$999 “ALL FEES INCLUDED” Chapter 7 Bankruptcy Attorneys Dayton, Lima and Mansfield, Ohio

What is Chapter 7 Bankruptcy and How it Works in Ohio?

Chapter 7 bankruptcy is a way for individuals to start over financially. Filing for a Chapter 7 bankruptcy can be confusing and time consuming without the professional help of an attorney. If an individual has few or no assets, he or she might be better off filing a Chapter 7 bankruptcy and having their debts released. Unsecured debts such as medical bills, credit cards, judgments from a car accident, some personal loans and past payments owned on repossessed vehicles can all be released with the proper filing of the Chapter 7 paperwork. With the help of a knowledgeable and experienced attorney on the laws of filing a Chapter 7 bankruptcy an individual can get through the legal process within three to six months.

When filing a Chapter 7 bankruptcy a person can usually keep some property and get released from most if not all the debt owed. As long as he or she is current with the payments on the home and or vehicles and there is no equity in the property, then they can usually reinstate the debt for these items and keep possession of them. This is the whole function of the Chapter 7 bankruptcy. He or she can keep cars, homes and personal belongings, but eliminate all debt that is owed. If a Chapter 7 bankruptcy is not filed, a family could lose their home to a foreclosure and vehicles to repossessions due to late or missed payments.

He or she will be protected from harassment from credit and collection agencies as soon as they file for the Chapter 7 bankruptcy. Once the bankruptcy proceedings have been started, all creditors are sent notices from the courts and they are forbidden to bother you. Creditors can not phone you or send any more letters pertaining to the past due amounts on any of your debts. Creditors must either call your attorney for information or follow the courts instructions and file a claim for repayment.

The bankruptcy will be reported to all credit agencies and will stay on a person’s record for up to 10 years. Reestablishing your credit after a Chapter 7 bankruptcy is not as hard as most people believe. A person that has filed a Chapter 7 bankruptcy and the debts have been released, is now debt free. He or she can start establishing new lines of credit right away. Their credit limits might be lower and the interest rates higher, but if well managed anyone can reestablish their credit in a couple of years.

Federal law requires the following statement: We are a debt relief agency. We help people file for protection under the bankruptcy code.