Chapter 7 relieves you from most debts. You can normally keep certain debts, such as home mortgages, vehicle payments, and property loans as long as you continue to make your payments on time.
When filing Chapter 7 Bankruptcy, you can keep your house, vehicles and other property. Most people do not have more equity in these items then what is allowed by law. If you do happen to fall into this rare category, you can file a Chapter 13 bankruptcy and still keep your property.
The Court will object to you keeping a debt if the debt will cause you undue hardship. This means that your budget has to show that you are able to make the payments for the item you want to keep. The Court also objects to luxury items.
Most people do still qualify for Chapter 7 Bankruptcy under the current law.
If you have not filed a Chapter 7 bankruptcy in the last eight (8) years, and have not completed a Chapter 13 Payment Plan in the past six (6) years, then there is a good chance that you will qualify to file a Chapter 7 Bankruptcy.
For Muskingum, Washington, Coshocton, Guernsey, Morgan, Noble, and Perry County, my office normally charges a fee of $551.00 in attorney fees for one individual or $626.00 for a married couple filing together. The Court charges a fee of $335.00 in court costs for Chapter 7 bankruptcy cases. Because business bankruptcies are more complicated, the attorney fees will be more.
If you do not live in the above listed counties, please contact my office for further information. We do represent clients in other Ohio counties whose hearings are in Columbus or Bellaire for a higher fee.