Consumer Bankruptcy Lawyers in Hamilton, Ohio

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

Chapter 7 Bankruptcy in Hamilton, Ohio

In Hamilton, 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 all non-exempt assets are sold, and the money from the sales turned over to the creditors, most remaining debt is excused. 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 Hamilton, Ohio debts are not dischargeable, you may want to consider options other than bankruptcy.

Chapter 13 Bankruptcy in Hamilton, Ohio

In Hamilton, 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 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 arrangements that gave rise to the debt in the first place. This results in an adjusted 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 Hamilton, Ohio

Chapter 13 is typically a good option for people who have a stable income, and a large amount of non-exempt property that they can't part with. On the other hand, if most of the debtor's property is exempt, and he or she does not have a stable income, Chapter 7 might be more beneficial.

Of course, you should always seek the counsel of an accomplished local Hamilton, Ohio bankruptcy attorney before you make the decision to file. He or she will be able to advise you of your options, and suggest the best possible course of action for your specific situation.

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Life in Hamilton

Hamilton is located in Butler County, Ohio. It is in the southwest region of Ohio, with an approximate population of 62,447 people. Its nickname is the "City of Sculpture," because there are many sculptures in the city. In fact, one of the most popular attractions is Pyramid Hill Sculpture Park, a beautiful park filled with many sculptures.

Many famous people have called Hamilton home. These residents, both past and present, include William Allen, Ray Combs, Aaron Cook, Greg Dulli, Mark Lewis, John Martinkovic, Dean Miller, Jim Tracy, Roger Troutman, Brandon Underwood, E.J. Underwood, Steven J. Morese, Jimmy Wynn, and Steve "Dandy" Brown.

Hamilton is also home to many attorneys who practice in various areas of law. These attorneys focus on providing excellent, as well as personalized, legal services. Therefore, no business or residents' legal inquiries will remain unattended to in Hamilton.

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