Youngstown Bankruptcy Attorney
When You Need a trusted and experienced Bankruptcy Attorney in Youngstown, Ohio – Richard West is the Clear Choice
Richard West Law Office is a bankruptcy law firm that serves Youngstown residents and the greater Mahoning County area. We handle both Chapter 7, Chapter 13 bankruptcy cases, and debt settlement with skill and compassion. Over 30,000 clients through out Ohio have successfully filed for bankruptcy using our expertise and commitment to their financial future.
Over 30 Years Fighting Credit Card Predators
Why Should I Hire a Youngstown Bankruptcy Attorney?
There are many in Youngstown Ohio who need to consult a bankruptcy attorney for help with their finances. There are many options available, and filing for bankruptcy should not be your last resort as it is often said to be.
Bankruptcy law is effective, not like “take your chances” debt management programs which cannot guarantee your success. Don’t gamble with ineffective debt management programs when you need to file for bankruptcy. These programs only make money for them and could end up getting you sued!
Call the Youngstown Ohio bankruptcy attorney who can help you compare all your options, and explain why, in most cases, one option is clearly the best for your unique situation.
Chapter 13 bankruptcy often offers more benefits than Chapter 7, despite the higher number of cases filed Chapter 7 Bankruptcy.
So, don’t settle for a Chapter 7 Bankruptcy attorney who can’t explain your 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 Youngstown You Can
Wipe Out Debt, Keep Your Property & Rebuild Your Credit
Are you a Youngstown, Ohio resident who is burdened with debt? Start here for an explanation on Bankruptcy options.
Chapter 7 Bankruptcy
Personal Chapter 7 Bankruptcy Attorney
As a Chapter 7 attorney in Youngstown, Ohio it is very common for people just like you to file for Chapter 7 Bankruptcy:
A Chapter 7 Bankruptcy will discharge all unsecured debts such as credit card debt, medical bills, utility bills, personal loans or school loans.
A Chapter 7 Bankruptcy will also discharge some priority debts. A priority debt is one that is secured by a government lien or property such as past due child support, student loans at the time of filing, taxes and back mortgage payments.
Chapter 7 is your Federal Law right, and a dignified and totally legal way to get a fresh start, and regain your peace of mind.
Chapter 13 Bankruptcy
Personal Chapter 13 Bankruptcy Attorney
As a Youngstown Chapter 13 Bankruptcy Attorney: Chapter 13 bankruptcies are not filed as frequently as the straight Chapter 7 ones. However, because Chapter 13 is more powerful and flexible, they’re better for many people.
A Chapter 13 Bankruptcy differs from a Chapter 7 in that with a Chapter 13 Bankruptcy, the debtor proposes a repayment plan. But seldom do we pay off all our debt in Chapter 13. In fact, we often file cases that only pay 1% to our unsecured creditors.
However, unlike Chapter 7, we can also lower interest rates on car loans, and actually pay less for our cars in Chapter 13 than we would have to pay by reaffirming the debt in a Chapter 7.
Debt Settlement & Debt Negotiation
The decision to go into debt settlement can have serious repercussions. Settling your debts could lower your credit score, take years off the time it takes to pay them off, and even prevent you from getting a mortgage or car loan in the future.
Debt negotiation has many disadvantages, including a lower borrowing power for years post-settlement. Some people may also be unable to borrow money from institutions like banks or the government due both now and later during retirement.
The merits of debt settlement sound appealing to many, but credit counselors warn that compared to filing bankruptcy, where you pay little or nothing on your debts and then have them reported at zero balance on your credit report, for the most part, this course of action has more negatives than positives for any family.
The Cost of a Bankruptcy Attorney in Youngstown
If you are filing for bankruptcy, it is only natural that you would be concerned with the cost of retaining or hiring a Bankruptcy Attorney. You will find, after doing some research, that the cost of hiring a bankruptcy attorney in Youngstown may not be as intimidating as you think.
Here are some things to consider when looking at how much it will cost to hire a bankruptcy attorney:
- Hiring A Bankruptcy Attorney – if you decide to enlist the help of a professional to help you through the bankruptcy process, you will need to determine how much it will cost. A good attorney will not be able to tell you, in advance of learning about you and your situation what you need, so beware of attorneys who advertise a price without asking about your situation first.
- Quoting a price for services “blindly” is a huge red flag. Like a doctor quoting the price of a treatment or surgery without even examining you first.
- Filing Fees – and legal fees. There are costs, like filing fees, credit report fees, credit counseling fees. And then there are the legal fees. Some attorneys charge a flat fee, some charge by the hour. You should be given a written contract and fee estimate at the beginning of the engagement.
A word of caution. Hiring a cheap bankruptcy attorney in Youngstown can lead to mistakes that will cost you years down the line. Bankruptcy mills are common and they rifle through paperwork which leads to mistakes. You need an attorney experienced bankruptcy lawyers who is versed in bankruptcy law to get the most of filing.
Source of Debt in Youngstown
Almost 33% of families today have medical debt and many with balances over $10,000. If you suffer from incredible medical bills – even if you carry insurance – it’s not your fault, lots of people end up needing to file bankruptcy due to only one serious illness.
- Student loan – American college students are increasingly getting into debt with the cost of tuition increasing dramatically and job prospects declining. Of those who attend university, 42% of those aged 18 to 29 years old specifically, have student loan debt which will be noted on their credit report if they defaulted and would often double the amount owed.
- Credit cards – Credit cards are an unavoidable part of our everyday lives, but it is very easy to get in trouble with them. Taking cash advances on credit cards and transferring the balance from card to card can get you into difficult situations before you know it. The latest trend of giving out credit cards may make your life easier, granting a line of credit for anything under
- Mortgage debt – Home ownership is an American Dream, but there are many costs to consider before buying a home. When they borrow to the max, and don’t set any money aside for these other expenses, their dream of a new home can turn into a nightmare. Sometimes it’s better to walk away from the deal, reset the budget, and start again.
- Lawsuits – Receiving a lawsuit in the mail is frightening. Nowadays, more and more creditors are turning to law firms to sue you when your account becomes delinquent rather than working with you. A lawsuit will almost always result in a judgment against the consumer; some might even find themselves paying back their debts twice! When this type of debt is discharged in bankruptcy, the creditor can no longer “use all legal methods to collect the debt.” It’s done. Over. filing personal bankruptcy will stop these collection lawsuits and protect your income and personal property.
Sources of Debt
What They Can Claim
What They Can Cause
What Debts Can and Can Not Be Discharged?
Common debts discharged in bankruptcy
In a bankruptcy case, most types of debt are discharged. For example, taxes and child support debts typically are not dischargeable. But for many other types of debt, consumers are able to clear their financial slate and work towards more-ambitious life goals.
- Credit card debt – Credit card debt is the number one reason most of my clients file for Chapter 7 or Chapter 13 bankruptcy. Once you file bankruptcy, those credit card balance will be written off. You won’t have to pay for any of the charges that are on your account and no late or over limit fees will become a problem.
- Medical bills – One leading cause for bankruptcy in the United States is unpaid medical bills. With either high deductibles or lack of health insurance, many individuals have dealt with this issue at one point in their life. Filing bankruptcy is common when it comes to medical debt, even necessary in some cases.
- Personal loans – In America, getting into debt with personal loans is easier than ever. Loans like One Main and Mariner are often the first stop on the road to an impossible cycle of debt. Fortunately, these personal loans can be discharged in bankruptcy.
- Cash advance loans – Bankruptcy can erase student loans, cash advance loans and more. Interest rates are high. If you have a cash advance debt and are considering bankruptcy, then don’t worry. Cash advances are often discharged in bankruptcy cases even if you sign a statement that says you will not file for chapter 7 or 13 bankruptcy. In my 35 years as an attorney I have never failed to discharge a client’s cash advance loans.
- Foreclosure and repossession deficiencies – If your home is foreclosed or your vehicle is repossessed, you can get out of the debt by filing for bankruptcy. Bankruptcy will discharge these debts, freeing you from all responsibility to pay them and forcing the creditor to report zero balance due on your credit report. Without discharging the debt in bankruptcy, even if the creditor does not forcibly try to collect, they will usually “park” the debt on your credit report, destroying your credit score.
You can get a bankruptcy to get rid of these debts. Some creditors are aggressive and will take your money. But a bankruptcy can protect you from this. Files Chapter 7 or Chapter 13 to stop the aggressive creditor from taking your money.
Rebuild Your Credit
You may be thinking that filing Chapter 7 or Chapter 13 bankruptcy in Youngstown Ohio will make you a credit nomad forever. But, fortunately, it doesn’t have to stay that way as long as you know what steps to take for your credit repair process. Our program walks you through the credit rebuilding process step by step.
After I had to go through my insolvency, I created a plan that can help you rebuild your credit.
It is not magic and it’s not hard to rebuild credit. You just need a plan that will walk you, step by step, through the process.
Following this simple process, most of my clients see remarkable improvements to their FICO score within a year. Typical results are FICO scores of 650 – 700.
How A Youngstown Bankruptcy Attorney Can Help.
Being in debt in Youngstown Ohio is not a good place to be.
If you live in Youngstown, Ohio, your bankruptcy case will be filed in the Youngstown Bankruptcy Court.
While there are many attorneys in Youngstown, there are only two board certified consumer bankruptcy specialists, recognized by the Ohio Supreme Court, and one of them is Richard West, who is certified by the American Board of Certification.
Don’t think you need bankruptcy? You may not! And Richard West knows that bankruptcy is NOT the right choice for everyone. That’s why he is also a certified debt specialist, and can advise you on your non-bankruptcy options as well as explain how bankruptcy might benefit you.
If you need to file Chapter 7 bankruptcy or Chapter 13 bankruptcy in Youngstown Ohio, you want the best attorney for your needs.
Preferably, an attorney who specializes in your unique situation and is certified and experienced in ALL forms of debt relief.
This is not rocket science, but rather it’s just common sense.
We all know instinctively that if you have a serious problem, you get a specialist to help.
Think about it. The decision you make today will have far-reaching effects on your life for many years to come. You want to get this right, the first time. To do that, you need the guidance of a trusted Youngstown bankruptcy specialist. Call us at (330) 333-5771 or fill out our free bankruptcy evaluation form.
We Service the Following Cities and Communities Outside and Inside of Youngstown, Ohio.
Ready? Get on the Road to Bankruptcy Recovery
We are still open for remote filings in Youngstown 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.