Filing for bankruptcy in Ohio on your own can be stressful and confusing, but engaging a bankruptcy attorney makes the process significantly simpler. When you employ a professional to help you file for bankruptcy, you can easily ensure that all of your paperwork is filled out correctly and on time, and that all of your eligible debts are included in the judgment. Numerous individuals who file their own bankruptcy paperwork overlook one or more debts, meaning that creditors for those debts may still attempt to collect. Once you apply for bankruptcy, you may be barred from filing again for an extended period of time, leaving you with little recourse for missed debts.
Whether filing for Chapter 7 or Chapter 13 bankruptcy, Ohio Revised Code Section 2329.66 provides numerous exemptions to assist Ohioans in retaining their property. You can claim exemptions for your home, vehicle, bank account, clothes, tools of the trade, livestock, retirement accounts, and much more, protecting hundreds of thousands of dollars in personal property and real estate.
Filing for bankruptcy in Ohio does not entail authorizing creditors to seize all of your assets to satisfy debts. In fact, if your income falls within a range anchored by the state median income for families of a similar size, you may not be required to repay the debts at all. If you are above this threshold, you may have to pay fees to file Chapter 13 bankruptcy, but the fees are typically much less than what you owe.
If you are contemplating filing for bankruptcy in Ohio, you should consult with a bankruptcy attorney. Finding someone who understands the ins and outs of the filing process and how much you can expect to pay will aid you throughout the procedure. Your attorney can assist you with filing documents and observe your meeting with creditors to ensure you are treated fairly.
Eliminating your debts and restoring your credit is essential if you wish to escape financial disaster. When you employ an experienced attorney to handle your bankruptcy, your credit can be restored in a matter of months, allowing you to make better financial decisions in the future.
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