Consumer Bankruptcy Lawyers in Fairfield, Ohio

Find the right Consumer Bankruptcy attorney in Fairfield, OH

Bankruptcy is a court proceeding which lets a person or business have some or all of their debts excused. It should typically 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. Distinct courts in Fairfield, Ohio will have some unique rules, however, so you should consult with a local lawyer before you file.

Chapter 7 Bankruptcy in Fairfield, Ohio

In Fairfield, Ohio, there are 2 typical types of commonly-used consumer bankruptcy: Chapter 7 and Chapter 13. Chapter 7 bankruptcy involves liquidation of some of the debtor's assets. It requires some percentage of the debtor's property to be sold in order to pay off as much of his or her debt as possible. However, the majority of property that most people own is exempt. This typically includes homes, vehicles, insurance policies, and retirement accounts. These do not have to be sold.

Once eligible assets are sold, and the proceeds turned over to the creditors, most remaining debt is absolved. However, some forms of debt cannot be discharged in bankruptcy, including student loans, taxes, child support, personal injury awards, and fines. If most of your debt in Fairfield, Ohio is not dischargeable, you may want to consider other options besides bankruptcy.

Chapter 13 Bankruptcy in Fairfield, Ohio

In Fairfield, Ohio, chapter 13 is extremely different from Chapter 7, and may or may not be the best option for you, depending on your situation. Chapter 13 Bankruptcy involves a court setting up a revised payment plan, which allows the debtor to pay off most or all of his debts over an extended 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 Fairfield, Ohio

This depends entirely on the facts of your specific case. If you have a decent amount of stable income, and a large amount of non-exempt property which you don't want to part with, Chapter 13 may be the best option for you. If most of your property is exempt, and you don't have much stable income, Chapter 7 might be the best option.

In any case, you should talk with a local Fairfield, Ohio bankruptcy lawyer. Your lawyer can advise you of your options and inform you of their likely result. This will make it much easier for your to make an informed choice.

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Life in Fairfield

Fairfield, Ohio is a city that straddles Butler and Hamilton counties. It has a population of about 43,000 people. The area currently known as Fairfield was originally settled in 1877, by the Groh family. It was born out of a 50 acre land purchase in Fairfield Township. Modernly, Fairfield is a relatively quiet residential community. Since 2001, it has had a modern, central, "downtown" area, in the form of the Village Green Park development project. It serves as a commercial center with many pedestrian-accessible dining and shopping options. In the last decade, Fairfield, Ohio has undergone significant redevelopment, which was capped of with the completion of a community arts center, along with a new public library. Fairfield is home to the Cincinnati Mall, a large shopping center, as well as "Jungle Jim's International Market," which is something of a theme park for food, and sports a wide variety of international foods, as well as elaborate animatronics displays. If you live in the Fairfield, Ohio area, chances are good that you'll be able to find a lawyer who's qualified to handle whatever legal problem you might be facing. Fairfield, Ohio lawyers are skilled and competent, and like most lawyers, care about their clients' problems. It's almost certain that, no matter what your legal problem is, there's at least one Fairfield, Ohio lawyer who can handle it.

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