Chapter 7

Bankruptcy Attorney in Toledo, Ohio

Comprehensive Advice in Chapter 7 Proceedings

If your debt has become unmanageable, whether as a result of the loss of a job, a serious injury or other circumstances, you may be considering bankruptcy as a way to get a fresh start. You want to work closely with an experienced and knowledgeable bankruptcy lawyer, so that you understand the benefits and consequences of filing for bankruptcy and can make informed decisions that are in your best interests. Please read the attached article explaining exemptions.

At the Thom Cafferty Law Office, in Toledo, we handle all matters related to Chapter 7 bankruptcy filings, from the determination of whether you qualify for the discharge of debts through liquidation of assets to the finalization of your bankruptcy. We will work closely with you throughout the process, making certain that you always know the status of your case. We understand the anxiety that can accompany a legal proceeding and offer comprehensive counsel in a relaxed and informal environment. To schedule a no obligation, one-hour initial consultation, contact our offices or call us at 419-244-0169.

Filing for Chapter 7 Bankruptcy

When you retain us to represent you in a bankruptcy matter, we will first determine what type of bankruptcy proceeding may be suitable for your situation. In a Chapter 7 bankruptcy, you are allowed to discharge certain debts in exchange for the sale (or liquidation) of non-exempt assets.

The Bankruptcy laws require a means test to determine your eligibility to file under Chapter 7, and we will work closely with you to perform the analysis. If you’re not eligible to file under Chapter 7, we will discuss your option to seek personal bankruptcy protection with a Chapter 13 repayment plan.

Before we file a petition in bankruptcy, we will make certain that you understand which debts can be discharged and which cannot (such as student loans, child support arrearages and certain tax obligations). We will also make certain that all eligible assets, such as your principal residence and motor vehicle, are not included in any sale of assets. We will also address ways to deal with secured debt, including:

  • Redemption - keeping the asset by paying the creditor the fair market value.
  • Reaffirmation - keeping the asset by entering into a new loan agreement.
  • Surrender - giving the property back to the creditor

As a part of our representation, we will discuss the services that may be available to you from credit counseling agencies. We will help you understand the bankruptcy process, including the timetables and milestones within the process. We will address any attempts by your creditors to circumvent the bankruptcy process through garnishment, foreclosure or repossession.

Appearing in Court

Approximately 8 weeks after filing your Chapter 7 petition, you will be required to appear before the Trustee assigned to your case. This hearing (referred to as the Meeting of Creditors) is not in a courtroom, but in a hearing room maintained by the Court. Depending on where you live in the 21 counties of NW Ohio, your hearing will either be at the Lima Federal Building or at the Ohio Building in downtown Toledo (across the street from the Thom Cafferty Law Office).

Attorney Cafferty will meet with you beforehand and appear with you during the hearing. The Trustee will ask you about your assets, income, debts, creditors, property transfers and other matters related to your bankruptcy petition. For most people, this will be the only hearing that you will be required to attend throughout the process. However, there are certain situations that may cause you to appear in Bankruptcy Court, and Attorney Cafferty will discuss these situations in detail with you before you file a bankruptcy petition.

Geographic Areas of Bankruptcy Representation

For Bankruptcy representation, we represent residents in Allen, Auglaize, Defiance, Erie, Fulton, Hancock, Hardin, Henry, Huron, Lucas, Marion, Mercer, Ottawa, Paulding, Putnam, Sandusky, Seneca, Van Wert, Williams, Wood and Wyandot counties.

Contact our offices to schedule a no obligation one-hour consultation.

Please download the intake package and complete the questionnaire, and the property, income and expense schedules and bring to your consultation.

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Approved credit counseling agencies in the Northern District of Ohio