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Chapter 13 Bankruptcy Versus Debt Consolidation In Ohio

In a challenging economy, individuals are bombarded with advertisements and suggestions regarding how they can strengthen their finances. It is wise to take the time to learn the benefits and costs of your options. An experienced bankruptcy lawyer can thoroughly educate you on your options and provide valuable insight regarding your best course of action.

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At Rauser & Associates Legal Clinic LLP, we are regularly asked to explain the differences between debt consolidation programs and Chapter 13 bankruptcy. The short answer is that Chapter 13 is the only true debt consolidation program. There are governmental regulations set forth in the Bankruptcy Code. Everything is handled through the court system, and there are significant penalties for creditors who do not honor the automatic stay and repayment program.

Debt Consolidation Pros And Cons

Conversely, debt consolidation often requires the direct negotiation with each of your creditors to reach an agreement. Since this agreement is not typically legally binding, the creditor can often change its mind and end the payment plan.

Chapter 13 bankruptcy limits the actions the creditors can take. Through the Chapter 13 repayment plan, you simply pay a trustee who, then, distributes money to your different creditors. You no longer have to interact with them.

Other benefits include:

  • Chapter 13 has a set repayment plan that is either three or five years depending on your income.
  • Chapter 13 typically requires you to only pay a percentage of your total debt rather than the full amount.
  • If a creditor violates the provisions of Chapter 13, it might be held in contempt of court.

Depending on your situation, Chapter 13 consolidation may be the right choice. You can count on the attorneys at Rauser & Associates Legal Clinic LLP to give you honest answers and a true assessment of your options. When you need a different level of service, contact any of our offices to schedule a free legal evaluation.

Contact Us

If you have further questions about the differences between Chapter 13 and debt consolidation, please schedule a free case evaluation by sending us a message online or calling 888-843-5787. Offices in Columbus, Cleveland, Akron, Youngstown, Canton and throughout Ohio. Someone is available six days a week to discuss your options.



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Rauser & Associates Legal Clinic LLP

Call: 888-8-HELP-US (888-843-5787) Fax: 216-263-6202

Akron Office

1 Cascade Plaza
Suite 1410
Akron, OH 44308
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Canton Office

401 W. Tuscarawas
Suite 400
Canton, OH 44702
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Cleveland Office

1468 W 9th St.
Ste. 300
Cleveland, OH 44113
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Columbus | Dayton Office

5 East Long Street
Suite 300
Columbus, OH 43215
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Toledo Office

316 North Michigan Street
Suite 420
Toledo, OH 43604
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Youngstown Office

26 Market Street
Suite 306
Youngstown, OH 44503
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Business Hours:
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Saturday: 9:00am – 1:00pm

During business hours, please expect a phone call within 5 minutes. If you are submitting a request after business hours, expect a call the following business day.