Why hire Badnell & Dick Co., LPA to be my Columbus, Ohio Bankruptcy Attorney?
Filing for bankruptcy is something few individuals want to do, but when it is obvious that bankruptcy can be a solution to your financial problems it is time to make a decision. When that decision time is at hand for Ohio residents, it is time to consider retaining Badnell & Dick Co., LPA to handle your bankruptcy in the Columbus, Ohio region. Bankruptcies can be confusing, and it is nothing a novice individual would want to attempt without proper legal counsel.
There are many important rules that apply to the proper filing of a bankruptcy case, and it is often difficult to add any new information to the claim once the proceeding has been initiated. It is very important to be thorough when evaluating your personal debt and make sure your attorney gets as much pertinent information as possible. There are generally two chapters of bankruptcy that a single person or a married couple can file, with those being Chapter 13 and Chapter 7. Having an experienced bankruptcy attorney like Badnell & Dick Co., LPA will mean that every monetary item involved with the bankruptcy is properly accounted and presented on the filing.
Determining which chapter of bankruptcy to file is also controlled by state law and rules of the court. Chapter 13 is generally designed to help individuals who have considerable assets that they would like to protect in the process of restructuring their debt. Some debt can be discharged, but the true purpose of a Chapter 13 filing is primarily a bankruptcy repayment plan that saves assets and does minimal damage to credit. This is the goal that Badnell & Dick strive for when handling a Chapter 13 bankruptcy. Successful completion of the repayment plan is the ultimate goal for everyone involved, and having an experienced bankruptcy representative can ensure a feasible plan that includes all protected assets.
Many people do not qualify for Chapter 13 bankruptcy protection. This is primarily based on income and assets, as a means test is employed when determining the qualifications for Chapter 7 bankruptcy. Chapter 7 bankruptcy most often addresses discharging consumer debt. The scope of the bankruptcy ruling will include what personal property can be seized and sold to repay creditors, along with how much disposable income the filer has based on pay rate and the cost of living allowed by the state. Badnell & Dick Co., LPA understands to craft a Chapter 7 agreement in Ohio that maximizes what the filer may keep while developing a workable repayment amount for interception within garnishment guidelines.