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Bankruptcy Blog

The Consequences of Medical Debt on Your Credit Score

Even for those who have always been financially stable, being hit with a major medical problem can have bills mounting up quickly, to the point where they can no longer be met. People then often take on additional credit card debt to cover mounting medical bills. Savings are depleted, and people wind up being unable to pay for necessities such as rent, food, and utilities. As a result, medical bills have become the most common cause of filing for bankruptcy in Ohio. If you find your... CONTINUE READING

What Is the Role of Bankruptcy Judges?

If you’re facing bankruptcy, you’re probably encountering a host of terms and concepts that you’ve never come across before. Bankruptcy is a complicated legal process, and it can be hard to fully understand how it works when you don’t have much prior knowledge about the topic. One common question new clients often ask bankruptcy lawyers is what a bankruptcy judge is and what role they play in the process of filing bankruptcy. If you are preparing to file bankruptcy, it’s a... CONTINUE READING

Dealing With Creditors in Chapter 13 Bankruptcy: The Automatic Stay and Beyond

Dealing with outstanding debt that you can’t pay off is an extremely stressful situation. Financial stress comes in many forms, often leading to spousal disagreements and sleepless nights spent worrying about finances. However, one of the most pervasive sources of debt-related stress is the constant harassment by creditors. Creditors may call, send mail, or even show up at your home in an effort to get you to pay off bills you simply don’t have the money for. One practical solution is fil... CONTINUE READING

Can Bankruptcy Stop Vehicle Repossessions and Lawsuits for Vehicle Debt?

If your creditors file a lawsuit and get a judgment against you, they are allowed to repossess your vehicle and other property, foreclose on your home, and garnish your wages. Not only can you lose the house you live in or the car you have relied on to get to work, but you also lose the value you already made in payments. Fortunately, it can take several months for creditors to get a judgment, so you have time... CONTINUE READING

How Much Do You Have to Be in Debt to File Chapter 7 Bankruptcy?

When times are tough and you are hit with problems such as unexpected layoffs or major illness, bills rapidly pile up to the point where you may be considering filing for the relief that bankruptcy can bring. You may wonder just how much debt you have to be in to file for Chapter 7. Ohio bankruptcy laws don’t require a certain minimum amount of debt in order to be eligible for bankruptcy. While your debt amount is a s... CONTINUE READING

The Consequences of Medical Debt on Your Credit Score

Even for those who have always been financially stable, being hit with a major medical problem can cause bills to mount up quickly, to the point where they can no longer be met. People then often take on additional credit card debt to cover mounting medical bills. Savings are depleted, and people wind up being unable to pay for necessities such as rent, food, and utilities. As a result, medical bills have become the most common cause of filing for bankruptcy in Ohio. If you find you... CONTINUE READING

A Look at the Average Bankruptcy Filer

Contrary to commonly held beliefs about who files for bankruptcy, the average bankruptcy filer is not a free-spending celebrity or a crook trying to cheat the system, but an ordinary middle-class American. Many of these individuals are hard-working people who are struck by unexpected problems that hurt them financially. People are laid off, hit by major illnesses and expenses, or have had a death or divorce in their family that changes their financial pict... CONTINUE READING

Do You Know Your Rights as a Debtor?

Anyone harassed by collectors should know their rights and what they can do to stop harassment. Being unable to keep up with your bills can be a huge source of stress. This stress shouldn’t be made worse by creditors who constantly harass you. There are plenty of steps you can take to ensure that debt collectors protect your rights. You also have options for taking action when your rights are violated. Fesenmyer Cousino Weinzimmer is an Ohio bankruptcy law f... CONTINUE READING

Can One Spouse File Bankruptcy Without Affecting the Other?

Can one spouse file for bankruptcy? Married people filing for bankruptcy in Ohio have the option of filing with or without their spouse. There are advantages and disadvantages to both options, so deciding whether you should file for bankruptcy alone or together depends on your situation and needs. If you do file individually, it must be done in good faith. The bankruptcy court will examine your circum... CONTINUE READING

How Does Bankruptcy Affect Cosigners?

Having a cosigner on a loan is a common occurrence for borrowers making a big purchase. But how does bankruptcy affect cosigners? Cosigners could be at risk for paying back a loan if the borrower declares bankruptcy. There are, however, many factors at stake. If you’re cosigning a loan, understand how bankruptcy can affect cosigners. What Is a Cosigner? Before understanding how bankruptcy affects cosigners, it’s necessary to understand what... CONTINUE READING

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