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February 2014 Archives

Chapter 7 bankruptcy can wipe away debt

Nobody wants to see their business fail. Business owners invest their lives into something, and they understandably do all that they can to prevent it from going under. Unfortunately, if the business starts to fail, owners may find themselves struggling with debt. As these financial challenges become more and more overwhelming, owners may be left with no option but to file for bankruptcy.

Ohio House passes bill weakening consumer protection

Life is full of expenses, and it can be all too easy to run into debt. Interest rates on loans and credit cards are often high, and before long, you can find yourself with a seemingly insurmountable problem. Debt settlement companies may appear to be a tempting solution in the face of credit card debt and other such difficulties. However, even these solutions can demand excessive monthly fees that can compound the problem even further. A recent bill passed by Ohio's General Assembly, and awaiting a decision from the Senate, has the potential to affect legislation surrounding the obligations of these settlement companies directly.

Personal bankruptcy may offer significant debt relief

Being burdened by significant debt can become immensely stressful, and it is capable of diminishing a person's capacity to enjoy everyday activities. Constant pressure from collection agencies can make you feel threatened, and it is incredibly taxing to live in fear of losing a vehicle, home or other possessions. Many Ohio residents struggle with debt from car payments, medical bills, student loans and credit cards.

House bill is important for Ohio residents in credit card debt

An Ohio state representative is sponsoring a bill that aims to help people who use debt-settlement institutions for debt relief. Financial challenges such as credit card debt, bankruptcy, unemployment and foreclosure have, unfortunately, afflicted many Ohio residents during these harsh economic times. Many Ohioans have found themselves utilizing debt settlement options in an effort to gain a fresh financial start. Some of those same people have had serious complications with various debt-settlement companies which led to a 2008 investigation of the industry by the Federal Trade Commission.