A woman in her 30’s, who worked for the Canton school system recently found herself in a very familiar situation for many Americans. Essentially, she realized that her personal finances were suffering because she had more house than she could realistically afford. All of her funds went to paying for a home she purchased with none left over for other necessities. This created a vicious cycle of mounting monthly debt 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.
Ruling on Law School Grad’s Debt May Signal Shift in Loan Practices
A Brooklyn bankruptcy judge may have set a new precedent in her ruling of a recent case. Judge Carla E. Craig ruled that a law school graduate was allowed to discharge the unpaid portion of a loan she received from Citibank when she was studying for the bar exam. Lesley Campbell attended Pace University Law School in 2009 and, as preparation for her bar school exam, took out a “bar Read More
Bankruptcy Spares Akron Woman from $116,000 in Business Loan Debt
Recently, an Akron woman came to Cleveland Bankruptcy Attorneys when her small business ran into serious financial problems. The business thrived for some time, but like many proprietors she fell into a pitfall when profits declined by using her personal credit cards to cover costs and made several personal guarantees for the loans she took out to keep her business afloat. This essentially made her responsible for approximately $116,000, and Read More
How to Get Out of Debt When You Have No Money
When your best efforts aren’t producing results, it may be time to seek assistance from someone who can examine your debt and help you find a way out of it. A bankruptcy attorney is just such a person to offer practical help. But why hire an attorney? They cost money, and you’re already broke. Isn’t hiring an Ohio bankruptcy attorney just adding another unpayable bill to the pile? Finding yourself Read More
Student Loan Debt Forgiven For Collection Attempts After Bankruptcy
Today, a considerable financial thorn in peoples’ sides can be their student loan debt, which is usually very difficult to discharge through a bankruptcy unless an individual can show these payments are causing an undue financial hardship. Even if it is determined your student loan debt constitutes a hardship, the loan company may still try to collect. If a company engages in these practices, this would constitute a violation of Read More
Getting Credit after Bankruptcy
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
Bankruptcy Filing Clears Payday Loan Debt For A Man in Canton, Freeing Up Money For Other Bills
It’s an unfortunate reality that if you find yourself in an uncertain financial position, a person needs to adapt. Recently, Cleveland Bankruptcy Attorneys represented a man from Canton, receiving worker’s compensation due to a workplace accident. Our client was accustomed to a certain level of income and found it difficult to maintain this lifestyle after his unanticipated injury. His concerns about debt collection were reasonable because prior to contacting our 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
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