Chapter 7 Bankruptcy Lawyer in Akron, OH
How an Akron Chapter 7 Bankruptcy Attorney Can Help
Thinking of filing for bankruptcy? Let an Akron Chapter 7 bankruptcy attorney from our firm help you by:
- Reviewing your case and determining your eligibility for Chapter 7 bankruptcy
- Advising you of alternatives to bankruptcy, such as debt consolidation or loan modification
- Ensuring you understand what to expect during the Chapter 7 bankruptcy process
- Helping you to collect and organize your financial records prior to filing for bankruptcy
- Preparing and filing your bankruptcy petition
- Representing you in bankruptcy court and in hearings and meetings with bankruptcy trustees and your creditors
- Advocating for your rights and working hard to protect as much of your assets as possible
We can help you on the path to debt relief. Call or contact the Akron Chapter 7 bankruptcy lawyers in Akron, OH today for a free, confidential case review.
If you have debts that you can no longer afford to pay, filing for Chapter 7 bankruptcy may be the best option to relieve your financial pressure and get a fresh start. However, the process of filing for bankruptcy can feel overwhelming and most people don’t know where to start.
Get an experienced bankruptcy attorney from Amourgis & Associates, Attorneys at Law on your side. We can help you understand your options, protect your interests, and guide you through every step of filing for Chapter 7 bankruptcy. Contact us today to learn how an Akron, OH bankruptcy lawyer can help you. Your first consultation is free.
How to File Chapter 7 Bankruptcy in Akron, OH
If you wish to file for Chapter 7, you will need to take several important steps, including:
- Speaking with an Akron bankruptcy lawyer to learn about the bankruptcy process and get help preparing and pursuing your petition.
- Collecting your financial records, including pay stubs and income statements, tax returns, deeds and mortgages, vehicle titles and loan documents, bank and brokerage statements, retirement account statements, and documents relating to life insurance or annuity policies, workers’ compensation payments, or disability benefits.
- Running the means test, which determines your eligibility to file for Chapter 7 bankruptcy. If the means test finds that you have the assets and income to pay more to your creditors than they would receive under Chapter 7, you may not qualify.
- Completing a debt counseling course, which is required in order to file.
- Filing your Chapter 7 petition with your local federal bankruptcy court and paying all required fees. Our Akron bankruptcy attorneys can handle this process for you.
Chapter 7 Exemptions in Akron
In Chapter 7 bankruptcy, you are allowed to exempt certain types and values of property from liquidation. Federal law maintains a list of Chapter 7 exemptions. Many states also have their own lists.
Ohio has its own list of Chapter 7 exemptions under state law. But unlike many states, you cannot choose between using the federal exemptions or Ohio exemptions.
The Chapter 7 bankruptcy exemptions under Ohio law include:
- Up to $145,425 in the value of a primary residence
- Up to $4,000 of value in a motor vehicle
- Up to $13,400 total of household goods, appliances, clothing, pets, musical instruments, firearms, or hunting/fishing equipment
- Up to $1,700 of jewelry
- IRAs and Roth IRAs
- 401(k) plans
- Up to $500 in bank accounts
- Up to 75 percent of disposable income
- Up to $25,175 of a personal injury settlement
- Up to $2,550 total for tools and equipment used for work
- A wildcard exemption of $1,325, which may be used to cover non-exempt property or added to other exemption categories
- Health aids
- Tuition credits
- Pensions and annuities
- Life insurance policies
- Workers’ compensation. vocational rehabilitation, and disability benefits
- Unemployment compensation
How Much Does Chapter 7 Cost in Ohio?
The filing fees for a Chapter 7 bankruptcy in Ohio are currently $338 and increase periodically. You will also need to account for around $50 for the credit counseling course. At Amourgis & Associates, Attorneys at Law, we offer free consultations so that you can learn about your legal rights at no cost to you.
Our Akron bankruptcy lawyers understand that you are under tremendous financial strain. Getting experienced legal help to guide you through the process shouldn’t add to the stress. We can work with you on a payment plan so that you can benefit from our legal services without additional pressure.
