Bankruptcy Blog

What Happens When Covid Mortgage Forbearance Ends?

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 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

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

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?

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 First, your automatic stay -- put in place when you first filed -- is no longer in force.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?

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 pas... CONTINUE READING

Debt Forgiveness for Seniors

There is an alarming trend that is growing in America, and it has been made worse by COVID-19 in 2020.  More and more older Americans and retirees are burdened with significant debt.  A recent study shows that individuals age 55 and older with debt grew from 54% in 1998 to 68% in 2019.  The research, conducted by the Employee Benefits Researc... CONTINUE READING

Does Bankruptcy Disqualify You for a Job?

Does bankruptcy disqualify you for a job? If you’re overwhelmed by debt and are considering the proactive step of filing for bankruptcy so you can get a fresh start, you may have several questions. One of these might be, “does bankruptcy disqualify you from a job?” In most situations, bankruptcy won’t affect your current employment. It is possible that in the future when you look for a new job, a potential employer could become aware of your bankruptcy on your credit record.... CONTINUE READING

Coronavirus Shutdown Is Affecting Debt Reporting and Foreclosures

In the midst of all the chaos and uncertainty surrounding the coronavirus pandemic, some consumers are looking for ways to tighten their belts and prioritize finances.  For other consumers who were already behind on their bills, the virus could spell financial disaster.  This is especially true of workers who abruptly lost their jobs due to mandatory business shutdowns.  Experts say, at a time like this, it’s important to prioritize food, shelter, medical needs and utilities.&nb... CONTINUE READING

What Is the Statute of Limitations on Debt in Ohio?

If you’ve fallen behind financially and are having trouble paying your bills, you may be wondering about your options. The statute of limitations for collection of debt in Ohio is six years. This time frame applies to the majority of situations and to most types of debt. Understand, however, that debt does not expire or disappear until you pay it. If a debt is valid, you still owe it until you pay it off, no matter how much time passes. The Ohio statute of limitations on debt simply limits the... CONTINUE READING

Categories

FREENO OBLIGATION

Request Consultation

COMPLETE THE FOLLOWING CONTACT FORM TO REQUEST A FREE CONSULT.

    Table of Contents