Chapter 7 Bankruptcy Lawyer in Lorain County, OH

Filing for bankruptcy in Lorain County, OH is not an easy decision to make. Chapter 7 Bankruptcy Lawyer Michael D. Doyle has been admitted to the United State District Court, Northern District of Ohio, where Bankruptcy cases are heard, for 25 years. His many years of experience as a Bankruptcy Attorney give him the expertise to advise you whether bankruptcy is an option that can be beneficial to you in difficult financial situations.

Bankruptcy Attorney Near You

Financial problems are stressful. Collection calls and garnishments can be embarrassing and financially devastating. Filing for bankruptcy ends the collection calls, lawsuits, wage garnishments and other attempts to collect your debts.

Declaring Bankruptcy in Ohio

There are two types of bankruptcy available to consumers seeking to declare bankruptcy: Chapter 7 Bankruptcy, and Chapter 13 Bankruptcy.

Chapter 7 Bankruptcy

• Often called a straight bankruptcy. Most filers qualify for this option.
• Most debts are discharged in this option, meaning you are no longer personally responsible for the debt. Bankruptcy usually cannot discharge most taxes, student loans, and domestic support obligations.
• Many assets, including homes, vehicles, household goods, jewelry, and retirement savings can be maintained unless they have significant value above an “exemption” amount determined by law. However, if you still have an outstanding loan on your home, vehicle or other asset that you wish to keep, you must continue to make the payments.
• In order to file under Chapter 7, you must have inadequate income to pay for debts after paying your reasonable living expenses. Chapter 7 Bankruptcy Lawyer Michael D. Doyle, conveniently located in Elyria, OH, can evaluate your situation and tell you if you qualify for this option.

Very Knowledgeable “Mr. Doyle knows the laws and how to relate to clients' concerns.” - James

Chapter 13 Bankruptcy

• Instead of being immediately discharged, your debts are restructured and paid back over three to five years under a payment plan that you can afford.
• Chapter 13 is an option for people with incomes too high or with assets too valuable to qualify for a Chapter 7 bankruptcy.
• Chapter 13 can often help you to avoid foreclosure.
• You can decide whether to keep your home and vehicle and continue to make payments or to surrender them to stop payments.
• If you have judgment liens or second mortgages, these can often be “stripped off” and converted to unsecured debt.

Direct and Personal Bankruptcy Attorney in Ohio

The office of Bankruptcy Attorney Michael D. Doyle is a debt relief agency. We help people file for bankruptcy under the bankruptcy code.

Unlike larger firms where you might be handed off to an assistant or junior attorney, at the office of Michael D. Doyle, you will receive direct and personal representation from Attorney Doyle himself. He will be your advocate from start to finish, ensuring that your case receives the attention and expertise it deserves. This personal approach allows for a deeper understanding of your situation and a more tailored legal strategy.

At the office of Michael D. Doyle, we recognize that every client's financial situation is unique and requires a personalized approach. Filing for bankruptcy is a significant decision, and we are committed to guiding you through this challenging time with compassion and expertise. Our primary goal is to help you achieve financial stability and peace of mind.

We take the time to understand your specific financial goals and concerns. Whether you are focused on stopping collection calls, avoiding wage garnishments, or retaining essential assets like your home and vehicle, we will tailor our approach to meet your needs. Attorney Michael D. Doyle will work closely with you to develop a strategy that aligns with your objectives and provides you with the best possible outcome.

One of the primary concerns for individuals considering bankruptcy is the potential loss of assets. We understand the importance of retaining your home, vehicle, household goods, and retirement savings. Attorney Doyle will guide you through the exemption laws and help you protect your valuable assets, ensuring that you can maintain your standard of living while addressing your financial challenges.

While bankruptcy can impact your credit score, it also offers a path to financial recovery. Attorney Doyle will help you understand the long-term effects of bankruptcy on your credit and provide guidance on steps you can take to rebuild your credit post-bankruptcy. By following a strategic plan, you can work towards a stronger financial future.

Our ultimate goal is to help you achieve a fresh financial start. Whether through Chapter 7 or Chapter 13 bankruptcy, Attorney Michael D. Doyle will work tirelessly to help you discharge or restructure your debts, stop collection actions, and protect your assets. We are dedicated to providing you with the support and expertise needed to navigate this challenging time and emerge with a brighter financial future.

Free Initial Bankruptcy Consultation in OH

Call today for your free initial consultation. While you are here, you can confidentially discuss your situation with Chapter 7 Bankruptcy Lawyer Michael D. Doyle, who will personally meet with you and advise you of your options. Attorney Doyle will explain how the Bankruptcy Code allows individuals who can no longer pay their bills to have a fresh start while keeping much of their property.

Attorney Michael D. Doyle has many years of experience dealing with personal bankruptcy. He will be there for you along every step of the process, from the preparation and filing of the Bankruptcy petition to the meeting of your creditors and until discharge. If issues in your case require a hearing, he will be the one to represent you. Your case will not be assigned to another attorney who is not familiar with your personal situation. Payment plans are available for the fees, and full payment is not required before starting your case. You can start your retainer with a minimum payment of $100.00.

Call the Elyria, OH office of Chapter 7 Bankruptcy Lawyer Michael D. Doyle today for your free initial consultation to discuss your case and how you can be assisted in achieving a debt-free life.

Frequently Asked Questions About Chapter 7 Bankruptcy in Lorain County, OH

• How does filing for Chapter 7 bankruptcy in Lorain County, OH, help me with my debt?
  • Filing for Chapter 7 bankruptcy in Lorain County, OH, can discharge most of your unsecured debts, such as credit card debt, medical bills, and personal loans. This means you are no longer legally required to pay these debts, giving you a fresh financial start. However, some debts, like most taxes, student loans, and domestic support obligations, generally cannot be discharged. This is not always the right path for everyone, so make sure to schedule a consultation so we can review your unique situation.
• What is the difference between Chapter 7 and Chapter 13 bankruptcy?
  • Chapter 7 bankruptcy involves the liquidation of non-exempt assets to pay off creditors and discharges most remaining debts. It is suitable for individuals with limited income who cannot repay their debts. Chapter 13 bankruptcy, on the other hand, involves a repayment plan where debts are restructured and paid off over three to five years. This option is for individuals with higher incomes or valuable assets they wish to retain.
• How can I protect my assets when filing for Chapter 7 bankruptcy in Lorain County, OH?
  • Ohio law allows for certain exemptions that protect specific assets from being liquidated in a Chapter 7 bankruptcy. These exemptions can include your home, vehicle, household goods, jewelry, and retirement accounts up to certain value limits. Attorney Michael D. Doyle will help you understand these exemptions and how to maximize them to protect your most important assets.
• What are the eligibility requirements for filing Chapter 7 bankruptcy?
  • To be eligible for Chapter 7 bankruptcy, you must pass the means test, which compares your income to the median income for a household of your size in Ohio. If your income is below the median, you qualify for Chapter 7. If it is above, you may still qualify based on your expenses and debts. Attorney Michael D. Doyle will help you navigate the means test and determine your eligibility.
• How will filing for Chapter 7 bankruptcy affect my credit score?
  • Filing for Chapter 7 bankruptcy will negatively impact your credit score and remain on your credit report for up to 10 years. However, it also offers a way to eliminate overwhelming debt, which can be the first step towards rebuilding your credit. Over time, with responsible financial behavior, you can improve your credit score and achieve a healthier financial future.
• Can I include all my debts in a Chapter 7 bankruptcy?
  • Most unsecured debts, such as credit card debt, medical bills, and personal loans, can be included in a Chapter 7 bankruptcy. However, certain debts, like most taxes, student loans, child support, and alimony, typically cannot be discharged. Attorney Michael D. Doyle will review your debts and advise you on which ones can be included in your bankruptcy filing.
• How do I start the Chapter 7 bankruptcy process in Lorain County, OH?
  • To start the Chapter 7 bankruptcy process, schedule a free initial consultation with Attorney Michael D. Doyle. During this meeting, you will discuss your financial situation, and Attorney Doyle will provide an assessment of your eligibility and options. He will guide you through the necessary steps, including gathering financial documents, completing required forms, and filing your bankruptcy petition with the court.