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Ohio Bankruptcy Court

Ohio has always been known as a state of productive individuals. With eight presidents and twenty-four astronauts coming from the state, it seems as if even the sky is not the limit. This can do attitude has allowed many to run successful businesses and take risks that others would not. Even so, many of these risks do not pay off, leaving some Ohio residents under a large amount of debt that seems to never get any smaller.

Ohio has made sure to put safeguards in place, so that individuals and businesses have the opportunity to reach a favorable solution if they are unable to pay off debt. The state offers bankruptcy protection for any resident or business that qualifies. This could mean full liquidation of your assets or placement on a payment schedule, enabling you to pay off your liabilities over a longer period of time.

Even with this ability to file for bankruptcy, it is a complex, lengthy and difficult process that requires a great deal of time and effort to ensure that it goes smoothly. That is why having a qualified Cincinnati bankruptcy attorney at your side is of paramount importance. An Ohio bankruptcy attorney will be able to guide you through each step, produce the relevant documents and make sure you proceed in the right direction, allowing you to move past this difficult moment in your life.

Bankruptcy Court in Cincinnati, Ohio

After hiring a bankruptcy attorney to represent them, many people ask the question, "why did I not do this sooner?" Although a standard question after beginning the process and realizing how much an attorney can do for you, it is not surprising to hear, considering the dreadful connotation that comes with the word bankruptcy. Many believe that bankruptcy is a social, professional and financial stigma, when in fact, it is simply a second chance.

If you feel as though you are unable to handle the debt that you have incurred and need to figure out what the best course of action may be, then contacting a capable bankruptcy attorney has the potential to make all the difference. Eric Steiden is an experienced Ohio bankruptcy attorney who is committed to the clients he serves and will take advantage of his extensive legal knowledge to make certain you are well taken care of.

Eric Steiden's personal philosophy includes always maintain a sense of integrity and honesty while playing by the rules. This has been proven through his solid reputation and the fact that his firm has never been audited, something that many other firms are unable to claim. He focuses directly on the numbers involved in your case, allowing him to accurately advise you and make sure that there will be no issues surfacing due to attorney error.

With over 30 years of experience serving Ohio residents, Steiden Law Offices is ready and willing to start work, so you can get rid of your unsustainable debt and move forward. To schedule a free consultation to go over your case with an attorney at one of the two Ohio office locations, call (888) 877-3328 or send an online message today. Steiden Law Offices proudly works with individuals throughout Hamilton County in Southern Ohio, including Cincinnati, Norwood, Forest Park, Blue Ash, Montgomery, and Reading, among many others.

Ohio Bankruptcy Court Information Center

• Bankruptcy Process in Ohio
• Ohio Bankruptcy Exemptions
• Bankruptcy Discharge in Ohio
• Ohio Bankruptcy Court Legal Resources

Bankruptcy Process in Ohio

Chapter 7 and Chapter 13 bankruptcy both have a similar process when it comes to filing. Although there are distinct differences between the two, much of the information that needs to be submitted is the same. A bankruptcy case begins by determining eligibility (learn more about the Ohio means test here) then proceeds by filing a petition with the bankruptcy court serving the area where the debtor has a domicile or residence.

Keep in mind the before the bankruptcy is filed, you must receive a credit counseling briefing from an approved non-profit credit counseling agency. Unless the court orders otherwise, the debtor must also file with the court:

• Schedules of assets and liabilities;
• A schedule of current income and expenditures;
• A schedule of executory contracts and unexpired leases; and
• A statement of financial affairs.

You will also need to provide the assigned trustee with a copy of your latest tax return. Individual debtors will also need to file:

• A certificate of credit counseling and a copy of any debt repayment plan developed through credit counseling;
• Evidence of payment from employers;
• A statement of monthly net income and any anticipated increase in income or expenses after filing; and
• A record of any interest the debtor has in federal or state qualified education or tuition accounts.

After your case is filed, you must complete your second counseling briefing. The second briefing is called the Debtor Education or Financial Management Briefing. This course is of an instructional nature and is tailored around managing your personal finances after bankruptcy.

Following this briefing, an impartial trustee will be appointed to monitor the case. This individual will be responsible for either selling assets and paying of creditors in a Chapter 7 filing, or will be setting up payment plans in order to satisfy debts and keep you property during a Chapter 13 filing.

If completed in a satisfactory manner, you will then receive your discharge. In Chapter 7 your discharge paper will arrive two to three months after you meeting with the trustee, whereas in a Chapter 13 filing, you will likely get your discharge after the debtor education briefing has been completed and you have made all the required payments in your plan. Once you have received your discharge, all your creditors are prohibited from ever collecting on the debt you eliminated in your bankruptcy.

Ohio Bankruptcy Exemptions

Just like every other state, Ohio has a list of exemptions that may be used during a Chapter 7 or Chapter 13 filing. Exemptions will determine how much you may keep in Chapter 7, or how much you must pay to certain creditors in Chapter 13. Ohio does not, however, allow you to use the federal bankruptcy exemptions, even though other states may do so.

As for the specific exemptions, Ohio Revised Code notes the following are allowed during a state bankruptcy filing:

• Homestead (real or personal property)
• Personal Property (burial plot, motor vehicle, bank deposits, household goods, jewelry, health aids, personal injury recoveries)
• Wages (minimum of 75% or disposable weekly earnings)
• Pensions (retirement accounts, public employees, police, firefighters)
• Public Benefits (workers compensation, crime victim's compensation, unemployment)
• Tools of Trade (tools, books, implements of trade)
• Alimony (child support)
• Insurance (benevolent society, group life, disability)
• Miscellaneous (business partnership property)

Bankruptcy Discharge in Ohio

A bankruptcy discharge releases the debtor from personal liability for certain specified types of debts. The discharge is a permanent order prohibiting your creditors from taking any form of collection action on discharged debts, including legal action and communications with you, such as telephone calls, letters, and personal contacts. The timing of the discharge varies, depending on the chapter under which the case is filed. In a Chapter 7 case, for example, the court usually grants the discharge about 3-4 months after the date the debtor files the petition with the clerk of the bankruptcy court.

In chapter 13 bankruptcy cases, the court generally grants the discharge as soon as practicable after you complete all payments under the plan. Since a Chapter 13 plan may provide for payments to be made over three to five years, the discharge typically occurs about four years after the date of filing.

Ohio Bankruptcy Court Legal Resources

United States Bankruptcy Court – Southern Ohio – The primary website for Cincinnati and surrounding area residents. It provides information on judges, locations, phone numbers, FAQs, means testing, filing and seminars.

United States Bankruptcy Court – Northern Ohio – This is the primary site for the U.S. Bankruptcy Court's Northern District of Ohio. It offers information on the roles and responsibilities of the court, along with resources on locations, phone numbers, judge information, research and relevant forms.

Steiden Law Offices | Hamilton County Bankruptcy Court

If you are currently considering filing for bankruptcy in Ohio, having capable legal counsel at your side will help make the process much simpler, allowing you to focus on getting your financial affairs in order so that you can keep moving forward in life. An attorney will handle all the requisite paperwork, protect you from creditor harassment, and make certain that you are on a path to achieving your financial goals.

Taking all of your individual factors into account, Eric will be able to offer a solution based on what is best for you. He is committed to every client he serves and is passionate about helping the people of Ohio continue to continue being one of the most productive populations in the nation. With two office locations in Cincinnati, the firm is a convenient option for Ohio residents.

To schedule a free and confidential consultation and go over the details of your legal financial issues, call (888) 877-3328 or send an online message today. Steiden Law Offices proudly represents individuals and businesses throughout South Ohio, including the cities of Springdale, North College Hill, Madeira, Cheviot and Wyoming, and nearby areas.