Wages have not kept up with inflation for several decades. As a result, many people are living from payday to payday. If they become sick or lose their job, they fall behind on their bills very quickly. Many people are ashamed to admit this and keep hoping that things will turn around for them. However once they fall behind, it’s impossible for them to work enough hours to get caught up. Bill collectors are calling every day and they are afraid of losing their home and car. Eventually they realize that they will have to speak with an attorney. If they make less than the median income for Ohio, then they qualify to file using Chapter 7 Bankruptcy in Hamilton, OH.
It’s important for a debtor to understand what debt a Chapter 7 filing will wipe away. While it will erase non-secured debt such as credit cards and medical bills, it does not clear student loans, taxes and child support. A person can only declare bankruptcy every eight years. Therefore it’s important that the lawyer help them get their entire financial picture in order. Certainly clearing off unsecured debts will free up money to help pay the remaining debts. R. Dean Snyder, Attorney has 20 years of experience helping people through the bankruptcy process. He can ensure that each client completes the bankruptcy process in the strongest possible position.
Once a debtor has filed for Chapter 7 Bankruptcy in Hamilton, OH, the judge appoints a trustee to sell of all of their unsecured debt. Their attorney is there to make sure that the trustee only sells the assets they are entitled to. Usually the debtor can keep their house, car, and the equipment they need to make a living. These rules vary among the individual states and it’s important to have a lawyer that understands the laws of Ohio. Once the sale is complete, the trustee divides the proceeds among the creditors. Any debt that remains is forgiven. The entire process usually takes only three to six months. When it’s finished, the debtor is free to continue with their life. If an employer finds out that about the bankruptcy, it is against the law for them to fire the person. So their job should be their for them at the end.
