Consumer Bankruptcy Lawyers in Cincinnati, Ohio

Find the right Consumer Bankruptcy attorney in Cincinnati, OH

Bankruptcy is a court proceeding which lets a person or business have some or all of their debts discharged. It should usually only be considered as an option of last resort, because it can have significant long-term consequences, even if it can stave off financial disaster. This means that the costs and benefits need to be carefully considered before filing. Since it's a creation of federal law, bankruptcy is handled in federal courts. Therefore, the rules and procedures governing it in Ohio will be the same as everywhere else in the country. Individual courts in Cincinnati, Ohio will have some unique rules, however, so you should consult with a local lawyer before you file.

Chapter 7 Bankruptcy in Cincinnati, Ohio

There are 2 common types of consumer bankruptcy in Cincinnati, Ohio: Chapter 7 and 13. Chapter 7 bankruptcy involves a liquidation of some of the debtor's assets, which pays off part of his or her debt. Once this is done, the remaining debt is discharged. Fortunately for debtors, many forms of property are exempt from liquidation, including homes, vehicles, essential personal items, and retirement accounts.

Once all non-exempt assets are sold, and the money from the sales turned over to the creditors, most remaining debt is discharged. But some forms of debt cannot be discharged through Chapter 7 bankruptcy. These include child support payments, student loans, and criminal fines, among others. If most of your Cincinnati, Ohio debts are not dischargeable, you may want to consider options other than bankruptcy.

Chapter 13 Bankruptcy in Cincinnati, Ohio

In Cincinnati, Ohio, Chapter 13 is quite different from Chapter 7. Chapter 13 may or may not be the best choice for you; this depends on the facts of your particular situation. Chapter 13 Bankruptcy involves a court setting up an altered payment plan, which allows the debtor to pay off most or all of his debts over a longer period of time, through monthly payments that should, assuming that the debtor is willing to make a few sacrifices, be manageable.

Which Type of Consumer Bankruptcy Should I File in Cincinnati, Ohio

The answer to this question depends strongly on your individual situation. If you have enough stable income to manage a payment plan, and a lot of non-exempt property that you are unwilling to part with, Chapter 13 may be a good option. If you don't have much stable income, and most of your property is exempt, Chapter 7 might be better.

Whatever your situation, you should speak with a local Cincinnati, Ohio bankruptcy lawyer. Your attorney will be able to advise you of your options and their likely consequences, which will help you make a more educated decision.

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Life in Cincinnati

Cincinnati is the county seat of Hamilton County, Ohio. It has a population of over 333,000 which makes it the third-largest city in Ohio (behind Columbus and Cleveland).

In the early 19th Century, when the U.S. was rapidly expanding westward, Cincinnati became the first "boomtown" (a community that experiences sudden and massive population and economic growth) in what was then the western frontier to rival the more-established cities of the East Coast in size and wealth.

Before railroads were common, steamboats which traveled along the country's larger rivers were the predominant method of mass transport. Cincinnati, being near the Ohio River, was a major transportation hub. However, when railroads became more predominant, Cincinnati's importance in the transport industry waned, and it was quickly surpassed in population by nearby cities, such as Chicago.

Modernly, Cincinnati, Ohio is no economic slouch, and hosts headquarters or major satellite offices of many large, multinational corporations, such as Macy's, Proctor and Gamble, and The Kroger Company (a large supermarket chain, and parent company of a few smaller, regional chains).

Being a relatively large city, there are plenty of lawyers in Cincinnati, Ohio who can handle just about any legal problem that can possibly come up. While no single lawyer can handle every type of case, there are enough specialized Cincinnati, Ohio lawyers that there's at least one who can handle yours.

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