Will I lose everything if I file for bankruptcy?
No, you will not lose everything if you file for bankruptcy. In fact, the majority of people who file for bankruptcy don’t lose anything.
Will my credit be ruined?
If you’ve experienced foreclosure or are behind on your bills, you are most likely already suffering from poor credit. Bankruptcy gives you an opportunity to rebuild your credit and alleviate your financial stress. While bankruptcy will remain on your credit record for 10 years, it will also wipe out most of your debt and leave you in a better place to handle your current needs.
What will bankruptcy cost?
Court costs for Chapter 7 bankruptcy are $306. Court costs for Chapter 13 are $281. There are also attorney’s fees to consider. These are set by court order in a Chapter 13 filing. In Chapter 7 cases, attorney Thomas D. Berry will work with you to determine an affordable rate and payment plan.
How long will the bankruptcy process take?
A Chapter 7 bankruptcy can typically be completed and discharged within three to six months. Chapter 13 can take significantly longer as it is often much more complex. It is critical to use an experienced bankruptcy attorney for these cases. Sitting down for a free consultation and estimate can give you a better idea of the timeline involved in your particular situation.
Does filing for bankruptcy discharge ALL debt?
No, not all debts are discharged by filing for bankruptcy. With a Chapter 7, debts such as recent taxes, child support, alimony, court fees, DUI-related debts. most student loans and various others will remain.
Chapter 13 doesn’t discharge any debt resulting from fraud, theft, embezzlement, breach of fiduciary duty, debts from divorce settlements and various others.
What is Ohio’s homestead exemption?
Ohio’s homestead exemption allows homeowners to exempt a certain portion of their home equity. For more details, call (937) 278-9333 now.
If I’m married, can I double my homestead exemption amount?
Yes. If you are married and living in the state of Ohio, you may file jointly with your spouse.
How do I file a homestead exemption?
Your homestead exemption will be applied automatically during the bankruptcy proceedings. In other words, you are not required to file a homestead declaration in order to take advantage of Ohio’s homestead exemption.
What is Ohio’s wildcard exemption?
Ohio’s wildcard exemption allows you to apply a specific dollar limit to any type of property. In other words, if your skateboard is valued at $200, you may use a portion of your wildcard exemption to maintain possession during bankruptcy proceedings.
Do you offer free consultations?
Yes! Thomas D. Berry Attorney at Law offers both free consultations and estimates.