If you are facing serious financial challenges, know that you are not alone. Many people get overwhelmed with debt because of a severe medical issue, job loss, separation, divorce, or another unfortunate life event. Regardless of the cause of your debt, bankruptcy may be able to help you find the relief for which you’ve been longing.
For years, Luftman, Heck & Associates has been helping residents in Medina improve their financial wellbeing through Chapter 7 and Chapter 13 bankruptcy. If you are wondering whether one of these bankruptcy types makes sense for your particular situation, do not hesitate to call (216) 586-6600 to speak to a highly skilled Medina bankruptcy lawyer.
Bankruptcy in Medina County
According to the United States Census Bureau’s data from 2011 to 2015, the median household income in Medina County is $66,952. The per capita or average income for this county is $31,760 and 7 percent of the residents are living in poverty. With so many people living in poverty, debt is common. For people above and below the poverty line, bankruptcy can help manage some of the debt they face. If you’re dealing with overwhelming debt, contact our Medina bankruptcy lawyers today at Luftman, Heck & Associates.
Benefits of Hiring a Medina Bankruptcy Lawyer
By hiring a Medina bankruptcy attorney, you can find out whether you qualify for Chapter 7 or Chapter 13 bankruptcy through a means test that they will perform. Chapter 7 bankruptcy or liquidation bankruptcy may be a good option if you have little or no income and do not own much property. It can give you the opportunity to discharge all of your debts except for things like tax debts, spousal or child support, and student loans.
If you are ineligible for Chapter 7 bankruptcy, Chapter 13 bankruptcy may help you. This type of bankruptcy involves the creation of a repayment plan that will last three to five years. The repayment plan will fit comfortably within your budget and allow you to pay all of your creditors in one convenient monthly payment. Once you’ve completed your payments, any remaining debts that you may still owe may be discharged. Since Chapter 13 bankruptcy does not liquidate assets, it can help you avoid foreclosure of your home.
After a Medina bankruptcy lawyer has informed you of what type of bankruptcy you qualify for, they can work with you to take care of all of the forms and documents that are necessary for a filing with the United States Bankruptcy Court and the Ohio Northern Bankruptcy Court. Since they are well-versed in complex bankruptcy law, you can count on them to answer any of your questions or address any issues that may arise.
Regardless of which type of bankruptcy you qualify for, you can put an end to wage garnishment and creditor harassment while saving yourself a significant amount of money and stress in the future. A Medina bankruptcy attorney from Luftman, Heck & Associates will serve as your legal advocate throughout the entire bankruptcy process and after it’s been completed.
Reach Out to a Medina Bankruptcy Lawyer from Luftman, Heck & Associates Today
Through a discharge of your debt in Chapter 7 bankruptcy or a reorganization of your debt in Chapter 13 bankruptcy, you can find a way out of your financial troubles. To contact a Medina bankruptcy attorney from Luftman, Heck & Associates, you should call (216) 586-6600, or contact us online.