Bankruptcy Lawyers in Canton
Once debt starts to accumulate, it can snowball very quickly. Unforeseen circumstances outside of your control can arise and inhibit your ability to pay medical bills, mortgage, credit cards or other bills. When this happens, you might be pursued by debt collectors and eventually face a collection agency lawsuit. Although your situation feels dire, you do have options, and they begin with reaching out to the Rauser & Associates serving Canton, Ohio, and the surrounding area. Our lawyers are highly experienced in all aspects of debt and bankruptcy, and we can provide you with tailored legal advice to handle your unique position.
Filing For Bankruptcy in Ohio
If you have been served with a debt collection lawsuit by your creditors, bankruptcy could be the answer to your problems. Filing for bankruptcy relief stops a lawsuit and potentially eliminates your obligation to pay back the debt. Many people file for bankruptcy due to excessive credit card debt, which can be eliminated in most cases by filing for Chapter 7 or Chapter 13 bankruptcy. Additionally, businesses facing overwhelming debt have three options: bankruptcy Chapters 7, 11, and 13.
In Chapter 7 Bankruptcy, most or all of your unsecured debt, such as medical bills, personal loans and credit card debt, will be wiped out. Some caveats to Chapter 7 are that you cannot wipe out debt incurred due to fraud, and you cannot keep property when the debt is secured.
In Chapter 13 Bankruptcy, you would set up a payment plan to repay your creditors over a set timeframe that is within your budget and approved by a judge. This method usually provides for payment of only a portion of your unsecured debt and a trustee divvies up that amount to your creditors on your behalf.
If you are successful in your case, you will receive a bankruptcy discharge, which wipes the slate clean on your debts. Seeking help from experienced debt relief lawyers can help make the process of bankruptcy and collections lawsuits less stressful for you. The lawyers at the Rauser & Associates specialize in matters of debt and bankruptcy and you can be assured they will help you make the best decisions for the most desirable outcome in your case.
Call Rauser & Associates Today
Don’t delay. Get your debt out of your life and breathe easy again. Contact the Canton, Ohio office at [custom: phone].
