Youngstown Bankruptcy Lawyers – Get Debt Relief Today

Trusted Youngstown Bankruptcy Lawyers Helping You Achieve Financial Freedom

Are you overwhelmed by mounting debts, creditor harassment, or the threat of foreclosure? You’re not alone. Many people in Youngstown, OH, find relief through bankruptcy. At Amourgis & Associates, Attorneys at Law, our dedicated Youngstown bankruptcy lawyers provide compassionate, knowledgeable legal guidance to help you regain control of your financial future.

Our law firm has decades of experience assisting individuals and businesses with bankruptcy filings, ensuring a smooth process while protecting your rights. We offer free initial consultations to evaluate your options and create a personalized debt-relief strategy.

Bankruptcy Solutions in Youngstown, OH

If you’re considering bankruptcy, it’s crucial to understand which type best fits your financial situation. Our Youngstown bankruptcy attorneys can guide you through the following options:

Chapter 7 Bankruptcy – Liquidation

A Chapter 7 bankruptcy is designed for individuals with overwhelming debt and limited income. It allows you to eliminate most unsecured debts, including credit card bills and medical expenses, while keeping essential assets like your home, car, and retirement accounts.

Chapter 13 Bankruptcy – Debt Repayment Plan

If you have a steady income but are struggling with debt, Chapter 13 bankruptcy lets you create a structured repayment plan over three to five years. This option can stop foreclosure, repossession, and wage garnishment while allowing you to pay off debts over time.

How to File for Bankruptcy in Youngstown, OH

Filing for bankruptcy involves several steps, and our experienced Youngstown bankruptcy attorneys are here to guide you every step of the way:

1. Gather Financial Documents – Collect income records, bank statements, tax returns, and a list of assets and debts.
2. Complete a Credit Counseling Course – Ohio law requires you to take a certified credit counseling course before filing.
3. File a Bankruptcy Petition – Submit necessary forms to the bankruptcy court, including a list of creditors and financial statements.
4. Work with a Bankruptcy Trustee – A court-appointed trustee reviews your case and may request additional documentation.
5. Attend a Court Hearing – Creditors may attend the hearing to verify your financial situation and discuss debt discharge.
6. Receive Debt Discharge – Once approved, qualifying debts are eliminated or restructured according to your bankruptcy plan.

Debt That Can Be Eliminated in Bankruptcy

Some of the debts that can be eliminated in bankruptcy include:

• Credit card debts
• Medical bills
• Lawsuits and wage garnishments
• Utility bills
• Repossessions
• Loans, including payday loans
• Foreclosures
• Mortgages and mortgage loan deficiencies
• Judgments and liens
• Tax debts
• Driver’s license suspensions and reinstatement fees

The Ohio Bankruptcy Means Test

Ohio law sets an income limit for people seeking to file for Chapter 7 bankruptcy. This is known as the Ohio means test. It seeks to show that you do not have the income to file for a Chapter 13 reorganization bankruptcy. To qualify for Chapter 7 bankruptcy, you must show that your income level is less than the median income for an Ohio household of a similar size.

The actual test involves adding up all your sources of income and then subtracting your allowable expenses from your average monthly income. Allowable expenses include things like housing costs, transportation costs, utilities, food, health insurance, and out-of-pocket medical bills.

If your monthly income level for the next five years does not exceed $7,475, you “pass” the test. If your income is higher than $12,475 per month, you fail and are ineligible to file for Chapter 7. If your income level is between those two amounts, you will have to calculate whether you have enough money to pay at least 25 percent of your unsecured debts during the next five years.

The Truth About Bankruptcy Myths

Here are a few common myths about bankruptcy and the truth about these myths:

• Filing for bankruptcy will ruin your credit forever. Filing for bankruptcy can discharge many of your debts, making it easier for you to pay back your existing creditors and get credit from new lenders once you’ve emerged from bankruptcy.
• You can’t file for bankruptcy if you have a job. You can file for bankruptcy whether you have a job or not. If your wages are currently being garnished, filing for bankruptcy can bring that to a stop.
• Credit card debt can’t be discharged in bankruptcy. Most unsecured debts, including credit card debt, can be discharged in bankruptcy.
• You will lose all your property by filing for bankruptcy. Only certain kinds of assets can be sold in bankruptcy. Basic necessities, including your home, your car, and household essentials, are exempt from being sold off to creditors.

Contact Our Youngstown Bankruptcy Lawyers Today

If you’re struggling with debt, don’t wait to seek legal help. The skilled Youngstown bankruptcy attorneys at Amourgis & Associates, Attorneys at Law, are ready to help you explore your options and find a debt-relief solution that works for you.

Call us at 800-444-1967 for a free consultation or visit our website to schedule an appointment online. Take the first step toward financial freedom today!