If you’re struggling with debt and considering bankruptcy, you may find that the process can be complex and challenging, especially if you’ve attempted other options without success. That’s where our Columbus bankruptcy attorney can help. Mike Christensen Law Offices can guide you through each step, help you understand your legal rights, and work to ensure the best possible outcome in your case. Whether you’re filing for bankruptcy for the first time or seeking advice on debt relief alternatives, a skilled attorney can provide the support and legal expertise you need to regain control of your financial future.
Our Experienced Columbus Bankruptcy Lawyers Can Help!
Our experienced Columbus bankruptcy lawyers are dedicated to helping individuals find relief from overwhelming debt. With years of experience handling bankruptcy cases, our attorneys have a deep understanding of the legal processes involved and are well-equipped to navigate the challenges of bankruptcy filings. We understand that dealing with financial hardship can be stressful, and we work tirelessly to ease our clients’ burdens, allowing them to focus on rebuilding their financial lives.
Understanding Bankruptcy Eligibility and Options
To qualify for bankruptcy, there are certain requirements based on your financial situation, debt level, and ability to repay. The two main types of consumer bankruptcy are Chapter 7 and Chapter 13. In Chapter 7 bankruptcy, your non-exempt assets may be sold to pay creditors, but most unsecured debts can be discharged. In Chapter 13 bankruptcy, you can reorganize and repay your debts over a period of three to five years, often with reduced payments.
Our attorneys can assess your financial situation to determine which type of bankruptcy or debt relief solution is best suited for you. We’ll explain each option in detail, including the potential benefits, drawbacks, and eligibility requirements, so you can make an informed decision.
Why Hiring a Bankruptcy Attorney is Crucial
The bankruptcy process is complex, and the chances of making errors are high. Having a knowledgeable bankruptcy attorney can make all the difference. Our attorneys can guide you through the process, help you understand your legal rights, and work to protect your assets and your credit.
Expertise in navigating the complex system – We know what documentation is necessary to file your case, how to handle creditor negotiations, and how to avoid common pitfalls that could jeopardize your bankruptcy.
Valuable support throughout the process – We’ll answer your questions, keep you informed about your case, and advocate on your behalf throughout the proceedings. We also provide guidance on managing your finances after bankruptcy.
Improved chance of a successful outcome – Studies show that individuals represented by attorneys are more likely to receive favorable outcomes in bankruptcy than those without representation.
Can Michael D. Christensen Law Offices Help Me With My Case?
Mike Christensen Law Offices is a trusted law firm in Columbus, Ohio, dedicated to helping clients overcome financial hardships. Our experienced bankruptcy attorneys have successfully handled numerous cases, helping clients obtain debt relief and move forward with their lives. Call us for a consultation!
Bankruptcy & Lawyer FAQs
What is bankruptcy?
Bankruptcy is a legal process that allows individuals or businesses to eliminate or restructure their debts when they cannot pay their bills. This provides a fresh financial start by either discharging unsecured debts (Chapter 7) or creating a repayment plan (Chapter 13) under federal law.
What is the difference between Chapter 7 and Chapter 13 bankruptcy?
- Chapter 7: Known as “liquidation” bankruptcy, it involves selling non-exempt assets to pay off creditors. Most unsecured debts, like credit card and medical bills, can be discharged, meaning they no longer need to be repaid.
- Chapter 13: Known as “reorganization” bankruptcy, it allows individuals with regular income to keep their assets and repay debts over three to five years through a court-approved repayment plan.
Will bankruptcy eliminate all of my debts?
Bankruptcy can discharge many types of unsecured debts, such as credit card balances, medical bills, and personal loans. However, certain debts, like student loans, child support, alimony, and most tax obligations, are typically not dischargeable in bankruptcy.
How will bankruptcy affect my credit?
Bankruptcy will have a negative impact on your credit score and can remain on your credit report for up to 10 years for Chapter 7 and seven years for Chapter 13. However, many people see their credit score gradually improve as they rebuild their financial health after bankruptcy.
Will I lose my home if I file for bankruptcy?
This depends on the type of bankruptcy and the equity in your home. Chapter 7 may involve selling non-exempt assets, including possibly your home if there’s significant equity, though many states have a homestead exemption to protect it. In Chapter 13, you can typically keep your home as long as you adhere to the repayment plan.
