What Determines Whether You Can Keep Your Home? Several factors must be satisfied in order for you to keep your home once you file for Chapter 7 bankruptcy. If you are current on your mortgage payments and qualify to file for bankruptcy under Chapter 7, so long as your equity does not exceed the Ohio exemptions, and…Read more
Credit Counseling Requirements of Bankruptcy
What Are the Credit Counseling Requirements? The amendments to the Bankruptcy Code that became law in 2005 require everyone with primarily consumer debt to obtain two counseling certificates from approved credit counseling agencies. The first certificate is known as a “certificate of counseling.” You must obtain this certificate of counseling before your bankruptcy petition can…Read more
How Bankruptcy Cases Are Filed
In this video, the Administrative Office of the United States Courts describes how bankruptcy cases are filed, and some of the requirements after filing.
Limitations of Bankruptcy and Ways to Keep Property
In this video, the Administrative Office of the United States Courts explains the limitations of bankruptcy, including a discussion of the types of debts that may not be discharged, and procedures that may be used in bankruptcy to keep property.
Differences Between Chapters 7, 11 and 13
In this video, the Administrative Office of the United States Courts explains the differences between Chapter 7, Chapter 11, and Chapter 13 bankruptcy.
The Bankruptcy Process
The Administrative Office of the United States Courts has created a series of videos regarding bankruptcy. Here is the first video in the series, which explains the bankruptcy process.
What property can I keep if I file bankrupty?
Although bankruptcy is governed by federal law, the Ohio exemption laws determine in large part what property, or rights in property, that you can keep if you file bankruptcy. The exemptions are the same, whether you file for Chapter 7 or Chapter 13 bankruptcy. The exemptions will allow you to keep the following rights in…Read more
Can I Save My Home From Foreclosure If I File Bankruptcy?
If your mortgage company has filed foreclosure proceedings against you, you may still be able to save your home. Your mortgage company will tell you the amount that you must pay to get the foreclosure case dismissed. This amount can be substantial, and typically includes all the missed payments, late fees, attorney fees, and court costs. By…Read more
What happens to my income tax refunds if I file for Chapter 7 Bankruptcy?
Your right to receive an income tax refund is considered an asset on the date you file for Chapter 7 Bankruptcy. The Chapter 7 Trustee may take a pro-rata portion of the income tax refund you will receive from filing your next income tax return. For example, if you file for Chapter 7 on October…Read more
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