Columbus Bankruptcy Lawyer Helping You Take Control of Your Debt

Financial challenges cause an immense amount of stress. It is natural to feel overwhelmed and to be hesitant to consider bankruptcy as an alternative. Filing for bankruptcy is not the end of your financial life; it is one of the oldest protections provided by law designed to give people a fresh start. At Robert L. Caplan Attorney at Law, Mr. Caplan works with individuals and families who are experiencing significant financial challenges due to:

• Home foreclosure
• Medical bills
• The loss of your job
• Credit card debt
• The death of a spouse
• Wage or income garnishment

He invites you to contact an experienced Columbus bankruptcy attorney online, or call his firm at 614-252-2026 to schedule an appointment for a free initial consultation. Mr. Caplan will work with you to understand your unique situation and make recommendations to help begin to resolve your problems.

Chapter 7 And Chapter 13 Bankruptcy Options

There are two basic types of personal bankruptcy: Chapter 7 bankruptcy and Chapter 13 bankruptcy. A Chapter 7 bankruptcy is designed to discharge all existing allowable debts and provide a fresh start. In Chapter 13 bankruptcies (also known as restructuring or reorganization), we can develop a plan to protect many of your assets, including your home or car. I will develop a plan to repay a portion of the debt you owe over three to five years, in a payment plan which can easily work for your budget. The rest of the allowable debt will be discharged with the completion of the plan. I will work with you throughout the process, including representing you at a bankruptcy hearing called the meeting of creditors.

Frequently Asked Questions About Bankruptcy

Bankruptcy can raise questions about your income, debts, credit and family finances. The following answers explain issues you may need to consider before deciding how to address your debt:

What is the means test in bankruptcy?

The means test reviews your income, household size and certain allowed expenses. It helps determine whether you may qualify for Chapter 7 or whether your circumstances point toward Chapter 13. The calculation compares your income with current median-income data and may also examine your disposable income. Because the figures and allowed deductions can change, your result depends on the information that applies when you file.

What debts cannot be eliminated through bankruptcy?

Bankruptcy does not eliminate every type of debt. Certain tax obligations, domestic support duties and many student loans may remain after your case. Debts tied to fraud, intentional injury or some criminal penalties may also survive bankruptcy. The outcome can depend on the type of debt, the bankruptcy chapter and whether a creditor asks the court to rule that a debt is not dischargeable. Reviewing your obligations can help you understand which balances may remain.

How does bankruptcy affect my credit score?

A bankruptcy filing will likely lower your credit score, although the size of the change depends on your credit history before filing. The bankruptcy may remain on your credit report for up to 10 years. However, its effect does not prevent you from taking steps toward stronger credit over time. Paying new obligations on time, keeping balances manageable and checking your reports for errors can support that process. Learn more about how you may rebuild your credit after bankruptcy.

Should I file bankruptcy with my spouse or separately?

You and your spouse may file a joint case or one spouse may file alone. The right approach depends on who owes the debts, how your property is titled, your household income and whether either spouse has separate assets or obligations. Filing together may address shared debts in one case, while an individual filing may leave the other spouse responsible for joint accounts. Reviewing the full financial picture can help you decide which option fits your circumstances.

Contact Robert L. Caplan, An Experienced Columbus Bankruptcy Lawyer

Mr. Caplan can help you to keep your home or car, and to put a stop to the harassing phone calls and letters from creditors and collectors. Contact him today online or call his firm at 614-252-2026 to schedule a free consultation. Start now to work on an end to the pressure, and to build a hope for your future.

Robert L. Caplan is a debt relief agent. He helps people file for bankruptcy relief under the Bankruptcy Code.