Your bankruptcy exemptions detail the property that you get to keep when you file for Chapter 7 bankruptcy. These are the personal possessions and other property that won't be subject to liquidation when it's time to sell your property for the purposes of paying back debts. Fortunately, many bankruptcy filers are surprised by just how much of their favorite property they get to maintain through the following bankruptcy exemptions:
The days of the debtor prison in America are long over -- in theory. In reality, aggressive bill collectors are finding ways to use the legal process to criminalize being too poor to pay a bill.
Northern Ohio residents who have run up mountains of medical bills after a serious illness or accident can find themselves buried under debt. People who never let themselves get behind on a bill suddenly find themselves inundated with collection notices and threats from creditors.
If you're a Medina resident struggling with debt obligations, you are far from alone. It's frustrating to get hassled by creditors, which is why it is prudent to avoid running up debts in the first place.
If you have fallen behind on your mortgage payments, you shouldn't be surprised if you receive a notice of foreclosure from your lender. Although it's scary, it doesn't mean your lender will show up at your home tomorrow and take it back. You still have time to make things right.