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Toledo Couple Improves Their Finances Through A Chapter 13 Bankruptcy

Recently, a married couple from Toledo came to the Ohio bankruptcy attorneys at Luftman, Heck & Associates, when their financial situation became unsustainable. Their income was primarily based on the husband’s career as a self-employed contractor; however, this posed some challenges since it fluctuates, depending on the season and work availability. Consequently, the couple fell behind on their monthly expenses, their home was placed in foreclosure, they became past due on their taxes, a judgment lien was placed against the home, and their car was repossessed. The two of them were unsure of how to handle this difficult situation and how they could get back on the right track, so they began looking for very capable Ohio bankruptcy attorneys and came to the offices of Luftman, Heck & Associates.

During a consultation with the experienced bankruptcy attorneys with LHA, the couple discussed their various financial worries. It became apparent they were also concerned with the possible loss of a mobile home that was in their name, but occupied and cared for by the husband’s mother. Under our keen legal representation, they effectively filed a chapter 13 bankruptcy plan that excluded the mother’s mobile home but aimed to correct their other issues. This action removed their home from foreclosure, as well as the lien against the property, and erased or drastically lowered the amount of debt they faced. The chapter 13 bankruptcy protection additionally allowed them to reacquire their car within 24 hours of filing, at no additional cost, and even lowered the loan balance for the vehicle from $3,000 to $500, based on the car’s more accurate value. During the entire bankruptcy plan, we also worked out a payment structure to allow for the clients’ varying income levels, where payments were suspended during the winter months when contractor work is less available and resumed at a slightly higher rate during the spring and summer months. Through our ability to tailor a solution for these clients’ unique problems, they successfully completed the bankruptcy plan and achieved a discharge along with a more stable financial position.

Prior results do not guarantee a similar outcome in your case. Individual results may vary based on the facts, injuries, jurisdiction, venue, witnesses, parties, and other factors. The results and client testimonials provided are not necessarily representative of the results obtained by all clients or their satisfaction with the firm’s services.