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chapter 13 bankruptcy Archives

Former Major League Baseball star files for Chapter 13

If you are suffering from financial hardships and feelings of inadequacy or loneliness are swelling up inside, it is important to understand that you are not alone. Millions of Americans are in the same boat as you, from common Joes to even celebrities and sports stars. Baseball fans may remember the name Livan Hernandez. The pitcher played Major League Baseball for 17 seasons, earning over $53 million over his career.

Discharge of debt in Chapter 13 bankruptcy

People in Ohio may find themselves in difficult financial times. This can happen for a variety of reasons, and in many situations, it occurred due to circumstances out of their control. If the person reaches a place where they do not believe they will ever be able to pay off their debt, they may consider filing for bankruptcy.

Financial freedom through Chapter 13 bankruptcy

Everyone's financial situation in Ohio is different. There are also many unexpected events throughout life that can completely disrupt a normally stable life. It could be a medical emergency, a divorce, a lost job or other life-changing events. If one does not have any time to prepare for it, they can be left in a tough financial position.

Information needed for a Chapter 13 bankruptcy petition

Life for people in Ohio is unpredictable. No one knows what is going to happen and when unexpected things occur, it can change one's life forever. Sometimes, these unexpected occurrences are good things, but in many other situations, they change people's lives for the worse. They affect people physically, emotionally and financially. Negative effects on one's finances in many situations leads people into significant debt and it may seem like they will never be able to find a way out.

Does Chapter 13 have benefits and how do I know if I'm eligible?

Ohioans who are experiencing financial problems might mistakenly believe that bankruptcy is not a viable option. The bankruptcy laws are in place to help those who are struggling to get a fresh financial start. For those who earn wages and do not want to move forward with a liquidation of their assets under Chapter 7, bankruptcy under Chapter 13 can be beneficial. This is also useful to prevent their homes from being foreclosed upon. Chapter 13 can stop the foreclosure and might be able to clear any delinquent mortgage payments that accrued.