Are You Visiting Our Website Because You Are Wondering if Filing for
Bankruptcy is Right For You?
Our Cleveland bankruptcy attorneys understand that bankruptcy is one of the most complicated and least understood areas of Ohio law. Some people have tried to go through the bankruptcy process alone, with no attorney to advise them, but with the complexity of the procedures and requirements, it is wise to consult with a lawyer before even making the decision to file. Bankruptcy is not for everyone, but for some, it is the best option. There are many myths and misconceptions, and two of the biggest can be cleared up easily with two simple statements:
- Filing for bankruptcy does not destroy your credit for the rest of your life.
- Filing for bankruptcy does not make all of your debt magically disappear.
If your bills are mounting faster then you can cope with them, if you have recently experienced a severe decrease in family income that will not change back anytime soon, or if you own a business that is struggling to keep its doors open, then bankruptcy may be an option. An experienced Cleveland bankruptcy attorney can help you examine the different types of bankruptcy, as well as your personal financial situation, so that you can make an informed decision as to whether bankruptcy is right for you, or whether there may be another, better option for your situation. There are many possible positive benefits that bankruptcy can have, if it is right for you. Some clients have been able to:
- Save their homes from foreclosure
- End wage garnishments
- Get rid of collection agencies
- Have utility services reinstated
The very first thing that complicates bankruptcy is that there are several types of bankruptcy, each of which is quite different. Part of deciding whether bankruptcy is right for you is understanding what types of bankruptcy are available, and which options you are eligible for. The most common types of bankruptcy are:
Each of these chapters of the United States Bankruptcy Code applies to different situations, and in order to know how to proceed, you need to have as thorough an understanding as possible of the consequences, both positive and negative, of each. There are actually several other types of bankruptcy as well, but these three will cover the majority of people and businesses.
All bankruptcy proceedings will require that you go through credit counseling and take classes in debt management. You also need to know in advance that some debts cannot be discharged through bankruptcy, and that you may lose some of your property as part of the bankruptcy process. In short, bankruptcy is a very serious decision, and not to be entered into without as much information as possible.
If you believe that bankruptcy may be the best option for you, speak with a dedicated Cleveland bankruptcy attorney as soon as possible to discuss all of your options. Although bankruptcy is a good options for some people, an attorney may be able to point you to a non-bankruptcy options as well. Eric Laubacher has helped countless people in Cleveland and around northern Ohio to bring their debts under control and get a new financial start. If you feel that you can’t control your debts and your bills, and want to know whether bankruptcy is an option for you, speak contact the Cleveland bankruptcy lawyers at Laubacher and Co. today for a FREE INITIAL CONSULTATION at (440) 356-5700.