August 10, 2016 | MY GAMBLING PROBLEM HAS GOTTEN ME INTO DEBT. CAN I FILE BANKRUPTCY?
There is a certain allure to gambling, the promise of a big payout can be extremely enticing, especially when you are on vacation in Las Vegas or Atlantic City and your usual guards are down. Whether it’s playing the lottery or the slots, sometimes people think that if they spend just one more dollar, they could hit the jackpot and wash all of their financial woes away. While some people do win when they gamble, many more lose and unfortunately when we turn to gambling to either feed our addictions or solve are financial problems,READ MORE
August 10, 2016 | WHEN IS THE RIGHT TIME TO FILE FOR BANKRUPTCY?
The benefit to filing for bankruptcy is the fresh start it provides to those that have gotten behind on important payments. However, simply being a little behind does not mean that you should file for bankruptcy. Making this claim involves significant thought and consideration about the potential outcomes. FILING FOR BANKRUPTCY SHOULD BE THE LAST RESORT The first step before choosing to file is to look at all your available options. Knowing what kinds of debt you have can help you develop a plan to remove the debt and understand how filing for bankruptcy canREAD MORE
August 10, 2016 | SHOULD I USE MY 401K TO GET RID OF DEBT?
It seems simple enough-pull money out of your 401k, put it toward the debt you’ve accrued, and later down the line make up for what you took out of your 401k. Unfortunately, this solution to debt isn’t always quite so faultless. While there are some advantages to using your retirement funds for debt, there are also a number of drawbacks to be aware of. Keep reading so you can make an informed decision for your financial circumstances. HOW CAN USING MY 401K HELP ME? Perhaps the most noteworthy benefit is that your 401k is alreadyREAD MORE
July 22, 2016 | CAN I KEEP MY CAR IF I FILE BANKRUPTCY? WHAT ABOUT MY HOUSE?
The purpose of a bankruptcy filing is to get out of debt and allow the debtor (the person filing bankruptcy) to receive a fresh financial start. However, it does not necessarily mean that a debtor will need to start all over with no car and no house or other assets to his name. The Bankruptcy Code and the laws of the State of Ohio have built in protections that debtors can take advantage of in order to keep their assets, such as a car, a house, a retirement account, and even money in the bank.READ MORE
July 22, 2016 | WHAT DEBTS CAN BE DISCHARGED THROUGH CHAPTER 7 BANKRUPTCY?
Filing for Chapter 7 bankruptcy is an effective way to discharge much of your outstanding debt, provided you qualify. However, not all of your debts can be cleared through this process. The federal bankruptcy code clearly dictates the types of debt that cannot be discharged, and any debts which are not on that list are eligible. DISCHARGEABLE DEBTS When it comes to Chapter 7 bankruptcy, the majority of debts can be discharged. For many individuals, Chapter 7 can actually completely eliminate their outstanding debt. The full list of dischargeable debts is exhaustive, but the mostREAD MORE