Minnillo & Jenkins, CO. LPA
Cincinnati 513-723-1600 [ Hyde Park, Eastgate, West Chester, Mason ] dayton 937-550-1030 email Us for answers Email

Cincinnati Bankruptcy Law Blog

How do Chapter 7 bankruptcy and Chapter 13 bankruptcy differ?

Assuming that you are an individual and are contemplating bankruptcy as an option for debt relief, you may have wondered about the differences between Chapter 7 and Chapter 13 bankruptcies. There are multiple differences between them to carefully consider, assuming that you have already carefully considered bankruptcy in lieu of other options.

Some, but not all of the distinctions between Chapter 7 and Chapter 13 are:

  • How much money do you make? If you make more than the Chapter 7 "means test" allows for, then Chapter 7 may not be available to you. In that case, you may be looking at Chapter 13 more by default than by choice.

How can I use bankruptcy to discharge my federal student loan?

Of the various kinds of debt that an individual might seek bankruptcy relief from, federal student loans can be among the most difficult to get out from under. Even if you were not able to complete your degree, or were not able to find work in the same field as your degree, or even if you feel that the quality of the education that you received was not worth the tuition you paid, you are still obligated to pay your student loans.

Moreover, if you are in a state of financial difficulty serious enough that you are contemplating bankruptcy, in many instances your student loan debt may still survive once you have come out of bankruptcy.

Ohio homeowner sues mortgage company over foreclosure filing

An Ohio homeowner may be among the first individuals to use a provision of the Dodd-Frank law to file a lawsuit against a mortgage servicing company.

Although the Dodd-Frank law may be thought of by many as a law dealing largely with securities regulation, one provision deals with a problem that some homeowners have encountered when it comes to properties under threat of foreclosure. Specifically, the law requires banks and other mortgage lenders before filing for foreclosure to entertain in good faith attempts by homeowners to apply for loan modifications.

The basics of foreclosure

Since the housing market hit a downturn in 2008, many people in Cincinnati, Ohio, and across the country, have had difficulties paying mortgages due to fluctuating variable interest rates.

These people are facing the threat of foreclosure, and the prospect of losing their home. In order to know how to deal with foreclosure on your mortgage, and escape the threat of losing your home, it's important to know what foreclosure is and how it works.

Fake debt collection calls reminders of real abuse by collectors

In recent years some Ohio residents have relied on credit cards and other forms of borrowing to get them through some decidedly tough times.

While those debts may have been a source of stress and anxiety for many people, they have also become a means for swindlers to try to take advantage. In a recent development, for example, several people have been the victims of an attempt to be intimidated into paying imaginary debts.

Senators seek bankruptcy forgiveness for private student loans

While bankruptcy can be a viable option for people who find themselves in financial trouble, some forms of debt cannot be erased through bankruptcy relief. One type of consumer debt that plagues many Americans has been the recent focus of debate in Congress and among consumer rights groups.

Student loan debt is generally not subject to discharge in bankruptcy. The unfortunate irony of that fact is that, during recent times of a struggling economy with high unemployment, many Americans who borrowed significant sums of money to get a college education have been unable to obtain the type of job that would allow them to repay the loans.

Ohio borrowers benefit from SunTrust foreclosure settlement

Abuses by mortgage companies against consumers have received much attention in the past few years, with several high-profile national settlements. Now, SunTrust Mortgage, Inc. can be added to the list of companies who have to pay consumers back for millions of wrongful gains due to abuses in mortgage servicing, mortgage origination and foreclosure.

The company recently entered into a settlement totaling over a half-billion dollars, which was approved by 49 states as well as the nation’s capital and two federal agencies. To effectuate the agreement, a consent judgment will be entered against the company in federal court.

Supreme Court says inherited IRA is not exempt bankruptcy asset

Consumer bankruptcy is a useful tool afforded to Americans by federal statute that can significantly help those who have found themselves burdened by an unmanageable load of debt due to any number of unpredictable life situations.

Losing a job, unexpected sickness and the subsequent medical bills, as well as the struggling economy are only a few of the factors that have in recent years brought thousands of people to the courts asking for a fresh start.

Creditors develop new ways to collect outstanding debts

As the economy continues to pull itself from the depths of the recession many Ohio residents are experiencing that same slow rise; some of them are impeded by their outstanding debts to a number of creditors.

To make matters worse, it turns out that for debt collectors and creditors there are new methods available to force those who owe into paying. For example, in a number of states creditors now simply file lawsuits against debtors in the hope that they will not show up in court to defend themselves. 

Zales avoids bankruptcy, agrees to be bought by competitor

It is the nature of competitive business that some companies will struggle to run their operations effectively. It is often not enough to simply break even financially, but rather to make enough sales to earn a profit.

When a company experiences significant and ongoing business debt, it may be forced to file for bankruptcy. However, before taking that step sometimes a company can merge with or be acquired by another company that is in a healthier financial position.

Contact Us

Office Visit Our Family Law Site