The holidays are right around the corner, which means many people will be frequenting more shops and restaurants as they prepare for their various festivities. If you’re out buying gifts, stocking up on cookie-baking supplies, or meeting friends for celebratory nights out, you’re probably also seeing an increase in your credit card bills. For those who are already dealing with huge debts, the holidays can be especially stressful. In fact, Read More
Whether you’re deep in debt or struggling to stay up with bills, there’s a solution to your financial situation. The Cleveland Bankruptcy attorneys have the knowledge and experience to fight for your best interest. Contact a Cleveland Bankruptcy attorney today to discuss your options at (216) 586-6600.
Pros and Cons of Declaring Chapter 11 Bankruptcy
Chapter 11 bankruptcy is a bankruptcy option that is typically available to large corporations. This type of plan often referred to as a debt reorganization, is favorable for businesses because it allows them to keep running and making a profit while paying off their debts. There are many positive aspects of the plan, and a few negative elements to consider when weighing the different bankruptcy options. Below is a brief Read More
How Does Bankruptcy Affect Retirement Accounts?
When you go through a bankruptcy, you will likely relinquish some of your assets. In a Chapter 7 case, your assets are liquidated in order to pay your secured debts. Chapter 13 may not force you to sell your assets, but you will need to come up with an acceptable payment plan that you can stick to, or your creditors may be able to come back for your property. But Read More
Difference Between Secured and Unsecured Loan
Deciding to file for bankruptcy can be difficult, but it is not the only consideration you will have to make. You will also need to think about which type of bankruptcy you may file: Chapter 7 or Chapter 13. Your choice can depend on a variety of factors, such as the results of your means test, what assets you have and want to keep, and if your debt is primarily Read More
Supreme Court to Hear Debt Collection Case
The Supreme Court has agreed to hear a case involving a debt collector who violated the Fair Debt Collection Practices Act (FDCPA) by filing a claim on a time-barred debt. The case involves Aleida Johnson, a resident of Alabama, who entered into Chapter 13 bankruptcy in 2014. A large debt collection agency called Midland Funding filed a proof of claim on a debt of $1,879 that Ms. Johnson owed 10 Read More
What Happens at a Meeting of Creditors?
If done right, bankruptcy can put you on the path toward financial stability. It can also be used to help you focus on recovery rather than scrambling to pay debt collectors. Under automatic stay, for example, creditors are not allowed to contact you or file a lawsuit to collect funds. In order to declare bankruptcy, one of the first steps is attending a meeting of creditors, also known as a Read More
What Happens If Creditors Keep Calling Me?
Filing for bankruptcy is supposed to provide you with a path toward financial stability, but this can be difficult if you are still being hounded by creditors and debt collectors. This kind of harassment is disruptive and can make it difficult to move on with your life. Luckily, there are protections against these creditors built into a properly filed bankruptcy. Call the Cleveland Bankruptcy Attorneys at Cleveland Bankruptcy Attorneys at Read More
What is a Bankruptcy Trustee?
When consumers file for bankruptcy, there are 2 people they may work closely with during the process: their bankruptcy attorney and their bankruptcy trustee. While your attorney is performing duties on your behalf, the trustee of your case is an independent party whose main goal is to ensure your case runs according to the bankruptcy law. No matter if you choose Chapter 7 or Chapter 13, a trustee will play Read More
Can You File Bankruptcy For Child Support?
Many people consider filing for bankruptcy when their debts become far greater than what they can afford to pay. Bankruptcy helps you eliminate or pay off past due bills, which allows you to get caught up and start over. One question you may have when considering bankruptcy is if it will get rid of everything you owe, or if it only pertains to certain bills. Specifically, would filing for bankruptcy Read More
Many Millennials Face Overwhelming Debt
Millennials can’t seem to catch a break. The generation born between the late 1980s and the early 2000s often gets ridiculed in society as a group of carefree hipsters who love the latest tech innovations but loathe work and real responsibility. Even if they can shake off this unsavory reputation, Millennials all seem to agree on one issue: they’re finding themselves drowning in overwhelming debt, with no clear idea on Read More