Why hire Wood & Brewer if I need a Chapter 7 or 13 Bankruptcy Lawyer in Dublin, Ohio?

The realization that you have to file for bankruptcy can be a stressful one. In addition, the filing process can be confusing. That’s why hiring Wood & Brewer when you need a bankruptcy lawyer in Dublin, Ohio is a good idea.

The first step is figuring out whether filing for bankruptcy is really the right move for you, and we’ll help you decide that. One of the advantages of filing is that it creates an automatic stay. That means that all collection processes must stop immediately.

Next, we’ll work with you to determine whether you need to file for Chapter 7 or Chapter 13 bankruptcy.

Chapter 7 Bankruptcy

Chapter 7 bankruptcy may be a good idea if you have unsecured debts that you cannot pay and few assets. For example, if you’re struggling with credit card debt or you can’t pay back personal loans, filing for Chapter 7 bankruptcy can wipe those debts out in a few months. The bankruptcy filing will stay on your credit record for 10 years, but you can start rebuilding your credit as soon as the bankruptcy process is complete.

With a Chapter 7 bankruptcy, some of your assets may be liquidated and sold to pay off debts. However, necessary assets, such as clothing and other personal items, are usually protected. Your car and even your home may be protected as well.

Every individual case is different, and that’s why it’s a good idea to have the knowledge and experience of an attorney to guide you through the process.

Chapter 13 Bankruptcy

If you have an income that is higher than the median and assets that you want to protect, Chapter 13 may be a better choice. For example, your home might not fall under Ohio’s homestead exemption for bankruptcy. With a Chapter 13 bankruptcy, you may be able to work out a payment plan that allows you to keep your home.

Chapter 13 is a longer process. It usually takes three to five years, depending on the payment plan that you’ve worked out with your creditors. In addition, you may still be able to discharge unsecured debt, such as credit card debt.

Keep in mind that there are certain types of debt that are exempt from most bankruptcy filings, such as tax debt, alimony and child support. However, filing for bankruptcy can free up funds for you to start paying these debts down.

In addition, student loan debts can only be discharged in limited circumstances. We can work with you to determine whether that’s the case.

Why Choose Wood & Brewer

Filing for bankruptcy can feel overwhelming. Small errors on paperwork can set you back in the process. The laws and regulations can be difficult to understand.

Having an attorney on your side who can work with you throughout the process can make all the difference. We’ll explain everything you need to know and ensure that your paperwork is correct. Reach out to us today to discuss your situation and how we may be able to help.