Vance P. Truman, Attorney at Law
Putting People's Financial Worries Behind Them Free Initial Consultation
330-591-4729

debt relief Archives

Doubts about student debts may help or complicate forgiveness

Debt is a major problem for many Americans. Figures have been steadily rising to around $2.4 trillion currently owed by individuals. Only a third of this staggering amount is revolving debt, such as credit card debt, while the remainder is in loans for cars, houses and education.

Debt consolidation and avoiding bankruptcy in Ohio

Debt is a major problem in the United States, with millions of people owing trillions of dollars to debt collectors, credit card issuers and other consumer creditors. It is tempting to ignore debt-related problems when they seem unmanageable, but this inevitably makes the problem worse.

Do co-signers have to pay after bankruptcy?

Your child wanted to buy a car and couldn't get approved alone. You decided to co-sign, saying you'd share the car. The total payment was $500 per month, and you both paid $250 of that. If your child then goes bankrupt, do you still have to pay for the debt, or is it all cleared since it was the same auto loan?

Common bankruptcy myths

Many people are under the impression that filing for bankruptcy can cause them to lose their homes and cars. These individuals may already be drowning in debt and struggling to make payments to keep their homes out of foreclosure and their vehicles out of repo status. Bankruptcy can help those who are having trouble with debt to overcome their financial issues and save their property, in some cases.

To identify a debt collection scam, ask for your own information

The phone rings, and you don't have the number saved. You pick it up anyway, even though you think it's a telemarketer, but you're surprised to find out they're not trying to sell you anything. They do want your money, though. The person claims to be with a collections agency, trying to collect on what you owe.

Why do people get stuck in debt?

Getting out of debt sounds simple: Spend less money and pay off what you owe. Unfortunately, it's not always that simple, especially when dealing with significant levels of debt -- like medical debt that you may never earn enough to pay off. For more common, everyday debt, these are a few reasons people may not be able to shake it:

Disclose all assets or put exempt property at risk

Filing for bankruptcy is an option when your debt seems out of control. Usually, it is a great way to protect some of your assets, especially those that are used in the production of income. But what happens if you forgot to mention that $150,000 you received when you sold your home? Or the cash you have sitting in the offshore account?

Get the debt relief you need, the personal attention you deserve.

Call us today for a free consultation at 330-591-4729, or fill out the form below, and we will contact you.

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689 Lafayette Rd.
Medina, OH 44256

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