Attorneys Helping Clients Visualize and Attain a Fresh Life After Bankruptcy
Often our prospective clients' concerns regarding bankruptcy revolve less around financial issues and more about issues relating to who will find out about their bankruptcy, and what they will think.
This is understandable. Shame about debt is almost universal, and almost everyone has experienced it. The truth is, though, that few people learn about others' bankruptcies, and more and more people understand that bankruptcy is a valid, effective and commonly used solution to debt.
In addition, bankruptcy laws protect parties from taking adverse action against a person because he or she filed bankruptcy. For instance, bankruptcy laws include a specific provision prohibiting employers from discriminating against employees because they have filed for bankruptcy. And while bankruptcy actions are reported to credit agencies, they are not reported to local newspapers or otherwise generally broadcast.
What Are Some of the Effects of Bankruptcy?
Positive effects of bankruptcy are numerous. Under Chapter 7 bankruptcy, debt is quickly reduced or eliminated through discharge and can be reduced further by the sale of non-exempt property. Under Chapter 13 bankruptcy, monthly payments are reduced and early pay-off dates are arranged under court-approved payment plans.
Credit is also often available to debtors soon after bankruptcy proceedings are completed. The credit terms may be less favorable, but lower debt-to-income ratios result from bankruptcy, and calls, letters and threats from creditors cease. Businesses often find they are more competitive following bankruptcy as overhead costs are lower, allowing for increased profits. For more information about our firm and life after bankruptcy, contact our offices.
Contact Us
For effective bankruptcy legal help and considerate, responsive client services, contact the Cincinnati, Ohio, law firm of Minnillo & Jenkins. We provide free initial consultations and charge affordable, competitive rates. To schedule a free initial consultation with a bankruptcy lawyer at Minnillo & Jenkins, call 513.723.1600 or contact us online.
We have five convenient offices with free parking to serve you. Evening and weekend appointments available.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
