Greater Cincinnati and Northern Kentucky Debt Relief and Bankruptcy Attorney
Are you making enough money to cover your living expenses but are not able to make payments on your debt? Before you consider draining your 401(k) and other retirement accounts, speak with an experienced attorney to discuss your situation. Chapter 7 bankruptcy may be an option for you.
Ready for a Fresh Start?
At the law office of Patrick J. Conway, LLC, in Cincinnati and Northern Kentucky, I help people burdened with debt take action to improve their future. Using my 30 years of experience as a Cincinnati Chapter 7 bankruptcy attorney, I will advise you about your options and help you make sound decisions that will give you a fresh financial start.
Many people ask how much debt they need before they can file bankruptcy. I tell them if they are having any trouble off their debt, it's time to see a bankruptcy lawyer. Contact my Cincinnati, Ohio, bankruptcy law office to discuss your case.
What Exactly Is Chapter 7 Bankruptcy?
If creditors are suing you or harassing you, filing bankruptcy brings immediate protection from your creditors. Anyone who attempts to collect from you after the bankruptcy petition has been filed violates federal law. There is no better way to protect yourself from creditor lawsuits or stop creditor harassment.
Chapter 7 bankruptcy, also called "straight" or "liquidation" bankruptcy, allows you to get rid of debts without requiring you to pay them down with a repayment plan. Chapter 7 bankruptcy discharges most forms of unsecured debt, such as:
- Credit card bills
- Medical expenses
- Personal loans
- Utility bills
- Payday loans
- Repossession of vehicles
There are some debts that Chapter 7 does not discharge, such as child support arrearages, tax debt and student loans. In some cases, you will need to sign a reaffirmation agreement for secured loans for property that you want to keep, such as a house or car loan.
Will a Chapter 7 Bankruptcy Filing Affect My Credit Score?
While filing for bankruptcy will temporarily affect your credit, you will find that your credit score may significantly improve over time. Once your bankruptcy is complete, you no longer carry a heavy load of debt and the problem of late or missed payments. With a more positive debt-to-income ratio, most of my clients' credit scores increase 60-100 points within a year of filing bankruptcy.
For more information about the benefits of Chapter 7, check out these articles:
- When Foreclosure Threatens: Can You Afford to Keep Your Home?
- Which Business Debts Are Discharged in Chapter 7 Bankruptcy?
- What Bankruptcy Can and Cannot Do
Ready for a Fresh Start? Call for a Free Initial Consultation
To discuss if Chapter 7 bankruptcy is right for you, or if Chapter 13 bankruptcy is a better option, contact me, a Hamilton County debt relief and bankruptcy attorney, or call my office at 513-924-4517 to schedule a free initial consultation.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
