Understanding Chapter 13 Bankruptcy: What Ohio Residents Need to Know

March 28, 2023

Understanding Chapter 13 Bankruptcy: What Ohio Residents Need to Know


Declaring bankruptcy can be an intimidating decision that affects many aspects of your life. At Roderick Linton Belfance, LLP, we understand the challenges that come with this process, which is why we're committed to assisting Ohio residents who need to file for bankruptcy. In this blog post, we'll discuss chapter 13 bankruptcy and how it can help individuals and families struggling with debt. We'll also answer common questions such as whether filing for chapter 13 bankruptcy will affect your job status. Keep reading to discover the benefits of this type of bankruptcy and how we can help you through the process.


Chapter 13 bankruptcy is a type of bankruptcy that allows individuals to restructure their finances and pay off their debts over time. This option may be ideal for those who earn a steady income and want to keep their assets, such as their home or vehicle. Under chapter 13 bankruptcy, debtors are required to create a repayment plan that details how their debts will be paid off in full over the course of 3-5 years. The amount of the monthly payment is determined by several factors, including the debtor's income, expenses, and other financial obligations.


One of the benefits of chapter 13 bankruptcy is that it can help you keep your assets and avoid foreclosure or repossession. If you're struggling to make mortgage or car payments, chapter 13 bankruptcy may provide relief by restructuring your debts and allowing you to catch up on missed payments. Additionally, chapter 13 bankruptcy may help you discharge some types of debt, such as credit card debt or medical bills. While you'll still have to pay off your secured debts (such as mortgage or car loans), chapter 13 bankruptcy can make it easier to manage your debts and regain financial stability.


If you're considering filing for chapter 13 bankruptcy, you may be wondering whether this decision will affect your job status. In general, filing for bankruptcy cannot be used as grounds to terminate an employee. However, certain jobs may require security clearance or a credit check, and filing for bankruptcy may affect your eligibility for these positions. It's important to speak with an experienced bankruptcy attorney who can advise you on your specific situation and any potential implications of filing for chapter 13 bankruptcy.


At Roderick Linton Belfance, LLP, we have extensive experience assisting Ohio residents with bankruptcy matters, including chapter 13 bankruptcy. Our team of attorneys can guide you through the process, help you create a repayment plan, and negotiate with your creditors on your behalf. We understand that filing for bankruptcy can be a stressful and complex process, but we're here to help you every step of the way.


Chapter 13 bankruptcy can be a valuable tool for individuals and families who are struggling with debt and want to regain financial stability. This type of bankruptcy allows debtors to restructure their debts and create a repayment plan that fits their budget and financial situation. At Roderick Linton Belfance, LLP, we're dedicated to helping Ohio residents navigate the bankruptcy process and find a solution that works for them. Contact us today to schedule a consultation and learn more about how we can assist you with your bankruptcy needs.

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