Many people face financial struggles that they cannot overcome without outside assistance. The law provides effective relief from overwhelming debt in the form of bankruptcy, which is a legal process overseen by the federal bankruptcy courts.
However, bankruptcy should never be a decision you take lightly, and it is important to fully discuss your options with experienced Dayton bankruptcy attorneys. Should you decide to move forward with a case, we can handle every step of the process.
Bankruptcy can provide significant relief from debts you cannot pay, though this is not the right option for everyone. Our legal team can review your situation and advise you of your best options, and some factors that influence this decision include:
In some cases, bankruptcy might not be necessary to help your financial situation, and negotiating with creditors directly might be possible. In some situations, bankruptcy might do little to help due to the types of debt you have – for example, bankruptcy cannot wipe out most student loans. We will advise you whether you are a good candidate for bankruptcy or not.
Deciding to file for bankruptcy is only the beginning of the decision-making process. The next step is to determine which type of bankruptcy is most appropriate and beneficial for your situation. There are two types of bankruptcy that are common for individuals and married couples:
This is often referred to as a straight bankruptcy or liquidation bankruptcy, and it is the most common type of case filed by consumers and small business owners. In a Chapter 7 case, the court can take certain property and assets in exchange for a relatively quick discharge of your qualified debts.
This is a longer process referred to as reorganization bankruptcy. This type of case does not take your property or assets, but it does require you to complete a payment plan for three to five years of your debts as reorganized by the court. Then, you can receive a discharge of the remaining qualified debts.
While Chapter 7 cases tend to be preferable, not everyone is eligible for this type of case due to higher income. In addition, if you have property you cannot protect with exemptions, you might choose Chapter 13 to prevent the liquidation of that property.
Once you settle on a specific type of bankruptcy case, our attorneys will assist with the preparation and filing of all necessary paperwork, and we will represent you to the bankruptcy court to best ensure a successful outcome of your case.
It is natural to have many questions and concerns about bankruptcy and its implications. The VanNoy Firm is ready to provide information and guide you through this process so you can experience financial freedom. Contact us today to learn more about our firm and your options for filing bankruptcy in Ohio.
Our premier Dayton attorneys work diligently to defend our clients’ rights with aggressive and individualized legal representation.
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I feel morally obligated to write this testimonial. The VanNoy firm is the ideal; personable, professional, and simply brilliant group of committed individuals. They really came through for me in a scary time of my life. I couldn't have asked better representation or experience than what they provided. Wholeheartedly, thank you very much for all of your work.
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Such an amazing attorney! He worked very hard on my husbands case.
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The VanNoy attorneys successfully represented me when I felt lost in a frightening system. The VanNoy support staff were helpful and responsive as well, obviously caring that the case was handled professionally and quickly. I knew I made the correct choice for an attorney with the first meeting. Mr VanNoy thoughtfully guided me through an emotional process, and I feel blessed to have worked with him. Thank you.
“My family and I believe that God led us to your firm for you to do just what you did—and that is, settle the case in a fair and an appropriate manner. THANK YOU. Throughout our meetings, you demonstrated a calm and confident demeanor, extensive knowledge of the law as it related to the case, and the mental armor needed to acquire a favorable outcome. You also provided invaluable information and wisdom. Last, but certainly not least, we appreciate your top-notch staff. They made us feel comfortable on the phone and in person.” Marion
Anthony, Lynn and everyone I've dealt with so far at this firm have been wonderful. They have tried to make a really difficult time in my life a little easier on me and my son. I would definitely recommend them to anyone needing a great lawyer.
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