When you file for Chapter 7 bankruptcy, you can get the relief you need from debts that are overwhelming you. Generally, in this type of bankruptcy you can discharge any unsecured debts. That includes any debts you have from medical bills, credit cards, personal loans and other types of debt. Additionally, your home, car and other personal belongings may be exempt from the process. Rauser & Associates Legal Clinic LLP can thoroughly examine your financial situation and provide the honest answers you need. We have offices in Columbus, Cleveland, Akron, Youngstown and Canton and throughout the state.
The True Fresh Start
At its core, Chapter 7 bankruptcy was developed to give hardworking Americans a chance to get out from under a mountain of debt. Whether through job loss, a reduction in hours, divorce or a medical emergency, a family's finances can quickly become strained. Filing for Chapter 7 bankruptcy benefits individuals in many ways, including:
- Ending creditor harassment: If you are being harassed by creditors who are bothering you at work and contacting your family, friends and neighbors, you can stop them immediately simply by hiring our law firm to represent you. Upon retaining our services, our lawyers provide you with a special record number so that you can refer your creditors to us, which will stop the harassment.
- Stopping repossession: In Chapter 7 bankruptcy, we can eliminate any balance due after a vehicle financing company has repossessed your car and auctioned it. This can remove the risk of a lawsuit or garnishments the finance company might seek to recover the difference between the balance owed and the auction price.
- Stopping foreclosure: Based on your unique situation and where in the foreclosure process you are, filing for bankruptcy can halt it. Each situation is different and every client is unique. It is wise to discuss your specific financial dilemma with an experienced bankruptcy attorney.
- Protecting your assets: Many people fear that their property will be liquidated to pay creditors. Fortunately, the state of Ohio allows you to label certain assets as exempt from liquidation.
- Stopping garnishments and ending lawsuits: Chapter 7 is one of the most effective ways to immediately stop garnishments. Garnishments can diminish your hard-earned income, making it almost impossible for you to afford life's basic necessities. By filing Chapter 7 and stopping the garnishment, you will be able to use your income for more important necessities and start saving for your family's future. We can also help you get your driver's license reinstated if it is suspended due to an uninsured car accident and stop any lawsuit related to that car accident.
Chapter 7 is one way for you to begin re-establishing your credit by reducing your debt-to-income ratio. With little or no remaining debt, lenders may feel that you will be better able to repay your debts in the future. Many people who file Chapter 7 buy homes within one year or finance cars after discharge. Many discharged debtors receive solicitations for unsecured credit within a few months.
If you have further questions about filing Chapter 7 or Chapter 13 bankruptcy, contact any of our convenient Ohio offices by calling 888-843-5787. We have offices in Columbus, Cleveland, Akron, Youngstown and Canton and throughout Ohio.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.