THE NEEDLEMAN LAW OFFICE
ATTORNEY SCOTT R. NEEDLEMAN
Columbus Ohio Bankruptcy
People frequently have a number of misconceptions about bankruptcy in Columbus. One of the biggest misconceptions is that filing for bankruptcy protection means you will lose your home or other assets that you have worked a lifetime to acquire. In most cases, this is simply not the case. By understanding the bankruptcy process better you can make an informed decision whether filing for Columbus Ohio bankruptcy is the right choice for you and your family.
As a Columbus, Ohio Bankruptcy Attorney I understand how financial problems can negatively impact you and your family which is why we are committed to helping you find a solution. Contact my Columbus bankruptcy lawyer office today by calling 614-575-1188 so that we can discuss your legal options and start you on the path to a brighter, debt-free future.
The Columbus Ohio Bankruptcy Process
The precise path your bankruptcy will take will depend on the bankruptcy chapter you file under. A chapter 7 bankruptcy in Ohio is the easiest and fastest; however, not all debtors qualify to file a chapter 7 bankruptcy. For all debtors, the process begins when you file a petition for bankruptcy in the appropriate court. At that point, the court will issue an “automatic stay” order. This order forbids creditors from any further attempts to collect on a debt until further notice from the court. For a debtor this offers immediate relief from the mountain of debt that was dragging you down each week.
All of your creditors will be notified of your bankruptcy filing and provided an opportunity to question you regarding your debts, income, and assets at the meeting of creditors, also known as a “341 hearing”. For most debtors this meeting is a mere formality. After the 341 hearing, you will develop a repayment plan if filing under chapters other than chapter 7. At the end of the repayment period your bankruptcy will be discharged. If you are filing under chapter 7 your bankruptcy will be discharged approximately 60 days after the 341 hearing. All eligible debts remaining at the time of discharge will be forgiven, meaning you are no longer legally obligated to repay the debt.
Assets and Credit
The two most common concerns debtors have when contemplating bankruptcy revolve around assets and credit. While each case is unique, the truth is that state and federal exemptions allow a typical debtor to retain the majority of his or her assets, including a house and vehicle in most cases, when filing bankruptcy. Moreover, while your credit rating may be adversely affected when you initially file bankruptcy, a debtor’s credit rating frequently goes up immediately after a bankruptcy is discharged because your debt to income ratio decreases significantly, making you a more attractive credit risk for potential lenders.
Columbus bankruptcy lawyer Scott R. Needleman, of The Needleman Law Office, works with hard working individuals and small business owners who, for a variety of reasons, are facing financial hardship. Attorney Needleman is committed to helping you resolve your financial crisis. Contact the office today by calling 614-575-1188 so that we can discuss your legal options and start you on the path to a brighter, debt-free future.
Posted By: Danny Worth his weight in gold
The best Attorney i had and does'nt play games and straight forward. If it can be done he will get the job done. He did damage control on another well known inexperienced law firm in columbus (clowns) messed up. Scott you're the best!
Posted By: Stephen Very Pleased
Scott Needleman is a wealth of knowledge, his service was accurate and timely. The service provided exceed the price. Thank you.
Posted By: Candice Great Lawyer
He made me feel comfortable from the beginning. I'm so glad a friend suggested him to me. He made the process as easy as possible and I can't thank him enough for his help!
Posted By: William No non-sense
I hires Scott to do a chapter 13. He was/is current with revised laws, knowledgeable, tough and looks out for his customers. And he was a boxer. YIKES!
Posted By: Winfield Chapter 7 Bankruptcy Case
Scott did a good job when I had to file for bankruptcy. He helped me eliminate my credit card debt and it only took 4 months. It didn't take the entire 6 months that I was expecting.
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