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Filing Chapter 13 Bankruptcy in Columbus

30 Years of Chapter 13 Bankruptcy Law Experience On Your Side

During your no-cost Chapter 13 debt relief analysis with The Needleman Law Office, we analyze your financial situation and create a plan of action to put your financial future back on track. Over 30 years of legal experience puts me ahead of the competition when it comes to finding debt relief for you through Columbus Chapter 13 Bankruptcy.

15 Minutes to Feel Better

How Filing Chapter 13 Bankruptcy With an Attorney in Columbus Can Help You

If you are struggling to keep your head above water financially, you’re probably concerned you might lose your home or never qualify for credit again It may be time to consider speaking to a Columbus, Ohio Chapter 13 bankruptcy attorney for professional help.

Chapter 13 bankruptcy is frequently referred to as a “wage earners” bankruptcy because it’s typically used by debtors who earn a moderate to above-average income. To file a Columbus Chapter 13 bankruptcy you must pass the “means test” which compares your income with the income of other similar households in Ohio. Your Columbus Chapter 13 bankruptcy lawyer at The Needleman Law Office will guide you through the process of filing Chapter 13 in Ohio and developing a repayment plan, allowing you to repay the majority of your debts over an extended period of time, typically three to five years.

What Happens After Filing for Chapter 13 Bankruptcy in Columbus, Ohio

Once you get professional legal help from your Columbus Chapter 13 attorney to process your filing, a percentage of your available income each month will be set aside to pay your debts. You’ll send the agreed-upon amount to the bankruptcy trustee each month who will then distribute the funds according to the schedule. Upon the successful completion of your repayment plan most remaining unsecured debts will be discharged, or eliminated.

Ohio Chapter 13 Bankruptcy Repayment Plan & Disposable Income

The repayment plan will give preference to priority and secured debts which may include debts such as certain federal and state tax obligations or a mortgage loan that you took out to finance your home purchase. The funds will be distributed based on priority and then the amount of the debt, meaning a priority creditor to whom you owe a large debt will likely receive a significant percentage of the available funds each month. You, however, no longer need to worry about how to distribute your available funds each month.

For Chapter 13 bankruptcy to alleviate your financial situation in Ohio, you’ll need enough monthly income, or disposable income, to fund that plan. The amount of money that you are required to pay each month is based on your income. The more money you earn the more money you can pay to creditors.

FAQs With The Best Central Ohio Bankruptcy Attorney

Your disposable income is calculated by considering all the money you receive and then deducting your monthly living expenses. You’ll complete form 22C as part of your filing. Again, this is something an experienced Chapter 13 bankruptcy attorney at The Needleman Law Office in Columbus, Ohio can help you with.

Your definition of disposable income may not align with that of the bankruptcy court, however, it is in charge of the process. Generally speaking, this includes any money paid to you to regularly cover expenses. This income most commonly includes:

  • Employment wages
  • Employment salary
  • Rental income
  • Self-employment income
  • Your spouse’s income (not always included)
  • Government benefits
  • Unemployment benefits
  • Welfare
  • Child support payments
  • Alimony
  • Retirement benefits, such as a pension

Step Toward a Brighter Future and Debt Relief With Columbus Chapter 13 Bankruptcy Help

At The Needleman Law Office, I understand how financial problems can negatively impact you and your family which is why I am committed to helping you find a solution. Contact the office today by calling 614-575-1188 so that we can discuss your legal options for filing Chapter 13 bankruptcy and start you on the path to a brighter, debt-free future.

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