Under current bankruptcy law, most student loans cannot be discharged in bankruptcy. In the 1970s this law applied only to federal student loans, serving as a protection for the federal government for when it invests in higher education. In 2005, the…
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If you are thinking of buying a foreclosure in Ohio, you may be in for a big discount. RealtyTrac, a market researcher for the real estate industry, reports that Ohio and Illinois tied for one of the largest discounts on these homes, averaging a 41 p…
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By some estimates, over 1.2 million Americans will file for personal bankruptcy in 2012. Most file for obvious reasons: loss of a job, health care bills, divorce, long-term unemployment. However, the process and consequences of bankruptcy can be conf…
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With such a terrible economy, it is no surprise that many people are struggling financially. Unexpected events such as a job loss or sudden illness can cause even the most responsible people to fall behind on their bills. Many people struggling with…
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Increasingly, older residents are running up debt simply trying to survive. According to The New York Times, many retirees are resorting to high-cost pension advances to pay down credit card debt incurred for everyday living expenses. In many cases,…
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In addition to providing a fresh financial start, a Chapter 7 bankruptcy will also generally act as an injunction-a stop or prohibition-against actions to collect most debts, including harassment by bill collectors. The United States Bankruptcy Appel…
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A recent Gallup poll indicates that American consumers are using credit cards less than they have in over a decade. Unfortunately, however, overwhelming credit card debt remains an everyday reality for many people in Ohio and throughout the United St…
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Although garnishment is unpleasant, it can largely be avoided in bankruptcy. If you are delinquent on your bills, one of the ways that creditors can force you to pay is to garnish your wages. Garnishment is a process where a court orders your employe…
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Paying off debts with retirement assets instead of filing bankruptcy can worsen your financial situation. If you are behind on your bills, regardless of the reason, you may be tempted to look to other sources of funds to stave off bankruptcy. For man…
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Ohio residents may be interested in how a creditor could legally collect on a debt when there is no property securing that debt. While it may take a trip to the courthouse, a judgment against the debtor could cause serious trouble if not addressed. T…
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