The legal requirements for filing for bankruptcy in Ohio are outlined in Ohio Bankruptcy Law. To be eligible for bankruptcy, a person or business must complete a credit counseling course and meet certain income requirements. Under the means test, an individual's income is compared to the median income for the state of Ohio. If their income is below the median, they may be eligible to file for Chapter 7 bankruptcy. If their income is above the median, they may still be eligible to file for Chapter 7, but it may be more difficult. They may also be eligible to file for Chapter 13 bankruptcy.
A lawyer can help a person through the bankruptcy process by:
- Helping them determine which type of bankruptcy to file for based on their specific circumstances.
- Helping them complete the necessary forms and file them with the court.
- Representing them in court during bankruptcy proceedings.
- Negotiating with creditors on their behalf and helping them develop a repayment plan.
- Advising them on how to protect their assets and avoid future financial problems.
It's important to note that filing for bankruptcy may have limitations and exceptions. Some debts, such as student loans and taxes, may not be discharged in bankruptcy. Additionally, a person's credit score may be negatively impacted for several years after filing for bankruptcy.
If you are considering filing for bankruptcy in Ohio, it's important to speak with a licensed attorney who can provide you with specific advice based on your unique situation.
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