{"id":6493,"date":"2023-01-16T08:33:52","date_gmt":"2023-01-16T13:33:52","guid":{"rendered":"https:\/\/sheppardlawoffices.com\/?page_id=6493"},"modified":"2023-05-31T13:02:04","modified_gmt":"2023-05-31T18:02:04","slug":"chapter-7-eligibility","status":"publish","type":"page","link":"https:\/\/sheppardlawoffices.com\/bankruptcy\/chapter-7-eligibility\/","title":{"rendered":"Chapter 7 Eligibility in Columbus, OH"},"content":{"rendered":"
Filing for bankruptcy can be a difficult decision. Still, it can also be the best way to get out of overwhelming debt and regain control of your finances. One of the most common types of bankruptcy is Chapter 7, which allows individuals and businesses to liquidate assets and discharge certain types of unsecured debt, such as credit card debt and medical bills. But before you can file for Chapter 7, you must first determine if you are eligible. The process of filing for bankruptcy can be complex, but with the help of a skilled and <\/span>experienced bankruptcy attorney<\/span><\/a>, you can navigate the process with confidence.<\/span><\/p>\n Bankruptcy Attorneys have the knowledge and experience to guide you through the process and help you understand your rights and options under the bankruptcy code. Whether you are considering filing for Chapter 7 or Chapter 13 bankruptcy, or exploring alternatives like debt settlement, we will work with you to find the best solution for your unique situation.<\/span><\/p>\n <\/p>\n Here are some of the key reasons why you need a Chapter 7 bankruptcy attorney<\/span><\/p>\n Bankruptcy attorneys have the knowledge and experience to help you understand the bankruptcy code, navigate the process, and find the best solution for your unique situation. With their years of experience, they can help you protect your assets, and represent you in court to ensure you get the best outcome possible. If you need assistance, contact us to schedule a consultation now!<\/span><\/p>\n <\/p>\n Chapter 7 bankruptcy<\/span><\/a>, also known as “liquidation” bankruptcy, is one of the most common types of bankruptcy in the United States. It allows individuals and businesses to liquidate assets and discharge certain types of unsecured debt, such as credit card debt and medical bills. If you’re considering filing for Chapter 7 bankruptcy in Columbus, Ohio, it’s important to understand the basics of the process and how it can help you achieve debt relief.<\/span><\/p>\n <\/p>\n The first step in determining Chapter 7 eligibility is to take the <\/span>means test<\/span><\/a>. The means test compares your current monthly income to the median income for a household of your size in your state. If your income is below the median, you are generally eligible to file for Chapter 7. However, even if your income is above the median, you may still be eligible if you can prove that you have enough expenses to justify it. The means test takes into account your living expenses such as housing, food, transportation, and other necessary expenses.<\/span><\/p>\n Another important factor in determining Chapter 7 eligibility is the value of your assets. While some assets are protected by bankruptcy exemptions, others may be liquidated by the bankruptcy trustee to pay off creditors. However, if you have minimal assets and primarily unsecured debt, you will likely be able to keep most of your property and still be eligible for Chapter 7 bankruptcy.<\/span><\/p>\n It’s also worth noting that certain types of debt, such as student loans and taxes, are not dischargeable in a Chapter 7 bankruptcy case. If these types of debt make up a significant portion of your debt, Chapter 13 bankruptcy may be a better option for you.<\/span><\/p>\n Furthermore, the bankruptcy code has a provision that allows the court to dismiss a case if the debtor has had a previous bankruptcy discharge within the past eight years or if the debtor had a previous case dismissed for certain reasons.<\/span><\/p>\n <\/p>\n When facing overwhelming debt, filing for Chapter 7 bankruptcy may be a viable option for achieving debt relief. However, before filing for Chapter 7 bankruptcy, it’s important to understand the pros and cons of the process.<\/span><\/p>\n Pros:<\/b><\/p>\n Cons:<\/b><\/p>\n <\/p>\n Chapter 7 bankruptcy can provide significant debt relief for those who are struggling with unsecured debt, such as credit card debt, medical bills, and personal loans. However, it’s important to understand the pros and cons of filing for Chapter 7 and the eligibility criteria before making a decision. Consulting with a bankruptcy attorney can help you understand the process and evaluate whether Chapter 7 bankruptcy is the best option for you.<\/span><\/p>\n If you are considering filing for Chapter 7 bankruptcy in Columbus, Ohio, Sheppard Law Offices can provide you with a free consultation and help you determine if you are eligible for Chapter 7 bankruptcy and if it is the best option for you. We can guide you through the process and represent you in court to ensure you get the best outcome possible. <\/span>Break free from debt today<\/span><\/a> with the help of\u00a0 Sheppard Law Offices and have a fresh financial start.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" Filing for bankruptcy can be a difficult decision. Still, it can also be the best way to get out of overwhelming debt and regain control of your finances. One of the most common types of bankruptcy is Chapter 7, which allows individuals and businesses to liquidate assets and discharge certain types of unsecured debt, such […]<\/p>\n","protected":false},"author":10,"featured_media":5583,"parent":1417,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"_links":{"self":[{"href":"https:\/\/sheppardlawoffices.com\/wp-json\/wp\/v2\/pages\/6493"}],"collection":[{"href":"https:\/\/sheppardlawoffices.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/sheppardlawoffices.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/sheppardlawoffices.com\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/sheppardlawoffices.com\/wp-json\/wp\/v2\/comments?post=6493"}],"version-history":[{"count":3,"href":"https:\/\/sheppardlawoffices.com\/wp-json\/wp\/v2\/pages\/6493\/revisions"}],"predecessor-version":[{"id":6677,"href":"https:\/\/sheppardlawoffices.com\/wp-json\/wp\/v2\/pages\/6493\/revisions\/6677"}],"up":[{"embeddable":true,"href":"https:\/\/sheppardlawoffices.com\/wp-json\/wp\/v2\/pages\/1417"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sheppardlawoffices.com\/wp-json\/wp\/v2\/media\/5583"}],"wp:attachment":[{"href":"https:\/\/sheppardlawoffices.com\/wp-json\/wp\/v2\/media?parent=6493"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Why do I need a Chapter 7 Bankruptcy Attorney in Ohio?<\/span><\/h2>\n
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Overview of Chapter 7 bankruptcy<\/span><\/h2>\n
What is the Eligibility for Chapter 7 Bankruptcy?<\/span><\/h2>\n
What are the Pros and Cons of Chapter 7 Bankruptcy?\u00a0<\/span><\/h2>\n
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Call our Chapter 7 Bankruptcy Lawyer in Columbus OH Now!<\/span><\/h2>\n