Caudill Law has decades of experience supporting clients through Chapter 7 & 13 Bankruptcy as well as businesses with tax debt in Dublin, Ohio.
Chapter 7 bankruptcy does not protect co-signers from being pursued by creditors. If a debtor’s loan or debt has aco-signer, the creditor can still seek repayment from the co-signer even after the debtor’s obligation is discharged. In addition, filing for Chapter 7 bankruptcy is a matter...
1. What are the advantages of filing Chapter 7 bankruptcy?Chapter 7 bankruptcy is kind of like pressing a financial RESET button for your life. It was created to give those in a seemingly hopeless financial situation a fresh start. Chapter 7 is considered a debt liquidation; a way to ...
Chapter 7 bankruptcy will wipe out unsecured debts such as credit card bills and medical bills. You are still on the hook for certain debts, such as tax debt, child support, alimony, and student loan debt. For student loan debt, you might be able to discharge that debt if you can prove...
Include all taxable income received during the year on your tax return, but do not include any debt canceled as income on your return. You must reduce losses in property by the amount of canceled debt. Chapter 7 or 11: When you file for bankruptcy under Chapter 7 or 11 of the ...
Chapter 7 bankruptcyis a legal procedure that discharges a debtor from personal liability for certain types of debts, including credit cards, medical bills, personal loans, foreclosures, repossessions, overdrafts, check cashing loans, etc. Upon filing for Chapter 7 bankruptcy, you will be protected...
Chapter 7 Bankruptcy is often called the “fresh start” provision of the bankruptcy code because it allows you towipe out all of your debt. In a Chapter 7, we show the Court that you are unable, based upon your budget, to pay the debt that currently hangs over you. ...
Chapter 7 Bankruptcy is a Good Option When financial hardships have made it impossible to pay normal monthly bills, many people choose to bury their heads in the sand over the situation because they are frightened and frustrated and have no idea how to stop the inevitable. Debt collectors may...
Foster Law Offices, LLC assists consmers with obtaining a fresh start through Chapter 7 Bankruptcy. Credit card debt, medical bills, loans? We can help.
In a chapter 7 case, the bankruptcy trustee gathers and sells the debtor’s nonexempt assets and uses the proceeds of such assets to pay holders of claims (creditors) in accordance with the provisions of the Bankruptcy Code. Part of the debtor’s property may be subject to liens and ...