You may be one of many Americans living in Ohio looking to file a bankruptcy to stop a foreclosure, sheriff sale, wage garnishment, vehicle repossession, or utility disconnection. Perhaps your total debt would be an impossible task to pay off in one's lifetime and you are looking to get a fresh start. One of the biggest questions that come to mind is what is the difference between a Chapter 7 and Chapter 13 bankruptcy in Ohio? A Chapter 7 personal bankruptcy is what most people envision of when they think about bankruptcy. It is where most of your debt is discharged such as credit cards, personal loans, medical bills, and other unsecured debts. There are a few things you typically have to pay back such as student loans, back taxes, and domestic support. A Chapter 13 personal bankruptcy is what most people envision of as a debt consolidation. A Chapter 13 bankruptcy is where you make monthly payments to the Chapter 13 Trustee over a period of 3 -5 years. A Chapter 13 bankruptcy may allow you to pay pennies on the dollar on your unsecured debt with a payment you can afford. After the 3- 5 years, the unsecured debt is discharged. Some of the benefits of filing a Chapter 13 personal bankruptcy are that you may be able to pay pennies on the dollar on your unsecured debts such as credit cards, medical bills, personal loans, and bills sent to third-party collections. Filing a Chapter 13 bankruptcy can also help you save your home from foreclosure. You may also get a car back from repossession.

There are many reasons why one may need to file a bankruptcy. Sometimes things are out of your control. No one can help a stroke of bad luck. Perhaps you are unemployed or under employed. Medical bills can pile up quick with insurance companies raising deductibles and lowering coverage. Many Americans in Ohio are struggling financially and looking at bankruptcy for an answer to end it all and to rebuild their financial future. Speaking with an experienced Columbus Ohio Bankruptcy Attorney would be a good idea to determine your eligibility of filing a bankruptcy. The friendly law office of Ralph A. Kerns & Associates is committed to providing excellent representation, which includes carefully explaining to our clients every legal option available to them under the applicable law. We are here to help you through this difficult time and we are always available to answer your questions. For over 30 years, we have helped people file for protection under the U.S. Bankruptcy Code along with exploring other avenues that may be beneficial. We understand the stress of financial worry and are here to help you through the process. Through friendly service and aggressive representation, we ensure our client's rights are protected. We never hesitate to act quickly and efficiently when time is of the essence. Call today for a free consultation. Help is one phone call away!