How Does Bankruptcy Work?
Ohio Debt Relief Law Firm
You have made the first step to getting out of debt by landing on this website. However, you have no idea what to do now. We at Moseman Law Office are here to help you get out of debt as quickly and painlessly as possible.
Meet with Attorney Moseman
To start the bankruptcy process, we have each prospective client meet with Attorney Moseman. She assesses your total financial situation. We will discuss your assets, your debts, your family size, your income and your goals for the bankruptcy. Most times, bankruptcy is the best option, but if it’s not, we will make sure that you have the proper information and referrals to get you help.
If you decide to hire Moseman Law Office, we give you a packet of information to fill out and return. Once we receive the packet back we enter the information in the computer. All bankruptcies are filed electronically. You will be as thorough as possible when completing the packet, but we will usually ask you for more information.
Best Practices When Filing for Bankruptcy
Once you have decided to file for bankruptcy there are things that are generally advised to do and not do. However, each situation is different so you should follow the specific plan created by you and Attorney Moseman. You should stop using and paying your credit cards. You will stop paying on medical and other debts that you are discharging in your bankruptcy.
If you are keeping your car(s) and house you should continue to pay on any loans against those assets. You should not pay family members back within a year of filing bankruptcy. You should not incur new debt or ‘run up’ your current debt. You should discuss any loans you have taken against your retirement accounts or life insurance policies with your attorney. You should create and follow a plan with your attorney.
Pre-Filing Class and Court Preparation
Once we have all the information (and the fees for service and case filing) we will make sure that you have taken the pre-filing class. Then the client and Attorney Moseman meet to go over the case information and enter last minute details like current bank account balances and the case is filed that day. The case is usually filed while the client is in the office. If there are lawsuits to receive notice of the filing that documentation is sent out by Moseman Law.
Meeting of Creditors
There is one hearing that each client must attend. If is called the ‘Meeting of Creditors’. The hearing will be held approximately 30 days after the case is filed. The attorney is with the client at this meeting but cannot speak for the client. The creditors, while they can attend the meeting, do not attend the hearing 99% of the time. The hearing is conducted by a Trustee appointed to the case and generally lasts less than 20 minutes. The trustee asks questions regarding the assets and debts listed in your bankruptcy filing.
Discharge of Debts
The next step is waiting for the discharge of your debts by the court. The discharge cannot be granted until the client has completed the post-filing class and the attorney has filed the certificate with the court. The discharge usually occurs approximately 90 days from the date the case was filed. The case generally closes within a week of the discharge.
After bankruptcy, the client will want to start to rebuild his or her credit. This can be done by acquiring a secured credit card, charging less than $50, and paying it off each month. It can help by making utility and other payments timely.
Check out our FAQ page for more information!
Debt Relief Law Firm in Ohio
Moseman Law Office, LLC wants to help you get out of debt and find the relief you need to live a full and satisfying life. Your debt may result in bankruptcy, but we are here to assure you that it’s not the end of the world. There are laws in place to help you, and at Moseman Law Office, LLC, we are here to give you guidance and help you through the process. As an Ohio debt relief attorney, Attorney Heather Moseman understands the laws and will answer your questions. Contact us today for an appointment!
We are a debt relief agency.
Moseman Law Office, LLC
Moseman Law Office, LLC is a full-service legal firm located in Mentor, Ohio, serving all of Northeast Ohio and providing personalized legal solutions to its clients.
Moseman Law Office, LLC
8500 Station St., Ste 210
Mentor, OH 44060
Phone: (440) 255-0832