Introduction to a premier Cleveland Bankruptcy Lawyer and Cleveland Bankruptcy Attorney serving all of your bankruptcy needs for Cleveland, Ohio, East, West or South!
Picking the correct bankruptcy attorney or lawyer is probably the most important step in the bankruptcy process. When a person contacts a bankruptcy attorney or lawyer, the attorney or lawyer should be the one that is guiding you through the bankruptcy process. Whether you have one creditor or one hundred creditors, your bankruptcy attorney or lawyer should be able to carefully advise you of your rights. Bankruptcy is a legal process of dealing with debts when the debtor has no reasonable ability to repay under the current terms. Most people who file for bankruptcy relief are able to keep most, if not all, of their property and discharge many kinds of debts. A married person can file alone or jointly with a spouse. Alternatives to bankruptcy include credit counseling or selling property to reduce debt.
When you have reached a point where you are relying on credit to make up the income shortfall each month, you need help now. Attorney Krainess has helped many people through the complex bankruptcy process. He will help you understand whether your monthly income is enough to support your current lifestyle and whether you need to consult a reputable credit counselor or explore the protections afforded under Federal and Ohio bankruptcy law. After your free initial consultation with Attorney Krainess, you will know the best way to handle your debt situation. Do not delay, make your free initial appointment today, call me at 216-320-4357!
Types of Bankruptcy
There are many types of bankruptcies. The most known types of bankruptcies include CHAPTER 7, 11, and 13. The bankruptcy process is a matter of Federal law, with state law exemptions, and is filed in the US Bankruptcy Court. The most common forms are CHAPTER 7 (liquidation) and CHAPTER 13 (repayment plans). In a CHAPTER 7 case, a debtor may be required to turn over certain types of property. The trustee would then sell the property and distribute the proceeds to the creditors. In most cases, however, a debtor’s property is usually exempt (protected) and nothing is surrendered. This type of case is considered a “no-asset” case and can be completed in approximately 120 days. With a CHAPTER 7 case, the debtor has no future obligations on the discharged debt. In a CHAPTER 13 bankruptcy, no property is surrendered. Instead, a 5 year repayment plan is used to help a person get current on delinquent debts, including even back taxes and mortgage arrearages. This form of bankruptcy is often used to prevent mortgage foreclosure, car repossession and even IRS levies. Attorney Krainess can advise and educate you on the qualifications needed in Ohio to make your CHAPTER 7 successfully discharged. Call for your free initial appointment today at 216-320-4357!
To reach a Cleveland Bankruptcy Attorney or a Cleveland Bankruptcy Lawyer who can answer your questions, please call me at 216-320-4357 and I will be more than glad to offer you advice. Remember the first initial consultation is absolutely free! What are you waiting for? Call now for your FREE INITIAL CONSULTATION!
