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Will Student Debt Become Easier to Include in Bankruptcy?

High student loan payments have become a large part of the financial burden which leads to filing for bankruptcy. Most often, student loans cannot be discharged in bankruptcy, although a knowledgeable bankruptcy lawyer can often find ways for you to obtain relief or find resources such as deferments that enable you to get caught up on student loan payments. The skilled and seasoned Ohio bankruptcy attorneys at Fesenmyer Law Offices, LLC understand that financial problems can and do... CONTINUE READING

Chapter 13 vs. Chapter 7: Which Bankruptcy Is Right for You?

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,... CONTINUE READING

Do I Have to File Bankruptcy with My Spouse?

The quick answer is no — if you are married you may file bankruptcy individually and your spouse does not have to file.  However, this doesn’t mean that this is the best road for you to take.  If the court determines that filing individually was not done in good faith, it may dismiss the case; and if you don’t file properly, even the non-filing spouse may be stuck with debts he or she didn’t expect to have. Therefore, it’s important to select an attorney who is experienced in Ohio... CONTINUE READING

Ohio’s Median Income and Chapter 13 Bankruptcy: What You Need to Know

Most people struggle with finances from time to time. Sometimes, those struggles become too much to handle. When you can’t keep up with your payments and you find yourself constantly harassed by creditors, it might be time to consider filing for bankruptcy. Chapter 13 bankruptcy is a popular option. It allows you to retain ownership of many of your assets and consolidates your debt into one monthly payment that you pay over a three to five year period. Understandi... CONTINUE READING

Facing Car Repossession in Ohio? Here’s What You Can Do

Most car owners rely on their vehicles every day. They use them to commute to work, perform daily and weekly errands, and take long trips. Without their cars, they would lose a significant amount of independence. This can be frightening if you fall behind on your car payments. When this happens, you are at risk of losing your vehicle to repossession. The good news is that you may not have to give up your vehicle if you are facing financial difficulty. There are steps you can take to protect y... 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 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

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

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    Can You Stop Foreclosure in Ohio After Receiving the First Notice?

    Receiving anything from a mortgage lender that mentions the words “foreclosure” or “legal action” can be overwhelming. As soon as they read those words, many people have trouble understanding the rest of the notice. However, receiving a first notice from your mortgage lender does not mean...