Last updated March 30, 2017. Your home is one of your largest assets. Your mortgage is probably the largest loan you’ll ever take out. If you’re struggling to pay your bills, it’s also probably your biggest worry. Bankruptcy might be your best option, but what happens to your home when you file? Ohio Homestead Exemption […]
BANKRUPTCY AND DIVORCE When it comes to marriages, few things have the magnetic ability to drag down a relationship like the gravitational pull of debt. Given that debt is a major contributor to marital disenchantment, it is no wonder that bankruptcy and divorce seem to intermingle like old friends. Though divorce and bankruptcy often meet, […]
Rule: Judgment debts incurred by defalcation of a guardian are non-dischargeable in bankruptcy, as are judgment debts for willful and malicious injury. At the end of a successful bankruptcy process, your unsecured debts are discharged. This includes credit card and medical debt. There are exceptions, however, such as student loan debt, which is generally non-dischargeable. […]
Under Chapter 7 bankruptcy law, the court may dismiss your case if it believes that relief is unwarranted based on your financial circumstances. 11 USC § 707(b)(1) reads: After notice and a hearing, the court, on its own motion or on a motion by the United States trustee, trustee (or bankruptcy administrator, if any), or […]