August 17, 2016 | WHAT IS A CONFIRMATION HEARING? WHAT CAN I EXPECT?
Overview: A confirmation hearing is a court hearing required by the Bankruptcy Code and applies to Chapter 13 cases. A confirmation hearing does not occur in a Chapter 7 case. The purpose of the confirmation hearing is to ensure all parties in interest (creditors, the trustee(s), the debtor) agree with the debtor’s proposed Chapter 13 plan. If everyone is in agreement, the case is confirmed. If there is a challenge to the plan by any party, a confirmation hearing will be held in order for the judge to address and rule on the party’s concerns.READ MORE
August 17, 2016 | WHERE CAN I OBTAIN MY OHIO VEHICLE TITLE?
In a Chapter 7 bankruptcy case, if you own a vehicle, you will be required to show proof of ownership by presenting a copy of the vehicle title to the Chapter 7 case trustee. Your vehicle registration, insurance card, or lien release letter from a bank will not suffice for this proof of ownership. In order to show proof of ownership, you must present one of the following 1) In cases where you own a vehicle free and clear of liens, a copy of the free and clear vehicle title is required 2) In casesREAD MORE
August 17, 2016 | KEEPING PROPERTY IN A CHAPTER 7 BANKRUPTCY
One of the considerations you will face as you and your attorney at The Nesbitt Law Firm determine whether a Chapter 7 bankruptcy filing is right for you, is how a Chapter 7 filing will affect the property you own. The property that you own, but are still making payments on is called collateral and the loan is called a secured debt. In Chapter 7, you have three basic options regarding collateral of a secured loan: reaffirm, redeem, or surrender. What does it mean to reaffirm, redeem, or surrender secured collateral in Bankruptcy? What shouldREAD MORE
August 17, 2016 | WHAT ARE THE EXCEPTIONS TO DISCHARGE IN BANKRUPTCY?
The purpose of filing bankruptcy is to eliminate debt. However, the Bankruptcy Code provides for certain exceptions to discharge. In other words, even if you file bankruptcy and are granted a discharge where your debt is eliminated, you may still owe certain types of debt. Only an experienced bankruptcy attorney can advise you as to whether your debt will be discharged and eliminated at the end of your case. However, for general purposes, you can expect to remain liable on the debt listed below, even after you file and receive a discharge in bankruptcy: StudentREAD MORE
August 17, 2016 | WHAT WILL HAPPEN IF I DON’T FILE MY TAX RETURN ON TIME? WHAT IF I HAVE TAXES FROM PAST YEARS THAT I STILL NEED TO FILE?
This year, 2013 individual tax return filings are due to the Internal Revenue Service (IRS) no later than April 15, 2014. The deadline is the same for state, local, and school district taxes in Ohio. A common and unfortunate misconception for tax filers is that taxes owed do not become due until the return is filed. That is not the case. Any taxes owed for 2013 tax year are due to be paid to the IRS, State, etc. by April 15, 2014, regardless of whether the return is filed. Many will say, “I couldn’t affordREAD MORE