To file for bankruptcy in Ohio, you must first complete a credit counseling session with an approved agency within the six months before filing. Additionally, you must complete and file a bankruptcy petition with the Ohio bankruptcy court, which includes a schedule of assets, debts, income, and expenses.
There are two types of bankruptcies available to individuals in Ohio: Chapter 7 and Chapter 13. In Chapter 7 bankruptcy, you must pass a means test to determine your eligibility based on your income and expenses. If your income is below the state median, you may be eligible to file for Chapter 7 bankruptcy. In Chapter 13 bankruptcy, individuals create a payment plan to pay off their debts over time.
The process of filing for bankruptcy can take several months, typically ranging from four to six months. After filing the bankruptcy petition, you will need to attend a meeting of creditors where you will answer questions under oath about your finances. Your creditors will also have an opportunity to attend the meeting and ask questions.
After the meeting of creditors, the court will review your case and, if approved, discharge or eliminate your debts. The length of time it takes for the court to issue the discharge can vary depending on the complexity of your case.
It’s important to note that bankruptcy is a complex legal process, and it’s important to consult with an experienced bankruptcy attorney to fully understand your options and the potential outcomes. They can advise you on the best course of action and help you navigate the legal requirements and procedures. Additionally, bankruptcy may not be the best solution for everyone, and it’s important to consider all available options before making a decision.
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