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Failed Business Debt and Bankruptcy

• Bankruptcy

When Are Business Owners Personally Liable for Business Debt? If you own a business or are considering starting one, you might be wondering, when are business owners personally liable for business debt? Any business owner should understand if and when their personal assets and finances are at risk due to business debt. Knowing what happens to business debt when a business fails is essential for any new or potential business owners. Personal liability for business debt often depend... CONTINUE READING

What Happens to Tax Refunds in Bankruptcy?

• Bankruptcy

Be Smart about Using Your Income Tax Return to File for Bankruptcy If you are thinking about filing bankruptcy in Ohio, you should consider what to do about any tax refunds you expect to receive or already have received. Depending on how you handle it, some or all of your refund may be protected. If you wind up filing for bankruptcy, you are permitted to use your tax refunds to pay for your bankruptcy attorney fees and court costs. Wha... CONTINUE READING

Debt Collections after COVID in Ohio

• Debt Collection

We may be past the worst days of the COVID-19 pandemic, but the financial hardships that it has caused for so many Ohioans continue. Debt collections after COVID-19 in Ohio are in full force for some. While some COVID-19 debt collection restrictions are still in place, others have subsided. If you are in debt and are facing creditors, know that you still have rights, options, and protections. When dealing with debt collections, be sure to understand your options. Recovering from the financial... CONTINUE READING

How to Stop a Debt Collection Lawsuit

• Debt Collection

Imagine walking to the mailbox to collect your mail, and there’s a fat envelope with debt lawsuit papers inside. You're shocked, scared, and overwhelmed — now what? If you’ve been sued for a debt, you probably have many questions, and at Fesenmyer Cousino Weinzimmer, we have answers about how to stop a debt collection lawsuit. We represent people just like you who are facing constant notices and even sued by creditors or threatened with... CONTINUE READING

What Happens When Covid Mortgage Forbearance Ends?

• Foreclosures

If you received financial relief through the federal government’s Covid mortgage forbearance program and it hasn’t already ended for you, it will soon. The CARES Act provided a mortgage payment forbearance option for all borrowers who, either directly or indirectly, suffer a financial hardship due to the coronavirus (COVID-19) national emergency. A forbearance is a temporary postponement or reduction of mortgage payments. It is not payment forgiveness. You must decide what happens next. Tha... CONTINUE READING

Does Bankruptcy Show Up in Background Checks?

• Bankruptcy

Bankruptcy Will Show Up on a Background Check, but May Not Hurt You If you’ve filed for bankruptcy protection in the past, there’s a good chance your bankruptcy filing will show up on a background check report. However, this may not be as harmful as you might think. What will be done with that information depends on the situation, person, or business seeking the information. In fact, sometimes having filed for bankruptcy can actually work in your favor. This is because a corre... CONTINUE READING

Wage Garnishment Removal

• Wage Garnishments

If you owe money and your creditor gets a judgment against you, that creditor can garnish your wages to receive either 25% of your disposable earnings or your disposable earnings less 30 times the current federal minimum wage. Under some circumstances, a creditor may be able to take more. Not only will this leave you short of income, but garnishment can affect your employment situation, since complying is a hassle for employers. Employers who receive a garnishment order must deal with paperw... CONTINUE READING

Why You Need a Debt Settlement Attorney in Ohio

• Bankruptcy

Our Debt Settlement Lawyers in Ohio Know the Best Options for Getting You Out of Debt Talk to a debt relief lawyer to avoid making costly mistakes. If your bills and debts are becoming overwhelming, you may be tempted by advertisements from debt-settlement companies claiming that they can talk your creditors into settling your unsecured debts for pennies on the dollar. This could be a big mistake. While debt settlement may work, and debt settlement companies seem... CONTINUE READING

What happens if a Chapter 13 bankruptcy case is dismissed?

• Bankruptcy

If a Chapter 13 bankruptcy case is dismissed, several things can happen. First, your automatic stay -- put in place when you first filed -- is no longer in force. That means creditors can once again take action to collect a debt, which can include harassing phone calls and letters, wage garnishment, foreclosures, repossessions, and debt collection lawsuits. You lose your protection from creditors. Next, you may also face new collection activity for any debts that fall into default now that w... CONTINUE READING

How long can a debt collector legally pursue old debt?

• Debt Collection

In uncertain times, a person can become overwhelmed by debt and default on their payments. This is especially true if you face unexpected circumstances like job loss, natural disaster, or a devastating medical diagnosis. So you may be asking yourself, “How long can a debt collector legally pursue old debt?” The statute of limitations on debt in Ohio is six years. After six years, a debt collector cannot take legal action against you to recover old debt. Debt that is p... CONTINUE READING