Can I Declare Bankruptcy on Student Loans?

Student loan debt is an ever-increasing problem in the United States and has become the second highest consumer debt category, right behind mortgages. Money owed on student loans has reached $1.5 trillion, and the average student in the Class of 2016 has $37,172 in student loan debt. Ohio is among the worst states for student loan debt, rating No. 5 on financial planning website WalletHub’s list of worst states for college debt. Since many people cannot find a job after graduation with pay high enough to meet expenses and cover… CONTINUE READING

Can I File Bankruptcy on Credit Cards and Keep My House?

Credit cards are one of the easiest, but most expensive, ways to borrow. People who don’t pay them off in a timely fashion or only pay the minimum balance often wind up in situations with interest rates that can reach almost 20 percent leading to debt that snowballs quickly, accumulates, and never gets paid off. According to the American Bankers Association, 43 percent of card holders carry a balance each month, and the Federal Reserve reports that outstanding card debt hit a record $1.023 trillion in November 2017.  Rising credit card… CONTINUE READING

Why Do Some People Choose Chapter 13 over Chapter 7?

Chapter 7 is the most common form of bankruptcy and has certain advantages, but that doesn’t mean it is the best solution for you.  Depending on your situation, Chapter 13 bankruptcy, which allows you to consolidate your payments and repay some or all of your debt affordably over a three- to five-year period, may be more advantageous. How do you know which form of bankruptcy is right for you?  If you are facing a situation where your debt is getting to be more than you can handle, there is help… CONTINUE READING

Should You Get Rid of Credit Cards After Bankruptcy?

If you’ve declared bankruptcy, you may feel that you never want to see a credit card again, especially if using cards irresponsibly is what got you into financial trouble in the first place.  However, getting a credit card after bankruptcy or retaining a current card can be a smart move under certain conditions. Bankruptcy damages your credit score, and it is important to rebuild it gradually.  If you charge only what is necessary and get into the habit of always making on-time credit card payments, it is one of the… CONTINUE READING

Can I File Bankruptcy Without My Spouse?

It is always possible for one spouse to file for bankruptcy without the other, but it is not always wise to do so.  Deciding which way to go depends on several factors which need to be carefully considered before you file. Bankruptcy, a legal way to have many debts forgiven, can put you on the road to financial recovery, keep creditors from harassing you and seizing your possessions, allow debts to be forgiven, and provide a way for you to keep your assets and begin to rebuild your life.  However,… CONTINUE READING

Can You Go to Jail for Credit Card Debt?

Debt collectors cannot arrest you for credit card or other consumer debt, but they can take you to court and sue you for payment. And, under certain circumstances, debt can lead you to jail for fraud, theft, or defying a court order. Whatever the source of your consumer debt, if you find yourself overwhelmed with debt, your best bet is getting legal advice. The skilled and seasoned Ohio bankruptcy attorneys at Fesenmyer Cousino Weinzimmer understand that money problems can happen to even the most well-intentioned people.  We offer a free consultation to… CONTINUE READING

Can Creditors Garnish Wages?

If you can’t pay money you owe, creditors may take steps to garnish your wages and withdraw money directly from your paycheck. In most situations, both federal and Ohio state law limit garnishment to 25% of your wages, and most creditors must file a collections lawsuit in court and receive a money judgment first. But once the courts give them this judgment, creditors can keep collecting money from every paycheck until the debt is paid. Having your wages garnished is embarrassing, leaves you even shorter of money, and has other… CONTINUE READING

Can One Spouse File Bankruptcy Without Affecting the Other?   

Married people filing for bankruptcy in Ohio have the option of filing with or without their spouse.  There are advantages and disadvantages of both options, so deciding whether you should file for bankruptcy alone or together depends on your individual situation and needs. If you do file individually, it must be done in good faith.  The bankruptcy court will examine your circumstances, and if it determines that filing on your own was not done in good faith, it may dismiss the case without discharging your debts. If you don’t file… CONTINUE READING

How Long Does It Take for Credit to Recover Post-Bankruptcy?

Contrary to what many people think, filing for bankruptcy may be good for you and improve your financial situation.  Chances are that if you are considering bankruptcy, your credit is already suffering, and you are probably sick of being harassed by bill collectors and creditors, and faced with possible wage garnishments, evictions, lawsuits, and foreclosures. Not only does all that activity stop with bankruptcy, but bankruptcy can help your credit. Many of your debts will be eliminated, and although there will be an initial setback in your credit rating, after bankruptcy… CONTINUE READING

Multiple Credit Cards? How to Decide Which Ones to Tackle First

Having multiple credit cards has become an American way of life, and it’s not necessarily bad – if you can pay off the balance each month. Unfortunately, too many of us use credit cards to keep pace with increased living costs, and since credit cards are one of the most expensive ways to borrow, we wind up unable to pay off our debts. According to the American Bankers Association, 43 percent of card holders carry a balance each month, and the Federal Reserve reports that outstanding card debt hit a record… CONTINUE READING

Student loan debt is an ever-increasing problem in the United States and has become the second highest consumer debt category, right behind mortgages. Money owed on student loans has reached $1.5 trillion, and the average…

Credit cards are one of the easiest, but most expensive, ways to borrow. People who don’t pay them off in a timely fashion or only pay the minimum balance often wind up in situations with…

Chapter 7 is the most common form of bankruptcy and has certain advantages, but that doesn’t mean it is the best solution for you.  Depending on your situation, Chapter 13 bankruptcy, which allows you to…

1-877-654-LAWS
  • Facebook
  • Linkedin
  • You tube
Attorney Web Marketing