Chapter 7 Bankruptcy Lawyer in Cleveland
Get the Fresh Start You Deserve: Helping Clients in Akron, Canton, Elyria,
& Garfield Heights
As one of Northern Ohio's largest consumer bankruptcy law firms, we are
proud to focus solely on
bankruptcy law and on helping our clients find relief from daunting debt. If you or if
someone you know is facing a devastating financial crisis, there may be
hope through filing a chapter 7 bankruptcy.
Our Cleveland bankruptcy attorneys can educate you on the requirements
for filing, the benefits of filing for this type of debt relief, and what
you can expect both during the process and after the bankruptcy has been
completed. Contact our firm today to learn more.
To file for and complete a chapter 7 bankruptcy, you must do the following:
- File a petition with the bankruptcy court
- File a statement of financial affairs
- File other information about your creditors, income, assets, etc.
- File a schedule of the exempt property named under the law
- Provide all tax returns and tax-related documents
- Attend a creditors' meeting
Protecting Your Assets in a Chapter 7 Bankruptcy Case
Once you know that filing for bankruptcy under Chapter 7 is the best option
for you, the next step is knowing when to file. Choosing the appropriate
time to move forward with your case is the best action you can take to
protect your assets and will improve the success of the filing. It is
also important to determine whether your specific debts are dischargeable
in a Chapter 7 bankruptcy case. In order to find out what assets are protected
from liquidation, we encourage you to consult with our firm.
Eligibility Requirements for Chapter 7 in Ohio
Not everyone will qualify for Chapter 7 bankruptcy and you will need to
take the “Means Test” to determine whether you qualify. You
may be excluded from having to take it if your income is far below the
median for your family’s size.
The "means test" for Chapter 7 is meant to determine if you have
enough disposable income for repaying your debts. Your income, essential
expenses, and the size of your family are all taken into account when
determining your disposable income, as well as any recent or upcoming
changes that will affect your income. If your household income falls under
the state median income, you qualify for Chapter 7. To prove your disposable
income, you will need to provide documentation regarding your income from
the past six months.
In addition to passing the means test, you must have not filed for bankruptcy
previously within a certain period. If you received a discharge through
a Chapter 7 case within the past eight years, or through a Chapter 13
case within the past six years, you will not be able to qualify for Chapter
7. You must also not have had a bankruptcy dismissed within the past 180 days.
Once it is determined that the individual qualifies, they can have all
debts discharged once the liquidation process is finalized. This will allow a “fresh
start” for debtors who need one. If Chapter 7 is not right for you,
we can help you discover the best fit for your financial situation, including
Chapter 13 bankruptcy.
Choose One of Ohio's Largest Consumer Bankruptcy Law Firms
If you are facing financial distress, there may be hope for a future without
it! Imagine a life free from debt and the possibilities that could be
available to you and your family without the weight of constant contact
from creditors. Don't hesitate to call our Cleveland bankruptcy lawyer
at Knevel Law Co. LPA as soon as possible to learn more about how we may
be able to help you find this financial freedom.
more than 45 years of combined legal experience in
creditor harassment defense and have filed more than 18,000 bankruptcy cases on behalf of our clients
across Northern Ohio in Cleveland, Akron, Canton, Elyria, and Garfield Heights.
Call (216) 450-6689 now to schedule your
free consultation to speak with our bankruptcy attorneys at Knevel Law Co. LPA.