Are you trapped by overwhelming debt? Are you struggling with high interest rates, late fees and harassing phone calls from creditors? Bankruptcy protection can provide you a fresh start. Learn More
We can advise you on how to take action promptly to stop creditor harassment altogether. Talk to an attorney as soon as possible, before creditor harassment gets worse and creditors target you. Learn More
Questions and answers to bankruptcy that can help you.
Bankruptcy is a debt relief remedy established by federal law. It allows for a Chapter 7 fresh start or a Chapter 13 consumer debt reorganization. Filing for bankruptcy can help you drastically reduce or eliminate the bills you cannot afford while keeping your assets such as your car and your house. We can help you determine if bankruptcy is right for you.
The attorneys at Fesenmyer Cousino Weinzimmer offer a free consultation to evaluate your financial situation. Our goal is to help you understand all of your available options and how to implement the best solution for your case.
There are two common forms of bankruptcy — Chapter 7, which allows you have a fresh financial start, and Chapter 13, which is a consumer debt reorganization. Deciding which is best depends on your individual situation.
Chapter 7 bankruptcy is the most common form of bankruptcy. Also known as a “liquidation” bankruptcy, it enables you to discharge (eliminate) most or all consumer and/or business debts. It is over in a few months, so you can begin rebuilding credit quickly.
Chapter 7 may be your best option if your income is too low to pay credit card bills, medical bills, utilities, payday loans or personal loans or if you are facing court action or collection activities by creditors.
Chapter 13 bankruptcy is best for those who do not qualify for Chapter 7 and who have a steady income and financial problems that are temporary. Chapter 13 bankruptcy is also recommended for individuals that may be facing foreclosure or repossessions. Chapter 13 provides a court-approved reorganization plan for you to repay some or all of your debt affordably over a three- to five-year period. You are protected from harassment by creditors, and if you successfully complete the plan, the remaining unsecured debts covered by the plan are discharged.
A debt settlement agreement can sometimes be a workable alternative to bankruptcy. Debt settlement involves negotiating a reduced payoff amount for bills such as medical bills, credit cards, mortgages and vehicles.
Your creditors may agree to a settlement for less than what you owe in order to prevent having you file for bankruptcy, in which case they might not get anything. They may settle for a lump payment if you can come up with 40 to 60 percent of what you owe, or they may accept payments for a lesser amount. An experienced attorney can help you negotiate the best possible settlement.
When faced with foreclosure, there are many options available from letting the house go to filing for bankruptcy or even reinstating a loan. Once a foreclosure complaint is filed with the county court it is imperative to seek legal advice immediately to ensure your rights are protected. One of our experienced attorneys can review your foreclosure proceeding to determine what solution will work best for you.
If you find yourself struggling with debt and unable to deal with creditors, there is help available. Take the first step toward debt relief and contact us today for a free initial consultation. To schedule a consultation with an attorney, email us through this website or call us at one of our office branches at 614-228-4435 (Columbus), 937-222-7472 (Dayton), or 877-654-5297 (Cincinnati).
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
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