Steps To Bankruptcy

There are several steps that go into filing for Ohio bankruptcy. First, you need to collect all of your personal financial information. This includes all of your secured and unsecured debts, tax returns for the past 2 years, deeds to any real estate you own, car titles, and any other property you own.

At that point, you need to decide if you want to file for Ohio bankruptcy by yourself or if you to obtain the services of a bankruptcy lawyer to help. It is recommended that you hire a bankruptcy lawyer since they will know better than you the particulars of Ohio bankruptcy law. From there, with or without your lawyer, you will need to fill out the necessary bankruptcy forms.

These forms are collectively called the schedules and describe your current financial status and any recent financial transactions. If filing for chapter 13 personal bankruptcy, a repayment plan must be submitted along with the schedules. Then you must file your bankruptcy petition at a courthouse either in the Northern Ohio Bankruptcy District or the Southern Ohio Bankruptcy District, depending on where you reside.

Filing a bankruptcy petition at a courthouse also requires a fee. It costs $ 200 to file for chapter 7 personal bankruptcy and it costs $ 185 to file for chapter 13 personal bankruptcy. Bear in mind that you will also have to pay your bankruptcy lawyer for their services.

Once the bankruptcy petition has gone through, an automatic stay goes into effect. This stops any collection activity on the part of creditors to give you time to organize your bankruptcy. After the automatic stay has gone into effect, creditors can only communicate with you through your bankruptcy lawyer.

How long a bankruptcy takes depends on what kind. Chapter 7 can take only months while chapter 13 can take from three to five years.

For experienced, knowledgeable and trustworthy bankruptcy assistance, contact the attorneys from www.legalhelpers.com. Call toll-free 800-260-1402 today for your initial free consultation or come into one of their 100 offices across the country.

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