s time to get professional help and end the harassment once and for all.
You owe money—we can help stop the collection! Our bankruptcy attorneys have been assisting clients with their financial problems for over 35 years.
Types of Debts Discharged in Bankruptcy
When most people file for bankruptcy, they are able to have their debts discharged.
Except for taxes, child support debt and student loans, most of your debt is wiped out forever.
Credit card debt – Credit card debt is one of the top reasons we file for Chapter 7 or Chapter 13 bankruptcy.
You’ve probably paid a lot more than what you borrowed to the credit card company, due to high interest rates, late fees and over-limit fees. Filing for bankruptcy will even it out, don’t worry! You can get new credit cards.
Medical bills – Another leading reason for bankruptcy is unpaid medical bills. Even though you may have health insurance, high deductibles pose a significant threat to your financial stability.
Filing bankruptcy on medical debt is a common option, and necessary in many cases. However, your health needs will not be neglected if you undergo this process, and you will still be able to get health care, even after discharging medical debt.
Personal loans –
Personal loans are a big problem in America. Finance companies like One Main, Mariner, and Tracir make getting into impossible debt situations easier than ever––not to mention online loans from BestEgg, SoFi or LendingTree.
Fortunately, these personal loans can be discharged in bankruptcy.
Cash advance loans –
Cash advance loans are a short-term, high interest loan––usually from $100 – $1000. They can be a solution when you don’t have long to pay for an expense, but they will cause more problems than benefits if used without caution.
If you file bankruptcy these are dischargeable.
Foreclosure and repossession deficiencies – If your home is foreclosed or your car is repossessed, don’t be surprised if you are sued and you may owe a deficiency to the creditor. All of these debts will be discharged in bankruptcy.
These debts can be removed by filing bankruptcy. Some creditors are very aggressive, and will seek to garnish your pay or wipe out your bank accounts. Filing Chapter 7 or Chapter 13 can protect you from these aggressive collection tactics.
Rebuild Your Credit
Because of common misunderstanding and the overall lack of any guidance provided to clients by most bankruptcy attorneys, many people assume they will have no credit for some time after. Thankfully, this isn’t always the case. Not if you have my program to help you.
I am a certified credit counselor, and I had to rebuild my credit after going insolvent. So that’s why I created this very effective yet easy to follow plan to help you rebuild your credit quickly following bankruptcy.
If you want to get your credit back on track, bankruptcy can help clear the slate and set you up for future success.
Most of my clients, all who follow this simple program, achieve a FICO score in the 650-700 range one year after their bankruptcy.
How to Choose A Bankruptcy Attorney in Reynoldsburg
It is important to be wary of bankruptcy lawyers near you that provide the bait-and-switch tactic. Cheap bankruptcy mills often use this approach, which will inevitably come with a steep price and false promises about savings.
Bankruptcy can be a scary and expensive process. But, if you’re looking for the best representation possible in Middletown it’s worth taking time to find the right bankruptcy lawyer near me who will prevent bankruptcy mills from hurting my finances more than necessary by tricking unsuspecting clients into thinking they save money when really their case is more expensive than what could have been had with an experienced attorney that knows how to represent them properly. $500 dollar bankruptcy tactics can really cost your in the end.
Our bankruptcy law firm is here to help you with any case, no matter the severity of your situation. With affordable services for every client and a knowledgeable team on their side; we are confident that our clients will leave satisfied.
We understand how stressful it can be when going through financial difficulties–that’s why at ours bankruptcy law firm we ensure every individual has access to an educated legal team who specializes in this area of work so they’ll have someone fighting alongside them during these trying times.
How a Reynoldsburg Bankruptcy Attorney Can Help.
We have the proven track record, and board certified expertise you can rely on.
Being in debt in Reynoldsburg Ohio is not a good place to be.
The Reynoldsburg and Columbus area have some of the highest bankruptcy filing rates in the state. If you live in Reynoldsburg, your case will be filed in the Columbus Bankruptcy Court.
While there are other attorneys in Reynoldsburg, , there are only two board certified consumer bankruptcy specialists in the entire Columbus Ohio area who are recognized by the Ohio Supreme Court, and one of them is Richard West, who is certified by the American Board of Certification.
There are many factors to consider when evaluating your debt relief options. Richard West knows that bankruptcy is not the best option for everyone.
That’s why he is also a certified debt specialist, who has assisted many of his clients work out their debts in non- bankruptcy programs.
Whether you need Chapter 7 bankruptcy or Chapter 13 bankruptcy in Reynoldsburg, Ohio, it’s best to get the right kind of counsel.
When you have a serious problem, it’s best to get a specialist. The decision that you make now will affect your financial stability for many years to come, so it’s important that you hire the right bankruptcy lawyer in Reynoldsburg Ohio for the job.
We Service the Following Cities and Communities near Reynoldsburg, Ohio.
Ready? Get on the Road to Bankruptcy Recovery
We are still open for remote filings in Reynoldsburg 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.