Ohio Bankruptcy | Attorney Lawyer
Bankruptcy Attorney, Bankruptcy Lawyer, Ohio Bankruptcy | Attorney Lawyer
Filing for bankruptcy is an extremely stressful, daunting choice that millions of Americans confront each year due to overwhelming healthcare expenses, unemployment, divorce, or even natural disasters (e.g., floods, earthquakes or hurricanes). Given the intricacies of Ohio bankruptcy laws, as well as the fact that closing bankruptcy cases can take up to five years for more complex situations, securing the services of an Ohio bankruptcy attorney is critical to achieving the most favorable outcomes to these cases.
The skilled Ohio bankruptcy lawyers at Wright & Schulte LLC are dedicated to standing up for the rights of those who have been crippled by debt. Our compassionate team of experienced professionals understands how difficult and trying a bankruptcy can be, and we are committed to helping our clients get out of debt as painlessly as possible so they can focus on rebuilding and moving on with their lives. Those who are considering filing for bankruptcy in Ohio are welcome to receive a complimentary, no obligation evaluation of their case – along with professional advice on how to proceed – with the experienced bankruptcy attorneys at Wright & Schulte LLC.
U.S. and Ohio Bankruptcy Statistics
In 2011, approximately 1.3 million U.S. debtors filed for personal bankruptcy. While this represents an 11 percent decrease from U.S. bankruptcy filings initiated in 2010, nearly 30 percent of the 2011 bankruptcy cases involved individuals who have previously filed for bankruptcy.
Similar to recent trends in nationwide bankruptcy cases, Ohio bankruptcy statistics indicate that statewide filings are down from about 66,000 to 54,000 – roughly 18 percent – from June 2010-2011 to June 2011-2012. Despite this promising trend, however, Ohio ranks within the top 20 in regards to states with the highest per capita rate of bankruptcy filings as of March 2012.
Chapter 7, Chapter 13, and Chapter 11 Ohio Bankruptcy Cases
Bankruptcy is a matter that falls under U.S. Federal jurisdiction; however, Ohio bankruptcy laws play a key role in governing the legitimacy of claims and possible exemptions for both personal and business-related debt. Depending on the circumstances of a particular case, bankruptcy can be filed in accordance with any one of six different “Chapters,” the most common of which include the following:
- Chapter 7, also referred to as straight bankruptcy, is the most common form of bankruptcy, as it accounted for about 70 percent of all personal U.S. bankruptcy filings in 2011.
- Chapter 7 bankruptcy in Ohio typically involves reducing non-exempt assets into cash in order to pay creditors while allowing the debtor to achieve a financial fresh start.
- Chapter 13 bankruptcy can be an alternative to Chapter 7 for those who have a source of income and/or debt that cannot be discharged, such as child support or taxes.
- Chapter 11 bankruptcy in Ohio is generally for businesses that intend to reorganize and keep operating in order to pay creditors.
Keep in mind, however, that there are bankruptcy alternatives – such as debt consolidation or debt negotiation – that can be more appropriate for specific cases, depending on the nature of the situation. The Ohio bankruptcy lawyers at Wright & Schulte LLC can advise individuals on their best options and help them move forward in order to resolve their debt complications in the most favorable manner possible.
Ohio Bankruptcy Help
If you are considering filing for bankruptcy in Ohio, don’t wait to learn about your options. The Ohio bankruptcy attorneys at Wright & Schulte LLC are here to support you. Our up-to-date knowledge of the Ohio bankruptcy process can help you avoid some of the nasty consequences of massive debt, such as:
- Garnishment of earnings
- Harassment from creditors
- Loss of property and/or utility services.
Call today for a FREE consultation and receive experienced advice from an Ohio bankruptcy lawyer at Wright & Schulte LLC. Please fill out the online form at the, right-hand side of this page or call us at (937) 435-9999.
Filing an Ohio Bankruptcy With Wright & Schulte LLC
The Ohio Bankruptcy lawyers at Wright & Schulte LLC encourage people facing financial distress to learn more about their legal rights and entitlements at no cost. Our dedicated bankruptcy professionals are passionate about helping people overcome with financial hardship and our extensive experience with Ohio bankruptcy litigation allows us to achieve the most favorable outcomes to these cases. Call today for a FREE consultation and receive experienced advice from an Ohio brain injury lawyer at Wright & Schulte LLC. Please fill out the online form at the right-hand side of this page or call us at (937) 435-9999