Are you looking for a bankruptcy attorney practicing in Marion, Ohio? Are you drowning in debts? Do you have debt collectors harassing you at home and embarrassing you at work? Are you trying to get your driver's license back? Are your wages being garnished? Is your home going through foreclosure? Bankruptcy may help you regain control of your life. Call us today to schedule a FREE consultation!
There are four different types of bankruptcy available to individual consumers:
Chapter 7 bankruptcy is a liquidation bankruptcy (also known as a straight bankruptcy) which allows you to maintain property up to the value of the allowed exemptions. In Ohio, we must use the state exemptions since the federal exemptions are not available here. Any property that is not exempt may be liquidated in a Chapter 7 bankruptcy to pay back a portion of your creditors. Many Chapter 7 bankruptcies do not have any property that needs to be liquidated.
Chapter 13 bankruptcy is a repayment of a portion of your debts. The bankruptcy plan usually lasts for three to five years. Calculating monthly expenses allows you to budget for necessities so that you can finally prioritize the expenses that you need to live. This allows you to manage your debt without having your debt manage you.
Chapter 11 bankruptcy is a reorganization plan primarily designed for businesses, but it is available to individuals as well.
Chapter 12 bankruptcy is a repayment plan that is only available to farmers and fishermen.
If you would like to learn more about bankruptcy and your debt repayment options, Elizabeth Martindell and her staff will work closely with you during this challenging time. We will help you choose the best path forward. Elizabeth Martindell is a bankruptcy attorney practicing in Marion, Ohio, and serving the surrounding counties of Wyandot, Crawford, Morrow, Delaware, Union, and Hardin. She is approved to file bankruptcies throughout the entire state of Ohio.
Check out our Bankruptcy Resources page for additional information that can help you through the bankruptcy process.
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