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What Happens to Tax Refunds in 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

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

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 First, your automatic stay -- put in place when you first filed -- is no longer in force.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

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

Can I Declare Bankruptcy on Student Loans?

You May be Able to Discharge Student Loans in Bankruptcy Student loan debt is an ever-increasing problem in the United States and has become the second highest consumer debt category, right behind mortgages. Many students take out loans with the hope of finding a better job, and wind up struggling to pay them back. With costs rising faster than salaries, jobs most students get when out of college don’t pay enough to cover their expenses and... 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

How Does Bankruptcy Affect Your Credit Score?

THESE DAYS EVERYONE KNOWS THEIR CREDIT SCORE, JUST LIKE THEY KNOW THEIR PHONE NUMBER.  CAN THIS IMPORTANT NUMBER BE DAMAGED BY FILING FOR BANKRUPTCY? While filing for bankruptcy can initially lower your credit score, wiping out your debt will help raise your credit score over the long term.  Often, a person can rebuild their credit score after bankruptcy by following a few straightforward steps. Are you struggling with debt that seems to keep mo... CONTINUE READING

The Basics of Working with an Ohio Consumer Debt Lawyer

Overwhelming debt can cause problems in all areas of your life, from being less productive at work to having money arguments at home that can lead to family breakdown. Adding to the stress is the accompanying harassment by creditors and the fear of repossession of your property and foreclosure on your home. If you are struggling to meet your consumer debts, you are not alone. Overall household debt stood at more than $13 trillion at the end of 2017, according to the ... 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. According to an analysis by Jonathan Fisher, a ... CONTINUE READING

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    What Happens to Tax Refunds in 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 hand...