It’s no surprise that filing for bankruptcy will affect your credit score. After your bankruptcy discharge is awarded, you may see a drop of as much as 200 points in your score. Additionally, your bankruptcy will remain on your credit report for a number of years; Chapter 7 bankruptcies remain on credit reports for ten years and Chapter 13 bankruptcies remain for seven years. Although bankruptcy will lower your credit 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.
Payday Loan Company Settles After Attempting Debt Collection Despite A Bankruptcy
When an someone files for bankruptcy, the individual is attempting to handle their financial responsibilities properly. If an organization tries to collect a debt that was discharged as part of a prior bankruptcy filing, they may me violating your rights. Recently, the attorneys at Cleveland Bankruptcy Attorneys represented a man who previously became entangled in significant debt and sought relief through Chapter 7 Bankruptcy. After completing the process, which included Read More
Good Debt vs. Bad Debt
Debt is becoming a bigger and bigger problem here in the U.S. More and more Americans struggle under the financial burdens of debt every year, making it a struggle to get by. Unfortunately, this has led to many misunderstandings about debt, demonizing any debts as a bad thing and making people forced to take on any debts feel guilty. In reality, there are good debts and bad debts, and it’s Read More
Cleveland Woman Spared From $129,000 Debt And Offered A New Payment Plan With Chapter 7 Bankruptcy
A woman in Cleveland, supporting her 29-year-old daughter with disabilities contacted the attorneys at Cleveland Bankruptcy Attorneys after she became $129,000 in debt. A substantial area of her concerns stemmed from a payment plan from furnishing her home with items from a rent to own company. Essentially, due to high-interest rates and small monthly payments spread over a long period, a $500 item could end up costing $1,500. Our client Read More
Toledo Family Saves Home Through A Chapter 13 Bankruptcy
A Toledo family found themselves in a precarious financial situation after being out of work for some time and incurring $25,000 in medical bills. The medical companies filed lawsuits against them and five liens were placed against the property at the same time they were falling behind on mortgage payments. With the foreclosure process looming and the threat of liens consuming any funds from a sale of the home, they Read More
Inherited IRAs May Be a Factor in Deciding Whether or Not to File for Bankruptcy
When you file for bankruptcy, you generally don’t have to worry about losing your retirement accounts. Your 401(k) remains untouched by bankruptcy and IRAs are protected up to $1.2 million dollars. This retirement money is meant to allow you to keep your fresh start and prevent debtors from running into the same problems in old age. What about inherited IRAs, though? According to the U.S. Supreme Court, inherited IRAs are Read More
How to Handle Payday Loan Collectors
If you’ve ever been a little late paying your bills, you know how difficult it can be to deal with debt collectors. Even when they are following the Federal Trade Commission’s (FTC) rules for fair debt collection practices, it can feel like you are being harassed. When they violate these rules, the stress can feel overwhelming. That’s why it’s no surprise that payday loan collection tactics—widely known to regularly break Read More
4 Ways You Can Fix Your Credit Fast
Everyone knows how important your credit score can be, especially when trying to get a loan or buy a house. That’s why a poor credit score can be a real obstacle—and a few small mistakes can have a significant financial impact. When you’re trying to recover from a poor credit score, it can feel like there is nothing you can do but wait until seven years have passed and the Read More
Student Loan Tax Deductions
Student loans can be a difficult financial burden for many young people today. The skyrocketing costs of a college education can make it difficult for most adults to graduate without owing some amount of money on student loans. Luckily, there is some relief available to most people who owe student loans. You can take a student loan tax deduction. Every year, you are allowed to take a tax deduction for Read More
Can Creditors Still Collect Debt That Was Wiped Out by Bankruptcy?
When you are overwhelmed by debt, bankruptcy can offer you a fresh start financially. Your debts are wiped out, and you can start over with a clean slate. Sometimes, though, creditors, debt collectors, and collection attorneys threaten these rights to a fresh start and try to collect on a debt that was wiped out by bankruptcy. Many clients come to us full of worry, wondering, “Can creditors still collect a Read More