Bankruptcy and Personal Debt
Although financial or political issues may affect why a government goes into debt, overspending is usually the culprit. While it is true that personal debt is at an all-time high, overspending is usually not the problem for individuals. People go into debt primarily due to some combination of family emergencies and lost income. For example, a person may be diagnosed with a serious illness at the same time as their health insurance is scaled back. Or, a person may be downsized at work. An Ohio bankruptcy attorney can help you and your family through these tough situations.
An Ohio bankruptcy lawyer can show you how bankruptcy eliminates debt. Most personal debt like credit cards and medical bills is unsecured. Payday loans and other signature loans also belong in this category. In a Chapter 7 bankruptcy, nearly all of these debts are dischargeable. Student loans may also be eliminated in some cases.
Maybe your family is having problems staying current on secured debt, such as your house or your car, and your creditor is threatening repossession or foreclosure. An Ohio bankruptcy lawyer can stand between you and predatory lenders, stopping adverse actions and giving you time to repay your debts.
At Young, Reverman and Mazzei, we help thousands of Ohio families with their legal and financial problems. Find out what bankruptcy can do for you. Contact Young, Reverman and Mazzei to schedule your free consultation.