Minnillo & Jenkins, CO. LPA
Call 513-723-1600
For A No-Pressure, Free Consultation

December 2016 Archives

Bankruptcy vs. debt negotiation -- myths and truths

Ohio consumers who have accumulated levels of credit card debt with which they feel uncomfortable may be looking at the available debt negotiation options. While some possibilities can be useful, the myths that surround this subject makes it difficult to make informed decisions. After considering all the choices, it may be wise to compare those with the protection offered by the federal Bankruptcy Code.

Bankruptcy myths of which to take note

Ohio residents who have lost their jobs, incurred unanticipated medical expenses, gone through divorce or any other significant financial hardships may be considering their options. While personal bankruptcy may be the better choice for many -- considering the protections offered by the federal Bankruptcy Code -- many misconceptions or myths are linked to bankruptcy proceedings. The first myth is that bankruptcy ruins the filer's credit record forever. That's not true. In fact, any other debt relief option could also adversely affect a consumer's credit score; moreover, offers of secured credit cards may arrive within as little as one month following a discharge in bankruptcy.

Bankruptcy protection could lead to financial stability

Ohio consumers who have fallen on hard times due to any of the various unanticipated twists and turns life can dish out may be looking for ways to regain financial stability. Bankruptcy is often the most efficient way to achieve that. Knowing the consequences of filing for bankruptcy can help consumers determine if it is the best option for their circumstances.

Bankruptcy vs. personal loan to refinance credit cards

Consumers nationwide, including in Ohio, can be the victims of life's unanticipated twists and turns. Job losses, car accidents or other unexpected occurrences can ruin any consumer's budget in the blink of an eye. In many cases, consumers have no emergency funds, and the only answer is to use credit cards. This sets a debt spiral in motion as unpaid credit card debt is difficult to overcome, and bankruptcy may be the only solution.

Email Us For A Response

How Can We Help You?

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Contact us right now for a free bankruptcy consultation

NACBA - National Association of Consumer Bankruptcy Attorneys

Proud Member NACBA

We are proud members of the NACBA, a national organization dedicated to serving the rights of consumer debtors. Read More

Super Lawyers

Jenkins Named Super Lawyer!

Founding partner, Christian A. Jenkins, was selected by his peers and the media as a Super Lawyer. Read More

Cincinnati Office
2712 Observatory Avenue
Cincinnati, OH 45208

Phone: 513-723-1600
Cincinnati Law Office Map

Cincinnati Office
792 Eastgate South Dr
Suite 150
Cincinnati, OH 45245

Phone: 513-685-0612
Cincinnati Law Office Map

Fairfield Office
447 Nilles Rd
Suite 9
Fairfield, OH 45014

Phone: 513-795-0995
Fairfield Law Office Map

Covington Office
526 Philadelphia St.
Covington, KY 41011

Phone: 513-795-0995
Map & Directions