Working with a Bankruptcy Attorney in Springfield
Working with a local Springfield, OH, bankruptcy attorney, especially with regard to bankruptcy proceedings, is an incredibly valuable decision. While general bankruptcy laws are federally governed, states DO legislate specific policies. Thus, you want someone who understands both the federal and Ohio state laws to represent you.
With offices throughout in central and southwestern Ohio, our bankruptcy attorneys in Ohio are well-positioned to help those whom we represent throughout the entire bankruptcy process. We work closely with each of our clients, from beginning to end, helping them to understand their current financial position and identify the best steps for their financial future. Call our team at 937-222-7472 and let’s discuss your options for debt relief to find out if filing bankruptcy in Springfield is the right choice for you.
Understanding Your Options: Which Type of Bankruptcy Should You Declare?
Our Springfield bankruptcy lawyer will review the different types of bankruptcy with you and help you determine which is most appropriate for your specific case.
We understand and appreciate that every person’s situation is unique. We take the time to learn about you and your circumstances to help you make the best possible choices.
The first step in the process of filing bankruptcy in Springfield, OH, is understanding the two different types of bankruptcy and deciding which is most appropriate for you.
Filing for Chapter 7 Bankruptcy in Springfield, OH
Often referred to as “liquidation bankruptcy,” Chapter 7 bankruptcy may be the right choice for you if you truly cannot afford to pay your bills. This declaration helps to relieve almost all of your consumer debt. Because it is a fast-moving process (a few months) you have the opportunity to get back on your feet, move forward, and begin building credit again quickly.
That said, the process may require the sale of some of your personal property to help pay your creditors. Not everyone is eligible to file for Chapter 7; there are income restrictions. The government form “Chapter 7 Means Test Calculation” helps to determine whether Chapter 7 is an option.
Our Springfield bankruptcy lawyers will determine which chapter you qualify for, assessing your situation to provide the best possible advice. Debts that can be alleviated in a Chapter 7 bankruptcy filing include:
- Medical bills
- Credit card bills
- Personal loans
- Utility bills
- Certain back taxes
Other expenses may also be eradicated. Our bankruptcy attorneys in Springfield can help you understand exactly what qualifies.
Filing for Chapter 13 Bankruptcy in Springfield, OH
Chapter 13 is also known as a reorganization bankruptcy. If you are employed and receiving regular paychecks, Chapter 13 bankruptcy may provide you additional time to pay your debts, time that is not available without completing the filing.
If you applied for Chapter 7 bankruptcy and did not meet the qualifications of the Means Test, you may still qualify for Chapter 13 bankruptcy.
While working through this process with a bankruptcy lawyer in Springfield, OH, you can eliminate some of your debts while restructuring others, ultimately reducing your payments and extending your payment times. Basically, you retain your assets and rebuild your financial health.
Once you declare bankruptcy under the laws governing Chapter 13 bankruptcy, you will be safe from both home foreclosure and repossession of your assets. Additionally, your wages will not be garnished.
In addition, you will no longer receive the often annoying and stressful letters and telephone calls from creditors, due to the automatic stay provision of Ohio Bankruptcy Law. The elimination of these notifications alone can provide a sense of peace. Talk to our bankruptcy attorney in Springfield to find out if this is the best option for you.
How to Choose Your Best Option for a Bankruptcy Lawyer in Springfield, Ohio
Struggling under mountains of debt that you simply cannot afford to pay is frustrating and incredibly disheartening. Financial difficulties can affect anyone, and even the most financially successful, fiscally conservative and responsible person can find themselves in troublesome situations, particularly during challenging times like these.
The Benefits of Working with Fesenmyer Cousino Weinzimmer
Our Springfield bankruptcy lawyers can help you comprehend the ramifications of your current financial position as well as the options that exist for debt relief. The process of declaring bankruptcy is multifaceted and complex. As your legal representative, our Springfield bankruptcy lawyers will:
- Manage Your Creditors: We will take the lead on communicating with your creditors, helping to clear your debts. We will put a stop to the harassing phone calls and letters from creditors.
- Complete Legal Forms: The paperwork associated with declaring bankruptcy can be overwhelming. Both your creditors and the government require significant documentation. As your attorney, we will complete and submit the myriad of necessary legal forms on your behalf.
- Provide Representation: The process of declaring bankruptcy often requires participation in at least one hearing. Called a Meeting of Creditors (or 341 Meeting) this proceeding is mandatory.
We will attend this meeting with you. Additional participants will include the Bankruptcy Trustee (the individual appointed by the U.S. Trustee Program who administers the proceedings) as well as your creditors. Our Springfield bankruptcy attorneys will coach you so you know what to expect. Recognize that failure to attend this meeting could result in your case being dismissed; you would not be able to declare bankruptcy.
While we realize that no two bankruptcy situations are identical, and we provide each of our clients personalized and attentive service.
Our team of bankruptcy attorneys in Springfield, OH, strives to leave you well-positioned in your financial future. Together we will establish a path to pay off any remaining debts while allowing you to continue to live your life while preparing for a brighter and less financially stressful future. We will protect you and your family throughout the entire process.
Depend on Our Experienced and Affordable Springfield Bankruptcy Attorneys
For those filing for bankruptcy, money is clearly an issue. We appreciate your current financial situation. As such, we offer all of our potential clients a free consultation during which we will gain a better understanding of your personal situation and help you determine the best course of action.
Contact a Springfield bankruptcy lawyer on our team at 937-222-7472 to schedule an appointment today. We look forward to leveraging our specialized knowledge and hands-on experience to help you embark upon a new beginning.