Graham & Associates Law Offices, LLC | ohioattorneynow.com Serving all of Northeast Ohio

April 2014 Archives

Ohio company bought out of bankruptcy

The word "bankruptcy" may leave a bad taste in some people's mouths or even carry with it the negative connotation of failure. While bankruptcy may not be the most ideal situation to find yourself in, it is vastly preferable to crushing debt. Bankruptcy exists to save people from insurmountable debt by affording them debt relief depending on the type of bankruptcy they file. Of course, once you've managed your debt through bankruptcy, anything could happen after your fresh financial start.

America's average credit card debt remains high

Student loans, mortgages, late fees and interest rates all can amass to large debt, but where does all this debt consolidate? For many people in Ohio and throughout the U.S., payments toward debts are made using credit cards. While credit cards are useful tools that allow people to purchase things that they can pay off later, the numbers eventually add up if regular payments are not made, and the reality can be frightening for many people.

Bankruptcy can be a safer alternative to payday loans

It’s no secret that the United States economy has been in a slump over the last several years. While the economy does seem to be improving slowly, there are still many people who need some form of debt relief or financial assistance to pay off student loans or mortgages. An effective form of legal debt relief can be found in bankruptcy filings such as Chapter 13 bankruptcy. Some people may try to take a seemingly quicker and easier way out in the form of payday loans, but these individuals may become trapped in a cycle of endless debt.

Debt relief can allow you to focus on student loans

A growing problem in our country concerns current and future American generations. Some Ohio residents may personally be feeling the strain of the countrywide rise in student loan debts, which now total approximately $1 trillion spread amongst almost 37 million American citizens. This is particularly problematic because there are very few debt relief options available to help.