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

Bankruptcy: High amounts of debt could disrupt one's life

Issues with debt can affect the lives of individuals in Ohio and elsewhere in a variety of ways. In some cases, substantial financial struggles could disrupt one's ability to pursue his or her dreams of owning a home. Recent studies suggest that this is a concern for many millennials, as they may struggle to afford similar pursuits due to the combination of high debt loads and limited savings. Those who encounter similar concerns could consider pursuing the relief provided through outlets such as bankruptcy.

Recent studies indicate that there are a variety of issues that may influence the options millennials have when attempting to enter the realm of homeownership. These issues may include limited room for growth in income and constant increases to home values. When mixed with the burdens of carrying high amounts of student loan debt, many may feel they may never be able to afford a home.

As they wait for a time when they can afford to purchase a home, many may still be struggling to keep up with rent payments. With limited time to build up their emergency savings, these individuals may also be susceptible to a variety of financial risks, such as a medical emergency. Those who are unable to build a safety net could be one unexpected expense away from a potential disaster, and once it occurs, they might be uncertain where to turn for guidance on how to proceed.

Those who wish to keep problems with debt from affecting their financial futures could benefit from consulting with a bankruptcy attorney for advice on their available options. An attorney can address a client's financial standings and help form a plan to reduce or eliminate debts. This type of guidance could help a person in Ohio better prepare to pursue the required relief and begin working toward a healthier financial future.

No Comments

Leave a comment
Comment Information
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