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debt relief Archives

Common bankruptcy myths

Many people in Ohio think that bankruptcy is the answer to all of their financial problems when they find themselves facing an insurmountable amount of debt. They may be genuinely struggling to pay their bills and household expenses. But not being properly informed about bankruptcy can result in them not getting the debt relief they seek and lead to complications. 

Getting a new mortgage after a bankruptcy

Ohio residents who want to consider bankruptcy as an option to help them with their debt-relief needs may often hesitate for fear about their future ability to get new mortgages. Understanding exactly what type of an impact a bankruptcy may have on future creditworthiness is important so that consumers can make fully informed decisions.

How can create a budget on a limited income?

For Cleveland residents with low incomes, creating a reasonable budget can seem all but impossible. After regular expenses are satisfied, you may find that you have very little money to work with in terms of saving. However, there are methods you can utilize that will allow you to create a common-sense budget and possibly save a little money in the process, even with a low income.

What are the signs of credit card abuse?

Credit cards are useful in many ways, but they carry a high risk of problems if you do not handle them responsibly. If you are starting to feel uncomfortable with your use of credit, you may be heading for financial trouble. Fortunately, recognizing the signs of misuse now may allow you to change your ways before more significant issues arise.

How to prioritize debt

Debt can quickly become an overwhelming burden with seemingly no hope of escape. However, it may be possible to recover from a mountain of debt with the right plan. People in Ohio who are suffering from excessive bills should first understand the type of debt they have, then prioritize which ones should be paid off first.

Getting Relief From Debt

Being in debt is an unpleasant experience, but not an uncommon one. Millions of Americans face this problem, and there are certain options you can consider for gaining some relief before having to file for bankruptcy. One option to consider is consumer credit counseling. Many credit agencies offer this service, and some of those are nonprofit organizations, which means you can get some expert advice for free. The counselor will recommend a debt management plan after calculating how much you should pay and how much interest to negotiate for with the creditors. The negotiations will allow for monthly paid amounts and possible a reduction in your interest rates. You can also opt to have the credit counsel agency take money from you and send it to the creditors themselves so no attempts are made to hoodwink you.

How to avoid debt

We live in a world where getting credit cardsis easy. One of the biggest indicators of this truth is the first thing you'll see when you go to an orientation day at your local college: booths by all the major credit card companies offering credit cards to incoming students. We also feel it every time we shop at a major department store and get hit with the "save 10% on your first purchase when you sign up for a store card" pitch.

Dealing with student loans

There are a number of ways to pay off student loan debt. Failing to pay off your loan might have severe consequences. There are certain government programs that may help when you are struggling with student loan payment. These programs either limit monthly payments to a fixed percentage of your discretionary income, or absolve you of your federal loans. However there is a strict eligibility criteria for such programs and only people who meet certain requirements can benefit from them.

How to avoid foreclosure

Missing payments on your mortgage puts you at risk for foreclosure. If a homeowner is unable to make required mortgage payments, the creditor is allowed to seize and sell the property. This is known as foreclosure. There are certain disadvantages associated with this process. Individuals who have gone through foreclosure have to wait a specific period of time before buying another home. They suffer from a drop in their credit score which reduces their chances of obtaining credit in the future.


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Akron, OH 44308
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Canton, OH 44702
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Columbus, OH 43215

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Youngstown, OH 44503
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Toledo, OH 43604
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Rauser & Associates Legal Clinic LLP
614 West Superior Avenue, Suite 950
Cleveland, OH 44113
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Rauser & Associates Legal Clinic LLP
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Suite 600-128
Independence, OH 44131
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Rauser & Associates Legal Clinic LLP
2000 Auburn Drive
1 Chagrin Highlands Suite 200
Beachwood, OH 44122
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347 Midway Mall Blvd
Suite 201
Elyria, OH 44035
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