Is bankruptcy right for you?

Call (937) 401-5000
Client Login

  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Dayton, Ohio Bankruptcy Attorneys - Cope Law Offices

Dayton Bankruptcy Attorney Personalized Debt Relief Solutions If you are overwhelmed by debt, you may feel as though no one can help you. However, there is help available, and the sooner you take advantage of it, the sooner you will find debt relief solutions. Speaking with a knowledgeable bankruptcy attorney is an easy first step …

Dayton Community

March 17, 2017 by Russ Leave a Comment

Second Job, or File Bankruptcy?

Second Job or Bankruptcy Dayton OhioIf your finances are getting you down, how can you get back on track? For some, the answer may be to get a second job.

In some cases, you can boost your income and help reduce your debt by getting a second job. This is a good option for those who simply need to catch up on bills or payments that were late due to unexpected circumstances. But if you are in severe debt, a second job may not be the ultimate answer for you.

Find out below if a second job is right for you, or if you might have better luck filing for bankruptcy and wiping away your debt.

Millions of Americans Have Multiple Jobs

Millions of Americans are already working two or more jobs, according to a report by Bloomberg News. The number of workers who work multiple part-time jobs to make a full-time one — 2 million — has increased by 11% since 2007. It’s a section of the population that’s also growing faster than people who hold down a full-time job in addition to a part-time job.

During tough economical times, people are resourceful. They often must moonlight to make ends meet. In some cases, people reported having three jobs. The number of people working multiple jobs is not expected to change significantly in the foreseeable future.

If your financial situation is considered temporary, or you are starting to make a dent in your debt, taking another job may be a viable solution. However, it is important to note that in many cases, people are unable to continue working multiple jobs for a long period of time. For some, the option of a second job is used only as a temporary solution to get you through an immediate financial problem. Some people are not able to take on another job because of other commitments such as caring for their children.

Getting a Second Job in Dayton

According to the United States Department of Labor Bureau of Labor Statistics, unemployment for Dayton, Ohio, is at about 4.4% as of the end of 2016. The majority of local jobs last year were in education and health services; trade, transportation, and utilities; government; and professional and business services, respectively.

There are a number of different options for those who want to get a second job, including temporary or short-term employment opportunities. Similar to other employment opportunities, you will be better suited to some kinds of jobs than others.

Determine what type of job will best suit your needs. Many people find success with jobs that allow you to make your own hours or work a flexible schedule. This is particularly important if you’re trying to work around your regular schedule.

Check with temp agencies that are able to match you with local companies that need your services. Seasonal employment is available at retail stores during back-to-school and holiday periods. These jobs offer flexible hours and schedules, while other choices include restaurants and fast-food establishments.

It’s also possible to start your own small business that you can work during your available hours. Some of these possibilities include:

  • Driver for ride-share service
  • Pet sitter/walker
  • Cosmetics sales
  • Fitness instructor
  • Daycare provider
  • Substitute teacher
  • School bus driver
  • Delivery person

When you consider a second job, think about doing something that you like or enjoy, such as something related to a hobby. Think of something that you can do in your spare time, so you can fit it around your other job’s hours.

Should I File for Bankruptcy?

Just because you are behind in your bills doesn’t mean that you need to file bankruptcy. However, in many cases, bankruptcy can be a very good solution to help those who have a serious debt problem. This can occur when you have been out of work for some time, or are facing unanticipated expenses such as those that occur with an accident or serious illness.

When you are consistently unable to make payments on your debts, you become increasingly insolvent. It becomes increasingly difficult to dig yourself out of the financial debt hole that you are in.

There are two main types of bankruptcy that may apply to individuals. Chapter 7 is the simplest type of bankruptcy. Those who file Chapter 7 will be required to liquidate their assets in order to repay as much of their debt as possible. Chapter 13 bankruptcy allows the reorganization of debts into a repayment plan. Once you file bankruptcy, your situation is secured and creditors are no longer allowed to contact you for payments. Instead, you will work within the court system to resolve your debt situation. In many instances, you will be able to keep many of your possessions.

After filing bankruptcy, your credit score will be impacted. However, many people already are facing very low credit scores, which will only continue to decline if the debts remain unpaid. As a person’s ability to repay their debts continues, they will be increasingly unable to get loans, mortgages, or bank notes.

See also: Ohio is One of the Top 10 States for Bankruptcy Filings, How Many People Filed for Bankruptcy in Dayton in 2016?, Where are the Dayton Bankruptcy Courts?

Hiring an Experienced Bankruptcy Attorney

Each debt situation is different, and requires a unique solution. There are many factors to think about when considering whether to file bankruptcy. Some of these include the amount of debt you have, the value of your possessions, how far in debt you are, whether you are employed, and whether you have other ways of resolving your debt problem.

A qualified bankruptcy attorney with Cope Law Offices will evaluate your case to help you learn both the pros and cons of filing for bankruptcy. Contact us today for a free consultation.

Share on Facebook
Facebook
Tweet about this on Twitter
Twitter
Share on LinkedIn
Linkedin
Pin on Pinterest
Pinterest
Email this to someone
email

Filed Under: Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Dayton Community, Personal Finance

February 21, 2017 by Russ Leave a Comment

How Many People Filed for Bankruptcy in Dayton in 2016?

 

Bankruptcy Trends Dayton OhioLosing your job. Opening the day’s mail and seeing a big, unexpected medical bill you can’t pay for. Never feeling like those credit cards will ever get under control.

These are just a few of the reasons why people in Dayton file for bankruptcy every year. Ohioans are great, hardworking people, but our state is still ranked among the top 10 for the highest percentage of bankruptcy filings — about 322 per 100,000 people. We took a big hit during the Great Recession.

While the amount of bankruptcy cases filed in Ohio, and Dayton, has been on the decline in recent years, mirroring national trends since the height of the economic collapse, there are thousands here locally who still need help with managing their debt every year.

Here’s how bankruptcy cases stacked up in 2016, and where you can turn for advice should you choose to file bankruptcy.

Breaking Down the Numbers

In 2016, the United States Bankruptcy Court Southern District Ohio recorded 4,105 new bankruptcy filings in its Dayton office. Of that, 69 percent were Chapter 7 (2,831) and 31 percent were Chapter 13 (1,273). Just one Chapter 11 bankruptcy was filed the entire year, and no Chapter 12.

Ninety-seven reopened cases were included in the grand total of Dayton bankruptcy cases for 2016. There were 115 adversary proceedings filed last year. An adversary proceeding (AP) is a lawsuit filed separately from a bankruptcy case, though related, and resembles a typical civil case as found in Rule 7001 of the Federal Rules of Bankruptcy Procedure. Rule 7001 governs adversary proceedings, which include those to determine the dischargeability of debt, revoke an order of confirmation of a Chapter 11, Chapter 12 or Chapter 13 plan, and more.

The busiest month for bankruptcy filings in Dayton was March for total cases (417) as well as Chapter 7 filings (312), though July was the busiest month for just Chapter 13 (139).

On Trend with National Statistics

The Dayton office accounts for 24.4 percent of total bankruptcy cases in the Southern District of Ohio, which also includes Columbus and Cincinnati, with its percentage of Chapter 7 and 13 bankruptcy filings lining up with the average across all offices. More than 17,000 bankruptcy filings took place in the entire district in 2016.

Nationally, of the top 15 bankruptcy courts, the Southern District Ohio ranks 9th in total filings. The Northern District Illinois ranked 1st, with 44,937 total filings.

Districtwide, bankruptcy filings have decreased every year the past five years, generally by between 1,000 to 3,000 fewer cases each year. The decline has slowed, just like it has nationally.

Fewer than 800,000 people filed for bankruptcy in federal courts last year across the U.S. Compared to the 1.6 million bankruptcy filings nationally in September 2010, that’s a big drop in six years.

While the amount of U.S. bankruptcy filings in 2016 was the lowest out of any calendar year since 2006, the decrease in cases is slowing down. 2016 was the first calendar year since 2011 that the percent decrease no longer was double-digit.

A Look Ahead — Is Bankruptcy Right for You?

Despite the overall trend of bankruptcy on the decline, so far, for January 2017, the amount of bankruptcy filings in Dayton are up compared to January 2016. Eighty-one more cases were filed last month compared to the same month a year prior.

Chapter 7 is the clear front-runner in both national cases and locally. To figure out if you should file Chapter 7 or 13, Ohio has some income guidelines to follow. Chapter 7 is basically a “liquidation” of your assets, while Chapter 13 puts you on a repayment plan to your creditors. If you can pay back your creditors, typically Chapter 7 isn’t right for you.

You also want to make sure you’re always filing in good faith, or you could be looking at the court dismissing your case. Eliminate lavish spendings, and work on tightening your wallet. A luxury lifestyle in the midst of a bankruptcy proceeding isn’t going to look good to a judge.

We have some great budget basics that we’ve researched, such as splitting your expenses into categories like rent/mortgage, groceries, credit card payments, with some left over for savings and entertainment. Getting back on track does take time, though, so don’t be dismayed.

If you are struggling with the idea of filing for bankruptcy, we can help. We’ve successfully managed hundreds of bankruptcy cases, and can determine if bankruptcy is right for you. Our expertise includes bankruptcy, bankruptcy protection, bankruptcy and foreclosure, Chapter 7, Chapter 13, and unsecured and secured debt.

Contact us today for a free case review.

Image Credit

Share on Facebook
Facebook
Tweet about this on Twitter
Twitter
Share on LinkedIn
Linkedin
Pin on Pinterest
Pinterest
Email this to someone
email

Filed Under: Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Dayton Community

August 10, 2016 by Russ Leave a Comment

Ohio Is One Of The Top 10 States For Bankruptcy Filings – Why?

Ohio One Of Top In Nation For Bankruptcy FilingsThe number of bankruptcy filings fluctuates over time. For example, filings went way up around the 2008 financial crisis and has slowly dropped off as the economy recovers, It also varies by geographic location; some areas struggle more financially than others or face seasonal financial issues. States in the south generally have higher rates of bankruptcy filings – residents there have historically had lower credit scores and the entire area struggles more financially than other parts of the country.

This year, Ohio’s bankruptcy rates come as something of a surprise – we’re in the top 10 for the highest percentage of bankruptcy filings in the country.

Ohio Bankruptcy Statistics In 2016

In a recent study, Nerdwallet analyzed bankruptcy filings in each state between April of 2015 and March of 2016. They found that the median bankruptcy rate across the country is 224 per 100,000 people – Ohio has 322 filings per 100,000 people. That made for a total of 37,402 personal bankruptcies in Ohio over that year.

The study also tracked bankruptcy filings at a smaller scale, analyzing the number of filings in counties with populations greater than 100,000 people. In Ohio, Cuyahoga County had the most filings out of any of the measured counties in Ohio – 444 per 100,000 people. That puts it at 53rd out of the 587 counties in the country with more than 100,000 residents. Three other Ohio counties were among the top 100: Summit with 407 per 100,000 people, Mahoning with 407, and Montgomery with 392 – that means Dayton.

Ohio isn’t alone in the midwest – Illinois and Indiana also make the top 10 states with the most filings. Otherwise, 6 of the top 10 are in the South and Utah rounds out the set.

Why Are There So Many Bankruptcies In Ohio?

Everyone was hit hard by the Great Recession, and the Midwest took a particularly big hit. The region has also recovered more slowly than other areas of the country. Ohio still has an unemployment rate that’s slightly higher than the national rate – 5% vs. 4.9%. And Ohio’s median income is lower than the national median – $48,849 vs. $53,482.

In other words, the Ohio economy is still lagging a bit behind the national economy. We’re still recovering from 2008 and a slow manufacturing sector have caused further economic troubles. In addition, Ohio has low population growth, which makes for weaker growth of the economy.

The good news is that Ohio is growing faster than any other state in the Midwest – the economy grew by 2.1% in 2014, compared to the US growth rate of 2.2%.

What Should I Do If I’m Struggling With Debt?

The good news is that you’re not alone. Lots of us here in Ohio have a hard time paying the bills – sometimes there just isn’t enough money to go around. And there are lots of steps you can take to make your finances more manageable.

First, it’s a good idea to reach out to your creditors if you’re struggling. They would much rather have you keep paying than go through the trouble of suing you for collection, repossessing your property, or foreclosing. Let them know that you’re having financial troubles and ask them what your options are for making your payments easier – a lower interest rate or a deferment on a couple of a payments, for example. You may even be able to settle your debt by offering a lump sum payment for less than you owe. This goes for your mortgage and auto debt, credit card debt, and medical debt.

If you’re struggling with student loan debt, you also have lots of options for making payment easier. The federal government offers a number of repayment plans based on your income and you can switch to one of those plans at any time, as long as your account is current. So if you know you’re going to fall behind, that’s something you should address right away.

Finally, you may want to consider a bankruptcy. As you can see, lots of people end up needing that financial protection. We all struggled through 2008 and sometimes it takes a serious move to get back on your feet. Bankruptcy can wipe out your unsecured debts and you’ll often be able to keep all of your property – it’s a powerful tool for resetting your finances.

The Bottom Line

Ohio is struggling to catch up with the rest of the country, but we’re going to get there. We’re a great state full of honest, hardworking people and we’ll continue to grow and prosper. We were hit hard in 2008 and that means many of us will need some help getting all the way back onto our feet – that’s why the bankruptcy laws exist. If you’re struggling with debt, please don’t hesitate to reach out for a free consultation to learn about your options for dealing with it.

 

Image Credit

Share on Facebook
Facebook
Tweet about this on Twitter
Twitter
Share on LinkedIn
Linkedin
Pin on Pinterest
Pinterest
Email this to someone
email

Filed Under: Chapter 7 Bankruptcy, Dayton Community, Personal Finance

June 27, 2013 by Molly Leave a Comment

Victory Project: Breaking Down the Walls of Captivity

Victory Project Logo

For a young man, a prison sentence may last much longer than the required six months or year term of incarceration. Recidivism is always a risk and is particularly high among individuals who enter the criminal justice system as juveniles. Upon release, many young men have no job skills and no prospects for an entry-level position. Ohio is no exception, with an unemployment rate of 25% for teenagers in general and 41% for black teenagers. Frustrated by the failure of the existing system to care for the youth, decorated law enforcement officer Monnie Bush founded Victory Project.

Victory Project is a faith based, not-for-profit organization that mentors court-involved and disadvantaged young men in Montgomery County. VP offers a fully accredited online high school with tutoring and GED preparatory classes. The facility serves up to twenty young men at a time, and they have dinner together five days a week. Monnie’s goal was to give these young men a chance, and the numbers suggest that he’s doing just that. For young men at Victory Project for six months or longer, the unemployment rate is just 8% and the program shows a 90% reduction in recidivism. The high school graduation rate for the program is over 95%.

When asked what makes his program so successful, Monnie points out that participation is completely voluntary. He offers disadvantaged youth a safe place to hang out and a group of like-minded peers, not to mention the opportunity for employment. He also notes that VP is entirely funded by private donations. Most of the young men in the program have been through the juvenile justice system, which means they have been involved in one or more state- or locally- run programs before. The problem with these programs, says Monnie, is that the kids know the programs receive a per diem allowance for each of them. They feel that people are helping them in order to get paid, not because they’re worth helping. At VP, the message is clear: Monnie and the donors that support VP want to help because you deserve a chance.

In addition to all of the above, VP makes our list because of their micro-business projects. The VP fellows don’t just provide labor – they write project proposals and manage projects and client relations. VP provides these young men with the opportunity to take part in genuine entrepreneurial enterprises; they learn how the businesses work and they reap the rewards of a job a well done. VP currently has micro-businesses involved in landscaping, demolition and recycling (they remove drywall, carpeting, and fixtures and donate any useable material to Habitat for Humanity), and auxiliary services such as moving, painting, and garage cleanup.

 To learn more, volunteer, donate, or inquire about services, visit the Victory Project website at http://www.victoryproject.org/.

Share on Facebook
Facebook
Tweet about this on Twitter
Twitter
Share on LinkedIn
Linkedin
Pin on Pinterest
Pinterest
Email this to someone
email

Filed Under: Dayton Community

June 27, 2013 by Molly Leave a Comment

The Dayton Regional STEM School: Science, Technology, Engineering, and Math Are All Around Us

STEM logo

Parents and teachers have long sought to make school interesting and engaging, rather than a chore. Science and math are particularly troublesome for many students; one survey suggests that math is the least favorite subject of almost half of students.

One Dayton school is trying new types of curriculum design, academic standards, and teaching practices and having considerable success in making math and science fun and interesting. This is good news for both students and parents; science and engineering jobs are currently growing 70% faster than other occupations. In today’s economic climate, a math and science background is a serious advantage.

 The Dayton Regional STEM, or Science, Technology, Engineering, and Math, School just celebrated the graduation of the Class of 2013, the first from the school. STEM provides an immersive, problem-based curriculum to foster scientific and engineering expertise, creative and critical thinking, and teamwork. STEM lessons include Energy, Power, and Propulsion; Advanced Manufacturing and Materials; Medicine/Human Performance; Air Systems; Agricultural Engineering; and Environmental Engineering. As you can see, this isn’t your average curriculum. “Math” and “science” are no longer subjects in isolation, but tools for understanding the world.

A specially-crafted curriculum is not the only thing that sets the Dayton Regional STEM School apart. One unique STEM program is Air Camp, a weeklong aviation and aeronautics summer camp adventure at Wright University. Students take flight training, learn about the mechanics of aviation, meet Air Force research scientists, and more. STEM also participates in TechFest, a convention with hands-on experiences and exhibits with guest speakers ranging from astronauts to renowned classical guitar players. STEM is making science and math interesting and fun for kids and building the next generation of scientific genius.

For more information, check out the website at http://www.daytonstemschool.org/.

Share on Facebook
Facebook
Tweet about this on Twitter
Twitter
Share on LinkedIn
Linkedin
Pin on Pinterest
Pinterest
Email this to someone
email

Filed Under: Dayton Community

June 24, 2013 by Molly Leave a Comment

The Foodbank : Leading the Charge to Relieve Hunger for our Miami Valley Neighbors

 

Foodbank logo

 

We covered dessert first (what would our mothers say?) but we don’t want to forget that some people struggle to eat at all. The Foodbank is, as the name suggests, a food bank. It also supports more than 100 other hunger relief programs. Every year, Foodbank provides millions of pounds of food to pantries, soup kitchens, and other distribution channels in Montgomery, Greene, and Preble counties. That translates to feeding about 70,000 hungry people annually; almost half of them are children.

The Foodbank and the pantries and soup kitchens to which it distributes food depend heavily on volunteer service and are funded by generous individuals and corporations as well as by Montgomery County.

According to Feeding America, of which The Foodbank is a member, 1 in 6 Americans faces hunger. The Foodbank is the only organization of its kind in the area, fighting back hunger in the Miami Valley.

An appalling 16.7 million children faced food insecurity in the United States in 2011.[i] The Foodbank Among others, The Foodbank runs the Kids Café program in the Miami Valley, which provides meals and snacks to children through other community locations such as Boys and Girls Club of Dayton, the Dakota Center, and the YMCA of Dayton.

The Foodbank also works to make sure children don’t go hungry over the weekend through the national Good-to-Go Backpack Program. Children in need receive a backpack full of nutritious, kid-friendly food to eat over the weekend. In order to prevent embarrassment, no one but the child knows what is in the backpack. In 2011, more than 44,000 backpacks were distributed.

The Foodbank’s website includes a calculator that shows how far your donation goes in the community. For $10, The Foodbank can produce 80 meals or buy $170 of groceries, more than 100 pounds of food.[ii] A donation of $500 means 4,000 meals or 5,000 pounds of food.[iii] That’s 4,000 children who can go to bed with full stomachs.

To learn more, volunteer, or donate, visit http://thefoodbankdayton.org/.

 

Share on Facebook
Facebook
Tweet about this on Twitter
Twitter
Share on LinkedIn
Linkedin
Pin on Pinterest
Pinterest
Email this to someone
email

Filed Under: Dayton Community

  • Go to page 1
  • Go to page 2
  • Go to Next Page »

Primary Sidebar

  • This field is for validation purposes and should be left unchanged.

Dayton Office

6826 Loop Rd
Dayton, OH 45459
United States
Phone: 937-401-5000
Fax: 877-845-1231

Footer

Dayton Office

6826 Loop Rd
Dayton, OH 45459
Map & Directions

Phone: 937-401-5000
Fax: 877-845-1231

Downtown Dayton

11 W Monument Ave, Ste 300
Dayton, OH 45402
Map & Directions

Phone: 937-648-0100
Fax: 877-845-1231

Springfield Office

49 E. College Ave, Suite 300A
Springfield, OH 45504
Map & Directions

Phone: 937-284-8139
Fax: 877-845-1231

Vandalia Office

812 East National Road, Suite A
Vandalia, OH 45377
Map & Directions

Phone: 937-387-1598
Fax: 877-845-1231

Copyright © 2025 · Cope Law Offices, LLC on Genesis Framework · WordPress · Log in