{"id":1145,"date":"2017-07-07T09:00:50","date_gmt":"2017-07-07T09:00:50","guid":{"rendered":"https:\/\/sheplawfirm.wpengine.com\/?p=1145"},"modified":"2023-02-17T02:55:29","modified_gmt":"2023-02-17T07:55:29","slug":"how-to-file-for-bankruptcy","status":"publish","type":"post","link":"https:\/\/sheppardlawoffices.com\/how-to-file-for-bankruptcy\/","title":{"rendered":"How to File for Bankruptcy in Ohio"},"content":{"rendered":"
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Many individuals and business owners often accrue more debt than they can handle, and they suddenly find themselves facing relentless creditor calls and the impending loss of their property. To avoid these problems as soon as possible, filing for bankruptcy is often the best choice.<\/p>\n

If you wish to learn about how to\u00a0file for bankruptcy in Ohio<\/a>, you have come to the right place.<\/p>\n

1. Credit Counseling<\/h2>\n

According to the 2005 Bankruptcy Act, any individual who files for bankruptcy after October 17, 2005, must undergo credit counseling within 6 months prior to filing for bankruptcy<\/a>. You must also enroll in a financial management course after bankruptcy<\/a> proceedings to ensure that you are more capable of handling your finances in the future.<\/p>\n

2. Means Test<\/h2>\n

The Bankruptcy Act mandates that your income and expenses be evaluated by the court to determine your candidacy for\u00a0Chapter 7<\/a>\u00a0or\u00a0Chapter 13<\/a>\u00a0bankruptcy. If your average income for the past 6 months is below the median income for Ohio, Chapter 7 is the ideal option for you. If it is above the median, expenses are subtracted from the income to determine your Chapter 13 candidacy<\/a>.<\/p>\n

3. Gathering Paperwork<\/h2>\n

Bankruptcy is a formal process that requires you to provide a detailed account of your financial situation through the following forms:<\/p>\n