Cincinnati Chapter 7 Bankruptcy Attorney
Wipe Out Debt. Reclaim Peace of Mind.
If you’re overwhelmed by credit card bills, medical debt, or personal loans and don’t see a way forward, Chapter 7 bankruptcy may offer the fresh start you need. We work hard to secure your legacy and protect your peace of mind by guiding individuals and families through the Chapter 7 process with clarity, compassion, and skill.
What Is Chapter 7 Bankruptcy?
Chapter 7 bankruptcy is a legal process that allows individuals or businesses to eliminate most or all of their unsecured debts and get a fresh financial start. It is often referred to as “liquidation bankruptcy” because it may involve selling non-exempt assets to repay creditors. However, in many cases, people filing for Chapter 7 are able to keep most – if not all – of their property due to exemptions provided under federal or state law.
Key Features of Chapter 7 Bankruptcy:
- Debt Discharge: Most unsecured debts, like credit card balances, medical bills, payday loans, and utility arrears, are wiped out (discharged) in a successful Chapter 7 case.
- Fast Relief: The process is relatively quick, typically taking 3 to 6 months from filing to discharge.
- Automatic Stay: Once you file, an automatic stay immediately goes into effect. This halts collection actions such as lawsuits, wage garnishments, and harassing phone calls from creditors.
- Means Test Requirement: To qualify, you must pass a “means test,” which assesses your income and expenses to ensure that Chapter 7 is appropriate for your financial situation.
- Non-Exempt Assets: In rare cases where valuable non-exempt property exists, a bankruptcy trustee may liquidate those assets to pay creditors. Most filers, however, retain all essential belongings.
Who Should Consider Chapter 7?
Chapter 7 may be a good option if:
- You’re overwhelmed by unsecured debts and can’t reasonably repay them.
- You have little to no disposable income after covering basic living expenses.
- You want a relatively quick resolution to your financial difficulties.
It is not suitable for eliminating certain types of debts, such as most student loans, recent taxes, child support, or alimony.
Chapter 7 bankruptcy—often called “liquidation bankruptcy”—is designed to eliminate most unsecured debts.
It allows eligible individuals to discharge debts like:
- Credit card balances
- Medical bills
- Payday loans
- Utility arrears
- Personal loans
In many cases, you can keep your home, car, and other essential assets thanks to exemptions allowed under federal or state law.
Qualifying for Chapter 7 Bankruptcy
To qualify for Chapter 7 bankruptcy, you must pass the Chapter 7 means test. Basically, this test determines whether you make too much money to file for bankruptcy. We’ll walk you through a means test to determine if you qualify and explore any alternatives that might better suit your financial goals.
What is an Automatic Stay?
The bankruptcy court will issue an automatic stay immediately after your Chapter 7 bankruptcy filing. Basically, this automatic stay will prevent:
You must be current on or be able to reaffirm secured debts, such as your mortgage or car loan, in Chapter 7. Otherwise, secured and unsecured creditors can continue to harass you for unpaid bills. As a result, you could risk foreclosure or having your car repossessed. Our law firm will explain your rights in clear, easy-to-understand terms, so you always know what to expect.
What You Can Expect From Us
At Herzner Law, we work to secure your legacy and provide you with peace of mind.
With our firm, you’ll get:
- A personalized consultation
- Step-by-step guidance through the filing process
- Protection from creditor harassment via the automatic stay
- Peace of mind from knowing your rights are protected
Our goal is to help you achieve lasting debt relief with minimal stress.
Contact A Chapter 7 Bankruptcy Lawyer Today
If you’re drowning in debt and filing bankruptcy feels like your only option, you need an experienced Chapter 7 bankruptcy attorney on your side. Our bankruptcy lawyers have extensive knowledge of Ohio bankruptcy laws. If you’re struggling with debt, consulting a bankruptcy attorney is the best way to determine if Chapter 7 is right for you and to explore other possible options.
Let us help to secure your legacy and protect your peace of mind – contact our office today to begin planning for your future.