Cleveland Bankruptcy FAQ
Can I file for bankruptcy on my own?
Filing for bankruptcy on your own is also known as filing pro se. While you can file for bankruptcy on your own it is not advised due to the potential long-term consequences of doing so. Filing both Chapter 7 and Chapter 13 bankruptcies take a lot of preparation, work and expertise in bankruptcy law. If you misunderstand the law or make any mistakes in filing for bankruptcy, you may negatively impact your outcome. For most people and in most situations, it pays to hire a qualified bankruptcy attorney.
How much does it cost to file bankruptcy?
Cost is dependent on the type of bankruptcy you file. Chapter 7 bankruptcy can range anywhere from $1,000 to $3,000, depending on how complicated the abruptly is and the amount of work involved. Chapter 13 bankruptcy is generally $3,000 or more because of the complexity of Chapter 13 bankruptcies and the greater amount of time spent by the bankruptcy attorney compared to Chapter 7.
Can I file bankruptcy for free?
I explore this topic a bit more in my blog post, “How To File Chapter 7 with No Money?” but it’s not a simple, straight-forward question. It really depends on your financial situation as to whether or not you are able to file for bankruptcy for free. Some people in the lowest income brackets may be able to qualify.
Feel free to contact me if you have any questions about this and I can help you understand your situation better. I offer free, no-obligation consultations to all clients and handle all phone calls personally.
How long does it take to file for bankruptcy?
A bankruptcy petition can be expedited to fit your situation. Some clients have time-sensitive scenarios involving late car payments and potential repossession, or missed mortgage payments and the threat of foreclosure. In these situations, timing is critical and Jon Ginter will prioritize the filing of your case.
In other scenarios, bankruptcy planning and careful strategizing are paramount. Here, Jon Ginter will work with you and personally advise you throughout your case in order to maximize property retention and minimize any loss of assets or income to an appointed bankruptcy trustee.
Do you get out of all debts if you declare bankruptcy?
It depends on the type of bankruptcy you decide to file (Chapter 7, Chapter 13, Chapter 12, etc.). In general, however, not all debts are discharged in a bankruptcy. The types of debts that are not dischargeable in bankruptcy are outlined in the Bankruptcy Code, Section 523.
What’s the difference between Chapter 7 and Chapter 13 bankruptcy?
Chapter 7 wipes out most of your debts in 120 days, while Chapter 13 is a 3- to 5-year payment plan where you pay back part of your debt and the rest is eliminated. Chapter 7 is a good fit for many individuals, but Chapter 13 provides unique benefits that make it a better option in a lot of cases.
Is it better to file a Chapter 7 or 13 bankruptcy?
Ultimately, it depends on your individual financial situation. Chapter 13 offers some unique benefits for some individuals. For instance, if you have property you want to keep, need additional time to pay down your debt, fall behind on car payments, etc., Chapter 13 may be a better option for you.
What happens to student loans in Chapter 7 bankruptcy?
For most individuals, student loans will not be discharged in a Chapter 7 bankruptcy. In some situations where you can prove that the student loans “impose undue hardship on you and your dependents,” then student loans can be discharged. However, even in cases where undue hardship can be proven, you may only receive a partial discharge or a different type of repayment plan on your student loans.
I explore this topic more in-depth in my article, “Student Loan Debt and Bankruptcy in Cleveland” as well as the “Student Loan Debt” section of this website.
Does bankruptcy hurt my credit?
Most of my clients have bankruptcy scores near 500 when they start looking at bankruptcy as an option. In these cases, a Chapter 7 bankruptcy along with at least one year of responsible credit usage has improved these credit scores by approximately 100 points. For individuals with scores of 600 or more, bankruptcy can hurt these credit scores. However, in these cases, if they are already suffering from credit problems and unable to their bills, it is only a matter of time before their credit score plummets.
How long does bankruptcy stay on your credit report?
Chapter 7 bankruptcy stays on your credit report for 10 years. A Chapter 13 bankruptcy will stay on your credit report for only seven years.
Can I file bankruptcy and keep my house?
Most of the time there is no danger of losing your house in bankruptcy. In March of 2013, Ohio law was amended to allow each person filing bankruptcy to keep up to $125,000 in home equity, which is defined as the value of your home minus what you owe on it. In the rare case when your house is an issue, you have a couple of options. You can let the house go, attempt to negotiate a payment plan with the bankruptcy trustee (easier said than done), or give up on filing bankruptcy. You may also be able to do a Chapter 13 bankruptcy, a 3-to-5-year payment plan that lets you keep all your property and results in a full elimination of most debts.
How do I find the best bankruptcy attorney in Cleveland?
Finding the best bankruptcy attorney involves a few things. For one, you want to make sure that the attorney has good reviews online on reputable sites like AVVO and Martindale-Hubble. Next, you want to be sure that the bankruptcy lawyer specializes in bankruptcy law only.
Lastly, you’ll want to contact the bankruptcy lawyer and see how you connect with him or her on a personal level. If you feel the attorney is trustworthy and communicates openly and honestly with you, this is a good sign.
If you’re looking for the best bankruptcy lawyer in Cleveland, you’ve already found one of the best. Jon Ginter has over 17 years of experience and has filed over 2,000 bankruptcies in Cleveland.
Click here to speak to Jon Ginter now.
Why should I choose Jon Ginter as my bankruptcy attorney?
1) When you call my office, I answer the phone personally, not a secretary or a paralegal.
2) You only deal with me throughout your entire case, I don’t hand your case off to a junior assistant.
3) Bankruptcy is my speciality, it’s all I do and I’m experienced. In fact, I’ve personally handled over 2,000 bankruptcy cases.
4) I’m passionate about helping you. I originally wanted to do social work and ended up as a bankruptcy attorney in order to help people in financial distress. I don’t begrudgingly take clients, I love my clients and want to see them get the help they deserve.