Sometimes, no matter how well you plan your finances and try to live within your means, you might still need help to break even and stay afloat. You might be drowning in debts like medical bills, credit cards, mortgages, or student loan debts. If this is your case, you need to start fresh — and a Cincinnati bankruptcy lawyer can help you do it.
At Fesenmyer Law Offices, LLC, our attorney knows the difficulties of financial problems and filing for bankruptcy. We will assess your case and create a customized plan to end your debt and start moving toward financial wellness.
If you’re struggling with unmanageable debt, it’s time to make a change. Declaring bankruptcy is not admitting defeat — it’s taking the first step toward a stronger financial future.
Why Choose Us?
Our team understands the delicate nature of bankruptcy cases and has helped thousands of Cincinnati residents navigate the process. Here are a few reasons to consider working with us:
- We specialize in bankruptcy, and you will be working directly with the attorney who will be handling your case.
- We take the time to get to know you and your unique situation.
- We keep our legal fees as affordable as possible.
- We offer convenient payment plans.
Not sure if we’re the right team for you? We invite you to schedule a free, no-obligation consultation.
What Type of Bankruptcy Should You File?
Understanding Your Options
In Cincinnati, Ohio, individuals can file two types of bankruptcy: Chapter 7 and Chapter 13. Which type you file depends on your goals and your financial situation.
Chapter 7 Bankruptcy
Otherwise known as fresh start bankruptcy, Chapter 7 allows you to start fresh by eliminating most of your unsecured debts. Most people pursuing individual bankruptcy file for Chapter 7. Chapter 7 bankruptcy may be the better choice for you if the following apply:
- You have a relatively low or inconsistent income.
- You have few assets.
- You have an unmanageable amount of unsecured debt.
To be eligible to file for Chapter 7 bankruptcy, your household income must be less than the Ohio median. Once you file the petition, an automatic stay goes into effect. This keeps creditors from harassing you and stops foreclosure, wage garnishment, and debt collection lawsuits.
Chapter 7 bankruptcy leads to the discharge of many unsecured debts like credit cards, payday loans, personal loans and lines of credit, medical bills, and past-due rent. However, you can’t wipe out all types of debt. Usually, you can’t discharge past-due taxes, student loans, spousal support, or child support.
Chapter 7 bankruptcy cases are over much quicker than Chapter 13 cases, and your debt can often be discharged in a few months.
Considering bankruptcy? Let us help. Call Fesenmyer Law Offices, LLC today at 614-228-4435 (Columbus), 937-222-7472 (Dayton), or 877-654-5297 (Cincinnati).
Chapter 13 Bankruptcy
A Chapter 13 bankruptcy (also called reorganization bankruptcy) allows you to reorganize assets, consolidate your payments to avoid fees and fines, and repay some or all of your debt affordably over three to five years.
Chapter 13 bankruptcy may be the better option for you if the following apply:
- You have a reliable income.
- You have at least some disposable income to put toward your debts.
- You have assets that you’d like to keep.
To be eligible for Chapter 13 bankruptcy, you must have a regular income that is enough to cover your living expenses and make monthly payments toward your debt. You must submit a proposed repayment plan detailing how you will pay off your debts within a specified period.
Like Chapter 7 bankruptcy, filing a Chapter 13 bankruptcy petition triggers an automatic stay and keeps creditors at bay. Unlike Chapter 7 bankruptcy, your assets won’t be seized and sold to pay your debts.
The length of your repayment plan depends on your income, but it will generally be between three and five years. Once the court has approved your plan, you start making payments. If you follow your payment plan as agreed, debt that remains after your repayment term will typically be discharged.
FAQs
Our staff are always available to answer any questions about filing for bankruptcy and will shed light on any unclear process. Here we have answered some frequently asked questions:
What happens if my case is dismissed?
If you make a mistake that gets your case dismissed by the bankruptcy court, you will start from the beginning. This means refiling all your documents and paying additional filing fees.
Will filing for bankruptcy wipe out my student loan?
In most cases, filing for bankruptcy will not wipe out your student loan debt as it falls within secured and non-dischargeable debts. However, there are exceptions if you can prove undue hardship.
What should I do if my creditors keep calling?
If creditors keep harassing you after you file for bankruptcy, you can inform them of the automatic stay and that they are no longer allowed to contact you. You can also direct them to call your attorney’s office.
How long does it take for the bankruptcy process to conclude in Cincinnati, Ohio?
Chapter 7 bankruptcy can conclude within months (usually four months), while Chapter 13 is a repayment plan that takes three to five years.
Our team understands that if you’re considering declaring bankruptcy, this is a stressful and uncertain time. Don’t hesitate to get in touch to ask a question or schedule your free consultation.
Looking for a Bankruptcy Lawyer in Cincinnati?
Fesenmyer Law Offices, LLC Is Ready to Work for You
Although filing for bankruptcy can be difficult, our staff does everything we can to expedite the process and make it as easy as possible. We aim to get you on the path to a brighter financial future and are dedicated to doing so.
You can make a fresh start and see better days ahead. The sooner you start the bankruptcy process, the sooner you can be on your way to financial freedom. Contact Fesenmyer Law Offices, LLC today at 614-228-4435 (Columbus), 937-222-7472 (Dayton), or 877-654-5297 (Cincinnati) to get started.
