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What’s the Difference between Chapter 7 and Chapter 13 Bankruptcy in Ohio?

Both Chapter 7 and Chapter 13 are personal bankruptcies that will eliminate most debts or bills such as credit cards, medical bills, personal loans, utility bills, and items that are in collections.  You can also eliminate evictions, repossessed vehicles, foreclosed homes, reinstatement fees with the BMV, attorney fees, and some tax debt.  Most debts are eliminated.  The debts you have to pay back no matter if you file a Chapter 7 or Chapter 13 bankruptcy in Ohio are student loans and domestic support obligations such as child support or spousal support.  Typically in a Chapter 7 bankruptcy is where you don’t have to pay back unless you chose to continue making vehicle or mortgage payments if someone selects to keep a house or car.  Chapter 13 bankruptcy is where you do have to pay back, but the payment is based on your income and expenses.  Filing a Chapter 13 bankruptcy is like a debt consolidation through the Federal government except there is no interest and you only pay back pennies on the dollar.  Each bankruptcy has their own unique benefits.  To determine what type of bankruptcy you qualify for and which one would be in your best interest call 614-934-1544 to schedule a free consultation with an experienced bankruptcy attorney in Columbus, Ohio. Help is just one phone call away! 614-934-1544

What is a Chapter 7 Bankruptcy?

Chapter 7 bankruptcy is what most people envision of when they think about bankruptcy.  Filing Chapter 7 bankruptcy will eliminate most debts where you don’t have to pay back.  The debts that you CAN eliminate are credit cards, medical bills, personal loans, utility bills, collection accounts, evictions, repossessed vehicles, foreclosed homes, reinstatement fees, and some tax debt.  If you are struggling to make minimum payments on your bills, having trouble getting financed, or have an abundant amount of debt you know that you cannot pay off in a reasonable amount of time filing Chapter 7 bankruptcy may be the best option for you. The Law Office of M. Sean Cydrus can determine your eligibility of filing a Chapter 7 bankruptcy in Ohio and can also explore other options that may be beneficial.  Call 614-934-1544 for more information or to schedule a free consultation. Help is just one phone call away! 614-934-1544

What is a Chapter 13 Bankruptcy?

If you are struggling to make minimum payments on your bills, you have probably thought about consolidating your debt so that you can make one payment each month that you can afford. The only true debt consolidation is getting a personal loan from the bank or filing a Chapter 13 bankruptcy. Filing a Chapter 13 bankruptcy will enable you to make a payment you can afford each month that is disbursed to your creditors to pay off your debt. Filing a Chapter 13 bankruptcy will give you protection under the Federal government unlike debt consolidation companies you hear about on television or the radio. By filing a Chapter 13 bankruptcy, you may also pay pennies on the dollar on your debts. That means that you may not have to pay back the total amount of debt owed and there is no interest. If you are struggling to make minimum payments on your debts, have an abundant amount of debt you know you can’t pay off in a reasonable amount of time, or trying to resolve a difficult financial situation such as a lawsuit, foreclosure vehicle repossession, or wage garnishment bankruptcy may be the best option for you.  Call 614-934-1544 to schedule a free consultation with an experienced bankruptcy attorney that cares about you that can help. Help is just one phone call away! 614-934-1544

Ways Filing Chapter 7 or Chapter 13 Bankruptcy Can Help You and Your Family

  • Get a Fresh Start by Eliminating Most Debts Owed
  • Cease or Stop All Creditor Collection Efforts Against You
  • Stop a Lawsuit From Beginning or Continuing
  • Stop a Wage Garnishment
  • Stop a Foreclosure / Sheriff Sale
  • Stop a Vehicle Repossession
  • Get a Vehicle Back From Repossession
  • Lower Interest Rate for Vehicle Loan
  • Lower Total Balance on Vehicle Loan to Fair Market Value
  • Stop a Utility Disconnection
  • Get Driver’s License Back From Suspension
  • Restore and Rebuild Credit
  • Help Get Financed For a Vehicle
  • Help Get Approved for an Apartment
  • Stall an Eviction

How Do I Know Which Bankruptcy is Right for Me?

There are many factors that determine your eligibility for filing a Chapter 7 or Chapter 13 bankruptcy in Ohio.  Both bankruptcies have their own unique benefits and at the same time both bankruptcies have certain requirements for qualification purposes.  Some of the factors that determine your eligibility for filing bankruptcy include income, expenses, equity in assets, and prior bankruptcy filings.   Speaking with an experienced bankruptcy attorney at a free consultation would be an excellent way to determine your eligibility for filing bankruptcy and too find out which type of bankruptcy would be best for you.  Call 614-934-1544 to schedule a free consultation with an experienced bankruptcy attorney that cares about you that can help.  Help is just one phone call away! 614-934-1544

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

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