Chapter 13 Basics

We are bankruptcy attorneys located in Middletown, Ohio.  Our main focus of practice has been Chapter 7 and Chapter 13 Bankruptcy for over 27 years.

In this blog, however, we will be focusing on Chapter 13.


Chapter 13 is designed for people who are behind on their mortgage payments who would like to save their home or their income is too high to qualify for Chapter 7.  Chapter 13 involves fuelpaying your disposable income to creditors over a three to five year period.  During this time you will be able to make up any missed mortgage or vehicle payments.  Your unsecured creditors will be paid a percentage of what you owe them, once you complete your case and receive your discharge the remaining balance will be deemed discharged through the case.  This means that creditors will not be able to collect on these debts in any way or form.  They will not be allowed to contact you by phone, mail or any other means.


To determine your disposable income we will need to know your income for the last six months.  If you have had a pay cut or loss of overtime hours we can reduce your current income for these situations, same if you are making more money at the time we would have to increase your current income.  We would then need to subtract your expenses from your income.  This includes all of your expenses required to take care of your family such as food, rent or dollarsmortgage,vehicle payments, utilities and other such needs.  Then we consider things that you know you will be spending such as car repairs, home maintenance or medical expenses.  Then we need to look at things you may not be spending money on but it would be in your best interest to do so such as health insurance, life insurance or maybe a retirement savings account.  If you have expenses not mentioned that doesn’t mean we can’t count it as long as it is reasonable and necessary.  Once all of these expenses are counted they get deducted from your income and the remainder is an idea of your disposable income.


It is not a good idea to try to file a Chapter 13 on your own at your court hearing the trustee will evaluate the reasonableness of your expenses and will try to cut them down so that there is extra money to pay your creditors.  Our job as your attorney is to protect the money that is necessary for you to take care of yourself and your family.  This is why we sit down with you and go over your unique situation and expenses with you thoroughly before the case is filed.


Your Chapter 13 payments must be enough to cover certain required payments.  Your plan payment must be enough to pay for your mortgage arrears over the next five years, your current mortgage payment (as the 13 office would make your regular mortgage payment through the case), if you have a vehicle payment this will be included and a small amount for your unsecured creditors.


Every situation is unique.  We offer a free consultation where you will be able to sit down with one of our attorney and discuss your situation.  The attorney will be able to give you an approximate amount of what your Chapter 13 payment would be at this free consultation.  They would also quote you a fee.  If you decided to move forward a small retainer would get things started and then we would take payments, once paid your case will be filed.

For more information see our website at

Contact your Middletown, Ohio bankruptcy attorney today for your free consultation.

Bankruptcy is the best way out of debt

We are bankruptcy attorneys located in Middletown, Ohio.  Our main focus of practice has been Chapter 7 and Chapter 13 Bankruptcy filings for over 27 years.

Are you struggling with debt?  Many Americans struggle with debt every year. Looking for the best way out of debt can be exhausting and time consuming.  The most common ways out of debt are debt consolidation, debt management, debt settlement, do it yourself and bankruptcy.  It is best to determine the best way out of debt for yourself.  But be careful, believe it or not there are many unreliable and even predatory companies out there that will take advantage of you if you’re not careful.

In this blog we will cover these basic ways out of debt and I will show you why bankruptcy is the best way out of debt.


Debt consolidation is when you get a new loan to pay off your existing debts. The term “consolidate” means to group several things together into one, which makes sense since debt consolidation groups all of your existing debts into a new loan.  Doing this may lower your monthly payment and possibly your interest rate.

downpigThe problem with debt consolidation is you have not reduced your amount of debt, you have simply lumped all of your debt into one loan with one payment.  You are still accruing interest on this high balance and it will take years to pay off this single loan.

Entering into a Chapter 13 bankruptcy will also lump all of your debts into one low monthly payment.  However, in Chapter 13 no interest will incur and you will only pay back a percentage of the debt you owe.


A debt management plan is a program offered by companies or non-profit groups that say they will help you negotiate a new payment plan with your current creditors.  The debt management company will negotiate your debts with your creditors and you will make a monthly payment to the debt management company directly, while they will pay your creditors for you.

There are several problems with the debt management plan.  First and foremost an honest debt management company is hard to find.  Unfortunately not all of these companies are honest in what they are selling you and how they distribute your funds.  We have had more than one client say they paid to one of these companies without ever seeing their balances go down.

Bankruptcy is held in a federal court.  All bankruptcy attorneys are governed by their state bar association, which means we are legit and will not take your money and run per say.


Debt settlement is when you work directly with your creditors and they will accept a lower amount of money than what you owe them.  You must have the full amount to immediately pay.  This is not too bad of a way out of debt, if you have the funds to do so.

Even if you do have the funds to do debt settlement, not all of your creditors may be willing to 7055048-uncle-sam-s-arm-with-palm-up-on-white-backgroundwork with you and give you a reduction in the amount you owe, so you would not get anywhere in the process with these creditors.  Also, creditors who do settle with you will send you a 1099 at the end of the year and you will need to claim the amount that the creditor wrote off as income on your next tax return.  You will most likely end up owing the IRS and that is just not pretty and there is not quick way out of owing debt to the IRS.

If you file for bankruptcy even in Chapter 7 where you will wipe out all of your debt and not have to pay back a dime, you will not receive any type of tax documentation.  You do not have to list a bankruptcy on your tax return.


Aren’t you already trying to do this?  Paying each month what you can afford to pay, but not really getting ahead.  It really depends on the amount of debt that you have if you will ever be able to get out of debt on your own.  If you don’t have much debt, then this will be a great option for you.  Unfortunately, the average american household has $15,000.00 in credit card debt, not to mention medical debt.  This is really no small amount to pull yourself out of.


Bankruptcy gets a bad rap in the minds of many.  Many think you have to be a deadbeat or scum of the earth to end up filing for bankruptcy protection.  This is not true, there are thousands of bankruptcies filed in the U.S. each day.  Most are filed by families trying to get by, just like you.  Just because you file for bankruptcy does not mean that you are a bad person, just a regular person in a bad financial situation.

This is the fastest and easiest way to get out debt.  True, the bankruptcy filing will stay on your images (5)credit report for up to 10 years, but all of the options above will affect you for about the same amount of time.  The key to bankruptcy is afterwards paying all of your bills on time and not having debts go into collections.  You will be able to get new credit rather quickly if that is what you desire.  Under federal bankruptcy protection you can wipe out all of your debts and get a fresh financial start, without much penalty.


For more information check out our website at

Call 513-422-2994 today for your free consultation to see if bankruptcy is your best way out of debt.

Credit After Bankruptcy

We are bankruptcy attorneys located in Middletown, Ohio.  We specialize in Chapter 7 and Chapter 13 bankruptcy filings.

Struggling with debt?  Exhausting your funds trying to get out of debt? Borrowing from Peter to pay Paul every month.  Avoiding the collection calls and checking the mailhands.  Many know that they are struggling and at the end of their rope, but are just scared to file for bankruptcy.  Filing could solve many of these financial difficulties, but they are afraid that if they file they will ruin their credit for the rest of their lives.  This is simply not true.  Actually just letting things go will ruin their credit more than filing. Just letting the debt go will result in court proceedings and judgments on credit reports. These judgments will stay on the credit report for as long if not longer than a bankruptcy, as a judgment will stay on the credit report until it is satisfied and will also continue to accrue interest.  Even once you do satisfy the judgment it will show on the credit report as satisfied.  This will still let creditors know that you have had financial difficulty and they will judge you on this basis.


It will not be difficult to re-build your credit after a bankruptcy filing.  Any debt that you keep (such as a home or vehicle) will automatically report on your credit report and start to re-build your credit score.  The important thing is to pay all debts on time and do not have any debts go to collection after a bankruptcy filing.  You can even qualify to buy a home two years after a bankruptcy filing, with a good clean report.  You will be surprised at the amount of credit card offers you will receive after filing.  Creditors also know that you cannot file again for quite some time and are therefore willing to offer more credit.

Filing for bankruptcy does not mean that you are a bad person, just a person in a bad financial situation. Filing for bankruptcy protection will help you out of that bad financial situation and hopefully you will not have to experience the situation again.  We are here to walk you through the process and make it as easy as possible for you to go through. Our attorneys have a combined experience of over 40 years and will be able to make filing seem simple and stress free.


At our law office we will offer you a free consultation.  At this free consultation you will be able to sit down with one of our experienced attorneys and discuss your case.  The attorney will then be able to advise you if bankruptcy is the best option for you and quote you a fee for the images6services.  If you decide to move forward a small retainer will get things started and we will then accept monthly payments until your fees are paid and we would then file your case. Your court date will be approximately 6 weeks out from your filing date.  Once your case is filed all of your creditors will be notified by the court by US mail, they will no longer be allowed to collect on these debts in any manner.


For more information check out our website at or call 513-422-2994 today for your free consultation to get a jump on your fresh financial start.  We are your Middletown, Ohio bankruptcy attorney.

Bankruptcy & Foreclosure

We are bankruptcy attorneys located in Middletown, Ohio.  Our main focus of practice has been bankruptcy for over 27 years.


Sometimes we get in over our head, things happen that are out of our control. Job loss, a medical emergency or a number of other issues could put you into this out of control spiral.  You have to eat and keep on your necessary utilities so that you can live and sometimes when this happens colddogyou may fall behind on your mortgage payments.  This is a scary thought, but it happens.  You just want to hide under the covers and hope that this situation will go away, of course, that is not going to happen, but things usually do get better and seem to work themselves out.  You will still have time to fix things.  A mortgage company will not usually start a foreclosure proceeding against you until you get about 3 months behind on your mortgage.  Once a foreclosure is started it will take approximately 6 months for it to complete.  Once a foreclosure is complete then your home will be transferred out of your name and you will have lost your home.  But you can stop this process if you want.

Most times we are able to pull ourselves out of that hole.  You find a new job or go back to work after your medical emergency and now you are back on top, but you may still be behind on your bills and mortgage and still in danger of losing your home.  Once you become so far behind on a mortgage the lender usually will want all of the funds that you are behind on before they will stop your foreclosure proceeding.  Most people are not able to come up with this large sum of money..but don’t worry there are still options.


Once you become so far behind on your mortgage as I stated above most lenders will want all of the funds you are in arrears with them.  Most people do not have these funds available, especially after rebounding from some medical or other catastrophic event in their lives.  This is when you need to come and talk with an attorney.  Chapter 13 bankruptcy is available.  Chapter 13 is able to save your home.  Once you are under the protection of chapter 13 your mortgage company must stop all foreclosure proceedings, you will be under the protection of the federal government.  In your case you will have 3 to 5 years to pay back the arrears to your mortgage lender.  Your mortgage company must comply with these rules.  They will have to file a document with the court called a proof of claim to be paid.  They will be paid all of the arrears you owe and your regular mortgage payments going forward.  These payments will be made by the Chapter 13 Trustee.  When your case completes the Trustee will file documentation stating that all payments and arrears have been paid in the case, at this time the mortgage company will have a chance to agree or object and once the case completes they can not come back on you for additional fees.  This is a good thing.

As far as your unsecured debts, chapter 13 can help you with that too, as you will be only paying back a percentage of these and all interest will stop.


For more information check out our website at

If you are struggling with your mortgage or other debts call us today.  We offer a free consultation, fair fees and monthly payment plans.  We can help you get out of debt and save your home.


We are bankruptcy attorneys located in Middletown, Ohio.  Our main focus of practice for over 27 years has been bankruptcy.

We all go through tough times.  There are many factors that can cause us to struggle financially.  You could have lost a good paying job and had to take a new job making less money.  You could have had a medical emergency in which you incurred medical debt.  Maybe you have recently divorced.  There are so many factors which can cause hardship in our lives and throw us off balance as far as paying our debts go.  Robbing from Peter to pay Paul at the end of the month, sometimes it just does not work because Peter is broke too.  If this describes you in any way then bankruptcy may help you get a fresh financial start and break out of the prison of debt.


Bankruptcy is a federal code which will allow you to discharge your unsecured debts and get a fresh financial start.  Under the federal code once you file all collection efforts against you must stop.  This includes phone calls, court proceedings and garnishments.  Yes, you can stop a garnishment even if it has already begun once your file for protection.  Bankruptcy is designed to help people get out of debt, it is not a bad thing and if you file it does not mean that you are a bad person, just a person in a bad financial situation.


At our office we will offer you a free consultation.  At this free consultation you will be able to sit down with one of our attorneys and discuss your individual situation.  The attorney would then determine which chapter you would qualify for and guide as to the next step.  If you decide to move forward a small retainer fee will get the process started and we will then accept payments 12436164-faillissementuntil you have paid in full and then your case will be filed.  Once you decide to file and retain our office you should stop paying on bills that you do not want to keep and start referring your creditors to our office.  You would then submit all of your documentation so that your case can be prepared and once paid in full you would sign your documents and your case will be filed.  Your court date will be approximately four weeks after you file.  There are two credit counseling sessions which you will need to complete, one before filing and one after.  You would then receive your bankruptcy discharge and get your fresh financial start.  Creditors will no longer be able to collect on any debts which you included in your bankruptcy filing.


For more information check out our website at

Call your Middletown, Ohio bankruptcy attorney today to see if bankruptcy is the right step for your fresh financial start!