Vance P. Truman, Attorney at Law
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Medina Bankruptcy Law Blog

Chapter 13 bankruptcy can provide you with financial stability

A bankruptcy filing is something often viewed as a negative event in a person's life. This doesn't have to be the case. If you are considering filing for Chapter 13 to reclaim your financial future, you should look at this as a good opportunity to start fresh. We understand that you might have questions that you need answered. We are here to help ensure you understand the process so that you can get things going quickly.

Bankruptcy isn't an easy solution to your financial woes. You will have work to do. Credit counseling is one of the education requirements of this process. You can learn how to handle credit offers in the future so that you don't find yourself in a similar situation again.

Bankruptcy benefits: Why you need to consider bankruptcy now

Many people don't want to turn to bankruptcy out of the fear that it could make them look bad to others. They feel ashamed. Some don't want to turn to bankruptcy believing that they'll lose everything.

Since there are so many myths about bankruptcy, it's easy to get confused about its real purpose. The reality is that bankruptcy is designed to help people like yourself who are in a difficult financial position. The goal is never to take everything from a person. Instead, the process helps eliminate debt by selling assets not excluded from the process.

Medical debt weighing you down? You have some options

You're having trouble breathing. Your chest hurts. Is it a heart attack? You don't take any chances and call 911.

After the ambulance ride to one of the best Ohio hospitals, a battery of tests and an overnight stay hooked to a heart monitor, the doctors rule you OK to go home and give you a referral to a doctor for a follow-up visit. You are relieved -- until you get the bill a few weeks later.

Missing a mortgage payment on your Ohio home? Call the lender

When we face something unpleasant, our first thought is sometimes, "I'll think about it tomorrow."

But when it comes to telling your mortgage lender that you're having trouble coming up with the money for your monthly payment, the last thing you want to do is put it off. If you're an Ohio homeowner in this position, you must be proactive or face losing your home to foreclosure.

It never pays to stay in the pre-bankruptcy sweatbox

Bankruptcy often has the reputation of destroying financial health, but it can be the first step to freedom from creditors if it is used in the right way and at the right time. The decision can seem daunting and is always worth a lot of thought.

It is not worth it to be frozen in the process for very long, though, as a recent law review study shows. Most applicants for personal bankruptcy, especially using Chapter 13, may struggle the longer they wait and they may also lower their chances of receiving a bankruptcy judgment.

Is Social Security income in danger of garnishment?

Banks and creditors are not the only entities who may wish to garnish a debtor's wages if they have owed a lot for a long time. One of the dangers for certain debts is that benefits from the Social Security Administration (SSA) may be withheld as well as other income.

Who can garnish Social Security income?

How bankruptcy can change your life for the better

For many people in Ohio, financial difficulties mean that debts accumulate over time. Eventually, it becomes nearly impossible to be able to pay off their debts while still providing for their families. This situation can become an unfair vicious circle, because interest rates on debt will continue to perpetuate the financial problems.

When Ohioans get into this situation, they might feel as if they have no options left. Some residents may resort to short-term solutions to financial quagmires like taking out payday loans. Solutions like these are anything but and can become even more damaging financially. Bankruptcy is usually not considered until the debtor fears losing their home.

Ohioans offer mixed reaction to debt settlement companies

It is always difficult to imagine hard times when things are going well. But when your finances are down and out, it's just as hard to imagine things ever improving. Fortunately, there are many ways out of dire straits before they ruin lives.

Personal bankruptcy is finally shedding its false air of shame in America, as the Great Recession made it more acceptable and more likely for people and families to declare it. It is, however, a long and complicated process to successfully file for bankruptcy and it should not be considered the first step to take to relieve personal debt.

New Ohio program shows the need for affordable bankruptcy

It is a big part of the American Dream to have assets. The most popular one is a home, and it was expected for much of the 20th century that families would strive to own their own home. So it often feels like a nightmare when assets turn into liabilities and families have to leave them behind.

Bankruptcy seems like the worst-case scenario but it can often feel like a fresh start compared to the problems of dealing with creditors, wage garnishment and other consequences of unmanageable debt. Chapter 7 bankruptcy allows a trustee appointed by the court to settle as many debts as possible with the debtor's assets in exchange for debt forgiveness.

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

Phone: 330-591-4729
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