If you are filled with anxiety and stress watching credit card and medical debt rise, and if you’re awake at night wondering how you will pay these bills, it may be time to think about a different approach. Many hardworking people, through little fault of their own, have faced significant financial setbacks because of a medical crisis, job loss or other unexpected event. There comes a time when you can no longer shoulder rising debt and continuing to struggle is counter-productive. If you feel you may be reaching this point, then it’s time to talk to a bankruptcy attorney in Lancaster.
The law firm of Fesenmyer Cousino Weinzimmer has helped many clients just like you. Call an affordable bankruptcy attorney in Lancaster at 614-228-4435 (Columbus), 937-222-7472 (Dayton), or 877-654-5297 (Cincinnati). We offer a free initial consultation and can help you get back on the road to success.
How do I Choose a Bankruptcy Attorney in Lancaster?
We know there are a lot of Ohio bankruptcy lawyers out there to choose from, and we are confident that our attorneys at Fesenmyer Cousino Weinzimmer are among the most skilled and affordable.
Bankruptcy laws can be complex. If you’re looking for legal solutions to difficult financial problems, then you want a skilled and experienced Ohio bankruptcy attorney at your side. Our Lancaster attorneys specialize in bankruptcy and have decades of legal experience and financial knowledge. We know the intricate details of federal and state laws, and we will work with each client to choose the best path possible for every individual circumstance. At our firm you can meet directly with the attorney who will be handling your case.
What’s the Cost For a Bankruptcy Lawyer in Lancaster, Ohio?
ATTORNEY FEES CAN VARY SIGNIFICANTLY, SO DO YOUR HOMEWORK.
One of the things that Fesenmyer Cousino Weinzimmer prides ourselves on is our firm’s affordability. We know that money is tight and you are feeling a lot of financial stress, so we do everything we can to make our legal services affordable. Our highly skilled and experienced bankruptcy lawyers in Lancaster, Ohio provide a swift and streamlined approach to bankruptcy so that you are not racking up legal fees over weeks and months. To learn more about our affordable rates, call Fesenmyer Cousino Weinzimmer at 614-228-4435 (Columbus), 937-222-7472 (Dayton), or 877-654-5297 (Cincinnati).
Two Types of Personal Bankruptcy
WHAT IS CHAPTER 7 BANKRUPTCY?
Chapter 7 is the most common form of bankruptcy, and it will eliminate most or all debts, but you can use it only once every eight years. It’s quick — over in a few months, so you can begin rebuilding credit. There are exemptions (Exemption Laws of Ohio) that can protect your property, but it is advisable to consult with an attorney to confirm that your particular property is protected. Exemptions can include clothing, cars, equipment used for work (like tools) and household furnishings.
WHAT IS CHAPTER 13 BANKRUPTCY?
Chapter 13 bankruptcy is a repayment plan which allows you to save your assets.
Under Chapter 13 bankruptcy, you can consolidate payments to repay some or all of your debt affordably over a three- to five-year period. This plan is best for those who don’t qualify for Chapter 7, who want to keep an asset that they are behind on or who have equity in an asset that they want to protect. Once you file for Chapter 13, harassing calls and letters from creditors stop; and once you successfully complete the payment plan, qualifying debts covered by the plan are discharged.
What is the Difference Between “Secured” and “Unsecured” Debt?
“Secured” debt is backed by collateral. For example, if you have a mortgage or a car loan, then your house or vehicle stand as “collateral” behind those loans. This means that an item of value – house or auto – can be repossessed if the loans are not paid. In these cases, you likely signed a contract with a financial institution stating that a creditor can attach a lien to the property and seize it if you fail to make payments.
“Unsecured” debt is an obligation that is not backed by collateral. For example, if you did not agree that a merchant, bank or creditor could repossess an item purchased when you entered into the credit agreement, then that debt is unsecured. Generally, most unsecured debt can be discharged in Chapter 7 bankruptcy.
Debts That Typically Can Be Discharged in Bankruptcy
THESE UNSECURED DEBTS ARE DISCHARGEABLE IN CHAPTER 7 BANKRUPTCY
Having a debt discharged means it is wiped out and does not have to be paid now or in the future. This gives you a clean slate to start your financial life over. Following is a list of debts that typically can be discharged in Chapter 7 bankruptcy:
Whether VISA, Master Card, American Express or other credit cards (including department store and gas station cards), these are all typically dischargeable under Chapter 7 bankruptcy. However, there are guidelines that apply, so you’ll want to consult with a bankruptcy attorney in Lancaster. You are not allowed to intentionally run up charges on credit cards in the few months prior to filing for bankruptcy in hopes of getting this debt dismissed.
Hospital, doctor, laboratory, pharmaceutical, rehabilitation and other medical bills are generally dischargeable under Chapter 7 bankruptcy. Debt from home health care and medical supplies usually can also be discharged.
Electric, gas, water, trash, phone and other utility bills are usually dischargeable in Chapter 7 bankruptcy. Other household maintenance bills for things like snow removal and lawn service can also be discharged.
If you have been evicted and have a lease deficiency or owe a previous landlord back rent, these liabilities are dischargeable in a Chapter 7 bankruptcy.
If you received a personal loan from a bank, friend or family member, these can typically be discharged in a Chapter 7 bankruptcy.
If you have questions about whether your specific debts can be discharged, call Fesenmyer Cousino Weinzimmer today at 614-228-4435 (Columbus), 937-222-7472 (Dayton), or 877-654-5297 (Cincinnati). We would be glad to provide you with answers.
Debts That Usually Cannot Be Discharged in Bankruptcy
THESE DEBTS TYPICALLY ARE NOT DISCHARGEABLE IN BANKRUPTCY
A bankruptcy court will not discharge child support payments that were imposed by another court.
This tends to be a very big issue for millennials who are struggling under heavy college debt. While student loans are rarely dischargeable under bankruptcy, relieving yourself of other consumer debt can make it easier to meet monthly student loan payments.
Most tax debts are not dischargeable in bankruptcy. An experienced bankruptcy attorney can review your case and go over the exact details with you.
DEBTS INCURRED THROUGH FRAUD OR THEFT
Any debt that you incurred as a result of fraud or theft is not dischargeable in bankruptcy. If a court does determine that fraud was involved, you could face fines and prison time in addition to having to pay back the debt.
LUXURY PURCHASES OR CASH ADVANCES OBTAINED SHORTLY BEFORE FILING BANKRUPTCY
The court will review all of the assets you own to determine if they are protected in your bankruptcy. If you own expensive properties or luxury vehicles that are above the allowable exemption amounts, they may not be protected in a Chapter 7 bankruptcy. The court will also review any major charges you incurred right before you file bankruptcy.
Contact An Affordable Lancaster Bankruptcy Attorney
If you’re tired of sleepless nights and huge worry about seemingly endless financial problems, then it could be time to consider bankruptcy. Think of it as a fresh start and the chance for a brighter future. Many well-intentioned, responsible people have found themselves in the same position you are in. By taking the orderly, step-by-step process of filing for bankruptcy, they were able to put their lives back on track. To speak to a skilled and experienced affordable Lancaster bankruptcy attorney today, call Fesenmyer Cousino Weinzimmer at 614-228-4435 (Columbus), 937-222-7472 (Dayton), or 877-654-5297 (Cincinnati). We offer a free initial consultation.