Columbus Ohio Bankruptcy Lawyer

Chapter 7 Bankruptcy

In most chapter 7 cases, if the debtor is an individual or married, he or she receives a discharge that releases him or her from personal liability for certain dischargeable debts. The debtor normally receives a discharge just a few months after the petition is filed. This is ideal for stopping wage garnishments, getting rid of judgments, letting go of a house you cannot afford, getting rid of credit card debt, or a bad car loan, medical bills, unpaid taxes that are more than three years old, past due utility bills, and more. Filing doesn’t mean that you cannot keep your car, and that you lose everything. There are protections under the law that we can use to help protect some of your most valuable assets even if you file for Chapter 7 bankruptcy. To understand whether or not you qualify for a Chapter 7, or whether it is right for you, call our office today and schedule your free consultation with a Columbus bankruptcy attorney (614)-444-5441.

Chapter 13 Bankruptcy

Chapter 13, entitles one to an adjustment of debts for an individual with regular income, and is designed for an individual or married debtor who has a regular source of income. Chapter 13 is often preferable to chapter 7 because it enables the debtor to keep a valuable asset, such as a house, and because it allows the debtor to propose a “plan” to repay creditors over time– usually three to five years. Chapter 13 may also offer the opportunity to reduce the repayment on a car loan, providing significant savings, depending on how long the loan has been in existence, the balance on the loan, and the market value of the car.

Filing for Chapter 13 automatically stops any foreclosure action in progress, and if the Court can confirm a feasible plan, allows you an opportunity to save your house. To understand whether or not you qualify for a Chapter 13, call our office today and schedule your free consultation at (614)-444-5441.

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If you need further information on bankruptcy law, check out the complete bankruptcy services we provide by visiting www.columbus-bankruptcylawyer.net now.