Akron Chapter 7 Bankruptcy Attorneys

Many people find themselves in debt due to unforeseen circumstances such as medical bills, job loss, or divorce. The federal government enacted bankruptcy laws not as a punishment but as a lifeline — a way for citizens to free themselves from crippling debt and embark on a path toward financial recovery. These laws can offer a second chance, a fresh start, for those struggling with overwhelming debt.

At Gertz & Rosen, our attorneys help individuals and businesses achieve debt relief through bankruptcy and commercial restructuring. If you are struggling with unmanageable debt, talk to our team about how we may be able to help.

Understanding Chapter 7 Bankruptcy

Chapter 7 bankruptcy, also called “liquidation bankruptcy,” is a federal court process that allows consumers and businesses to eliminate most of their general unsecured debts and start afresh. It’s frequently used for discharging debts such as credit card bills, payday loans, and medical bills.

A Chapter 7 bankruptcy can offer numerous benefits, including:

• Debt relief: Most unsecured debts can be discharged, meaning you’re no longer legally obligated to pay them.
• Automatic stay: Once you file, creditors are prohibited from taking collection actions against you.
• Fresh start: After discharge, you can rebuild your financial life without the burden of overwhelming debt.

There are limitations to what a Chapter 7 bankruptcy can do, and not all debts can be discharged this way. For example, back child support and student loans are often not eligible for discharge. An experienced bankruptcy attorney can help you identify which unsecured debts may be discharged.

Eligibility Criteria for Chapter 7 Bankruptcy in Ohio

To be eligible for Chapter 7 bankruptcy, you must meet several requirements:

1. Means Test: This is the standard used to determine whether your income is low enough for Chapter 7 bankruptcy. Usually, if your monthly income is below the median for your household size in Ohio, you pass the means test and are eligible. If your income is too high for Chapter 7, you may still be eligible for a Chapter 13 bankruptcy.
2. Credit Counseling Requirement: Before filing, you must complete a credit counseling program from an approved agency.

Failure to meet these requirements may result in the dismissal of your case or conversion to a Chapter 13 bankruptcy.

Why Choose Gertz & Rosen?

At Gertz & Rosen, we understand that filing for bankruptcy is a significant decision that can impact your financial future for years to come. Our team of experienced attorneys is well-versed in state and federal bankruptcy law and can guide you through a Chapter 7 bankruptcy.

We’re committed to providing personalized legal advice tailored to your unique circumstances. Our decades of experience in handling Chapter 7 bankruptcy cases in Ohio ensures that we can navigate the intricacies of the process with skill and efficiency.

Get in Touch Today

If you’re considering Chapter 7 or Chapter 13 bankruptcy in Ohio, don’t go it alone. The legal team at Gertz & Rosen is here to help. We invite you to reach out to us for a comprehensive consultation on your bankruptcy options. Let us help you chart a path to a more secure financial future. Contact us today.