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Buying a House after Filing Bankruptcy in Ohio

If you are not able to get financed for a house do to your credit, you may want to explore your options with filing for bankruptcy.   Many times the bank won’t sign off on the mortgage loan if there are unpaid balances lingering on your credit report.  The bank will often ask that all outstanding debts that are in collections or default be paid in full before they will consider financing a mortgage.  The situation can look grim if you have lawsuits, repossessions, evictions, or bills in collections on your record that are not satisfied or paid in full.  If you are not able to pay these outstanding debts then bankruptcy may be the only way to get your credit restored so that you can get financed.  If you are struggling to make minimum payments on your bills or having a hard time getting financed, we invite you to contact us for a free bankruptcy consultation. We take a personal approach to solving your financial challenges and never hesitate to act quickly when time is of the essence.  Help is just one phone call away! 614-934-1544

How Can Filing Bankruptcy in Ohio Help Me Purchase a House?

Filing bankruptcy in Ohio can help you purchase a house if you have bad credit or a large amount of unpaid debt.  What bankruptcy will do is eliminate the outstanding debts that bring down your credit score and will help your debt-to-income ratio since you then will be debt free.  You may consider filing bankruptcy if you have an abundant amount of debt you know that you can’t pay off in a reasonable amount of time or if you are struggling to make minimum payments.  Bankruptcy can help you restore your credit so that you have better financing options. An experienced bankruptcy attorney will be able to determine your eligibility to file for bankruptcy and can also help you explore other options that may be beneficial.  Call 614-934-1544 to schedule a free consultation with an experienced attorney that can help.

How Does Filing Bankruptcy in Ohio Affect My Credit?

Your credit is like the scales of justice.  On one side you have the bills or debts you are paying on.  On the other side are defaulted debts or bills that are paid late.  Whatever side is heavier, that is the direction your credit goes month after month.  Filing bankruptcy is like hitting the reset button.   Since after bankruptcy you will be debt free that means that anything you make payments on will bring up your credit score.  After bankruptcy your debt-to-income ratio will be better since you are debt free.  This helps tremendously because it shows the lender that you can afford the payments on whatever it is you are trying to get financed for rather it is a house or vehicle.

Call Today to Schedule a Free Bankruptcy Consultation With an Experienced Attorney Who Cares About YOU that CAN Help!

The Law Office of M. Sean Cydrus cares and can help you craft a plan to rebuild your financial future. We understand the stress of financial worry. We use a personal approach to solving your financial challenges and are here to help you through this difficult time. We pride ourselves on the ability to provide our legal expertise with compassion and understanding. We ensure that your rights are protected and never hesitate to take immediate action when time is of the essence. We can meet with you at our conveniently located offices in Columbus and Chillicothe. Call today for a free consultation! Help is just one phone call away! 614-934-1544