Consult an Attorney for 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 paperwork and forms and then withhold money from your paycheck… CONTINUE READING

Failed Business Debt and Bankruptcy

If your business is struggling with debt, bankruptcy can provide options to help you either stay afloat or to close your business in an efficient manner. Business, or “non-consumer,” bankruptcy is for help with debt that is mostly from profit-seeking business endeavors.  In contrast, personal or “consumer” bankruptcy is for debt from purchases made for items such as food, clothing, vehicles, and shelter. There are several options for business bankruptcy and debt relief.  You need to choose the correct one for your business or you might be facing additional litigation… CONTINUE READING

What Are the Biggest Sources of Debt in Ohio?

If you are an Ohio resident struggling to deal with debt, you might be wondering how your neighbors are faring so well.  According to a survey by GOBankingRates.com, the top source of debt for people in Ohio is mortgage debt, and residents of 41 other states also reported that mortgages are the biggest source of debt. People who reported stated that their average mortgage debt was $59,500.  This is despite the fact that Ohio has some of the lowest median mortgage payments in the country. If you get behind on… CONTINUE READING

Financial Crimes Against the Elderly

The elderly population in America is growing, and with the increase comes more instances of seniors being exploited and abused. In addition to physical and emotional abuse, financial crimes against seniors are increasing with alarming frequency.  In 1998, the National Center on Elder Abuse estimated that nearly one-third of all elder abuse cases involved financial exploitation. In 2000, the U.S. Senate Special Committee on Aging reported $40 billion in losses to telemarketing fraud alone. The skilled and seasoned Ohio debt-relief attorneys at Fesenmyer Cousino Weinzimmer understand that even the most alert… CONTINUE READING

How Does it Affect You When the Federal Reserve Raises Interest Rates?

The Federal Reserve Board (FRB) keeps talking about raising interest rates, and if it does, it sets off a chain reaction of events affecting everything from how many people have a job to what they pay for groceries. If you have a credit card or savings account, are invested in stocks or bonds, invest in a 401(k), or you’re thinking about buying a home or car, changes in interest rates can cost or save you money.  It’s important to understand why and act accordingly. What the Federal Reserve Does Congress… CONTINUE READING

What Types of Debt are Most Harmful for Your Credit?

Debt has become almost a way of life for most Americans, as they use credit cards and take out loans to make purchases they otherwise couldn’t afford.  Personal debt is increasing, and credit has never been easier to get. Used intelligently, credit allows us to build wealth through making investments, buying a home or business, or paying for college.  However, if used incorrectly, debt often leads to financial problems and credit that is ruined. The skilled and seasoned Ohio bankruptcy attorneys at Fesenmyer Cousino Weinzimmer understand that even the most well-intentioned… CONTINUE READING

Means Test For Bankruptcy If You’re Self-Employed

If you’re self-employed and considering filing for bankruptcy in Ohio, you can file either a Chapter 7 or a Chapter 13 bankruptcy, just like anyone else.  However, before you can file you need to complete a “means test” to determine and prove your average income for the prior six months. This requirement can be tricky for the self-employed. The skilled and seasoned Ohio bankruptcy attorneys at Fesenmyer Cousino Weinzimmer offer a free consultation to evaluate your financial situation.  We can help by looking at your income, your debts and your goals,… CONTINUE READING

Budget Planning For The Holidays, Dos And Dont’s

The holidays bring wonderful times with friends and family, but it’s all too easy to wind up in debt for the New Year. Well-meaning people often equate the spirit of the season with how much money they spend, but that mindset can lead to financial trouble. An annual national survey on holiday spending by the American Research Group found that the average planned spending for 2015 was $882, and that can be a hefty amount for many people. The experienced Ohio debt-relief lawyers at Fesenmyer Cousino Weinzimmer have some tips… CONTINUE READING

Medical Bankruptcy

Medical bills are the most common cause of people filing for bankruptcy in Ohio. Even if you’ve always been financially stable, if you’re hit with a major medical problem, bills mount up quickly to the point where you can no longer meet them. According to findings from NerdWallet Health, in 2013, bankruptcies resulting from unpaid medical bills affected nearly 2 million people, even many who had health insurance. People often take on additional credit-card debt to cover mounting medical bills, and since credit cards often charge high interest rates for… CONTINUE READING

Things Debtors Can Do

When you find yourself swamped with bills you can’t pay, even if it’s not your fault, you are probably feeling embarrassed, depressed and hopeless -- but you’re not helpless.  Even if you’re being harassed by a debt collector or faced with legal action, there are things you can do to help get back on track. 1. KNOW THE FACTS ABOUT YOUR CREDIT. You’re entitled to see the three credit reports from Equifax, Trans Union and Experian for free once a year.  This will give you a picture of how your… CONTINUE READING

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…

If you’ve fallen behind financially and are having trouble paying your bills, you may be wondering what is the statute of limitations for collecting a debt in Ohio?  Unfortunately, it is six years for most…

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…

1-877-654-LAWS