As a bankruptcy attorney, I help clients from all walks of life with financial problems to understand their options and evaluate whether bankruptcy is a choice that would work for them. You may be buried under credit card debt, or maybe you were involved in a business that went bad. Whatever the reason, you now find yourself in a situation where there is seemingly no escape. Bankruptcy may be the only way for you to get back on your feet and regain control over your life.
I can help you examine your current situation and determine, first, if bankruptcy is a good choice for you, and second, what type of bankruptcy will work best. The two most common options are Chapter 7 and Chapter 13 bankruptcy:
Chapter 7 Bankruptcy
Chapter 7 is the most well-known form of bankruptcy. In Chapter 7, you will get a discharge of all your debts except student loans, child/spousal support, and most taxes. Once the debts have been discharged, you will no longer be liable for them. In a Chapter 7 bankruptcy, you can get rid of credit card debt, medical debt, and debts from vehicle repossessions and foreclosures. In a Chapter 7, the trustee liquidates assets that are not protected by the law, but most people who qualify for a Chapter 7 find that all of their assets are protected I can help you determine what assets you will be able to keep, as well as giving you an idea of the process for your specific situation.
Chapter 13 Bankruptcy
Chapter 13 also protects you from your creditors, but it allows you to repay your debts over time while keeping your assets. A Chapter 13 can be a great way to manage debts for people who make too much money to qualify for a Chapter 7 bankruptcy or who have filed a Chapter 7 and received a discharge less than 8 years ago. Chapter 13 takes longer and requires you to pay off debts, but it will often put you in a better long-term financial situation.
Contact The Law Office of Andrea Henning
I work with clients throughout Toledo and the suburbs of Ottawa Hills, Sylvania, Maumee, Perrysburg and Oregon, as well as Bowling Green, Findlay, and Lima, Ohio. Please contact my office to schedule a consultation and discuss your bankruptcy options.