Consumer Bankruptcy Lawyers in Cleveland Heights, Ohio

Find the right Consumer Bankruptcy attorney in Cleveland Heights, 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 Cleveland Heights, Ohio will have some unique rules, however, so you should consult with a local lawyer before you file.

Chapter 7 Bankruptcy in Cleveland Heights, Ohio

There are 2 common types of consumer bankruptcy in Cleveland Heights, 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 Cleveland Heights, Ohio debts are not dischargeable, you may want to consider options other than bankruptcy.

Chapter 13 Bankruptcy in Cleveland Heights, Ohio

In Cleveland Heights, 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 does not discharge debt. Instead, it restructures it. This involves the bankruptcy court coming up with a new payment plan that supersedes the terms of the agreements that gave rise to the debt in the first place. This results in a new payment plan that the debtor should find manageable, if he or she can make a few sacrifices.

Which Type of Consumer Bankruptcy Should I File in Cleveland Heights, Ohio

Which Bankruptcy type to file under depends strongly on the facts of each individual case. If you have a stable stream of income (enough to make a payment plan manageable), and a large amount of non-exempt property that you don't want to part with, Chapter 13 may be best for you. If you don't have a stable income or large amounts of non-exempt property, you may be better off filing for Chapter 7.

Whatever your situation, you should speak with a local Cleveland Heights, 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 Cleveland Heights

Cleveland Heights, Ohio is a suburb of the larger city of Cleveland, the second-largest city in Ohio. It has a population of about 41,000 people, and is situated in Cuyahoga County.

Cleveland heights is mostly residential, and serves as a "bedroom community" for people who work in Cleveland, but want to live in the more quiet and spacious suburbs. Cleveland Heights has a thriving arts community, boasting galleries, theaters, art studios, and more. This makes it especially attractive for younger professionals who are beginning to settle down, but still want to live in a somewhat-cosmopolitan environment, and have easy access to a large city and all the trappings it entails. The city also has several swimming pools, outdoor markets, and an iceskating rink, for residents and visitors to enjoy.

Cleveland Heights, Ohio also has an attractive downtown shopping area, much of which is walkable. Cleveland Heights has a low crime rate for the region, and a relatively high median family income, compared with surrounding communities.

All in all, Cleveland Heights, Ohio is a good place to raise a family, especially if you or your partner work in Cleveland, but don't want to live in the heart of a major urban area.

There are plenty of Cleveland Heights, Ohio lawyers who can help you with whatever legal problem the average person is likely to face. And with the larger city of Cleveland very close by, your selection of lawyers in Cleveland Heights, Ohio is hard to beat.

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