The moment your bankruptcy petition hits the clerk’s docket, the calls stop. Wage garnishment stops and a foreclosure sale scheduled for the same afternoon also stops. This is an automatic stay, which is the fastest and most powerful protection under the Bankruptcy Code. The Stay Takes Effect Instantly – No Hearing Required The automatic stay…
The wrong bankruptcy chapter will not just slow you down – it can result in losing property that you did not need to lose, or paying off debts that you could have completely discharged. Choosing between Chapter 7 and Chapter 13 is the most important decision in any bankruptcy case. This is what each option…
Facing bankruptcy and divorce simultaneously is one of the most challenging legal situations a person can face. The order in which these events occur can significantly impact your debt relief, asset protection, and overall financial recovery. At Axelrod & Hellier LLP, we assist individuals and families in Northeast Ohio to navigate these complex situations with…
Bankruptcy can be a challenging experience. However, keep in mind that this is not the end of your financial journey. You can take a few steps for financial recovery and stability in Ohio. Let’s take a closer look at a few tips for life after bankruptcy. The Bankruptcy Discharge Process When you file for bankruptcy,…
When you are facing medical debt, it can become a financial burden. Not only have you struggled with your health, but now you have to find a way to pay the bills. Bankruptcy may be one type of relief option. With that, you can get a fresh start. If you want to know more about…
Financial hardships can happen at any time. When they do, you have a few solutions to regain control of your finances. For many Ohio residents, Chapter 13 bankruptcy can address some issues with overwhelming debt. This structured approach can help you find a way to financial stability. If you would like to know how Chapter…
When filing for Chapter 7 bankruptcy, a means test evaluates the debtor’s income and expenses. This test determines if a person can qualify for Chapter 7 or if they may have to file for Chapter 13. If you would like to learn more about the means test and Chapter 7 eligibility, here are a few…
Experiencing the threat of losing your home due to foreclosure can cause stress and overwhelm you. If you’re having difficulty making mortgage payments and are facing financial problems, filing for bankruptcy may be an option to help you avoid foreclosure. Learn how bankruptcy can assist you in navigating the home foreclosure process to safeguard your…
When individuals or businesses cannot pay their debts, filing for bankruptcy can help them resolve their financial issues. The primary goal of this legal process is to offer a fresh start to those in need. The two most common filing options are Chapter 7 and Chapter 13 bankruptcy. Understanding their similarities and differences is crucial,…
