What Are White Collar Crimes in Ohio?

"Learn how personal loans and payday loans are handled in Ohio bankruptcy. Steven J. Heimberger, Attorney at Law, helps Akron residents navigate debt relief through Chapter 7 and Chapter 13."

Concerned about losing your home during bankruptcy in Ohio? Learn how the homestead exemption and your bankruptcy chapter can help you protect your house. Roderick Linton Belfance, LLP assists Akron homeowners through the process.

Learn which debts can be discharged in Chapter 13 bankruptcy in Ohio, including credit cards, medical bills, and more. Roderick Linton Belfance, LLP helps you navigate debt relief.

Facing foreclosure in Ohio? Learn how Chapter 13 or Chapter 7 bankruptcy can help protect your home. Roderick Linton Belfance, LLP assists Akron homeowners with legal solutions.

Discover effective legal tools to avoid probate in Ohio, including living trusts, joint ownership, and beneficiary designations. Roderick Linton Belfance, LLP offers personalized estate planning services to help Akron families protect their assets and simplify inheritance.

Running a small business is a dream for many entrepreneurs, but it comes with many challenges. The financial toll can leave one feeling overwhelmed and uncertain about the future. We understand that facing bankruptcy as a small business owner can be scary. However, with the right guidance and strategies, it is possible to recover and grow. Filing for bankruptcy can help a struggling business owner survive and ultimately thrive. WHAT IS BANKRUPTCY? The word ‘bankruptcy’ has a negative connotation. However, it’s important to not be afraid of it but instead seek to understand what it means. Bankruptcy is a legal process designed to help businesses eliminate or repay their debts under the protection of the federal bankruptcy court. Below are three steps to help small business owners feel empowered to revive their business with the help of a trusted advisor. A ssess Your Financial Situation Before taking the significant step of hiring a bankruptcy attorney, it is crucial to assess your financial situation. The first step in navigating bankruptcy as a small business owner is to take a comprehensive look at your finances. This includes managing your cash flow and reviewing all your assets and liabilities. This comprehensive assessment will provide a clear picture of whether bankruptcy is the most viable option for your business. It’s also important to gather all necessary financial documents. For example, putting together balance sheets, income statements, and tax returns. By compiling all of these ahead of time, you are not only helping yourself but also your future attorney. Keeping these organized will save you time. Research and Select a Qualified Attorney Choosing the right attorney is a critical step. An experienced attorney will be able to advise you on the steps to take prior to filing bankruptcy. They will then be able to guide you through the complexities of bankruptcy law and help you make informed decisions for you and your business. Finding an attorney who has experience in working with small businesses and has a track record of handling cases like yours is crucial. This is not something you will find at a small business workshop. However, you can seek referrals of attorneys from your professional network. There might be another small business owner you know that has walked in your shoes and has a recommendation. Consult with the Attorney and Plan the Next Steps Once you have selected an attorney, schedule a consultation to discuss your situation. Your first meeting will be an opportunity to ask questions, understand the bankruptcy process and develop a strategic plan for moving forward. Be prepared with a list of questions and topics to cover (such as differences between Chapter 7 and Chapter 11), what the costs are, potential timeline, and the impact filing will have on your business. It’s important to work with your attorney on a strategic plan so you have a clear path to stay on track. By following these three essential steps, you can approach filing bankruptcy with confidence. The goal is to achieve the best outcome for your business that allows you to rebuild and move forward. Current Issues in Today’s Economic Environment Though small businesses encounter many challenges throughout their life cycle, one of the most common issues facing small business owners today is dealing with the challenges that come from obtaining SBA loans due to the impact of COVID-19. Many small businesses obtained either EIDL or PPP loans from the SBA to cover short term costs with the expectation revenues would return to normal after the pandemic. When the business’ revenues did not return to pre-COVID levels, business owners were confronted with much higher fixed costs and less revenue in which to operate. In many of our client’s cases since the onset of COVID-19, we have been able to either restructure or greatly reduce a client’s SBA debt through a Chapter 11 proceeding, or more specifically, a subchapter V proceeding. If you are looking for an experienced, bankruptcy attorney who focuses in working with small businesses, please contact the Chair of our Bankruptcy Group Steve Heimberger at 330-434-3000 or sheimberger@rlbllp.com

Common Mistakes Business Owners Make in Divorce (And How to Avoid Them) Divorce is a complex process for any couple, but for business owners, it presents additional legal and financial challenges. The fate of a business can become entangled in divorce proceedings, potentially jeopardizing its future. At Roderick Linton Belfance, LLP, we help Ohio business owners navigate these complexities and avoid common mistakes that can lead to costly consequences. 1. Failing to Separate Business and Personal Finances One of the most common mistakes business owners make is not keeping their business finances separate from personal assets. If business and personal funds are commingled, it can be difficult to prove which assets belong to the business and which belong to the marital estate. To avoid this, maintain separate accounts and records and keep detailed financial documentation. 2. Underestimating Business Valuation Business owners sometimes assume their valuation will be straightforward or that their spouse will accept their estimate. However, courts require a formal business valuation, often conducted by financial experts. Undervaluing or overvaluing the business can lead to unfair settlements. Working with an experienced business appraiser ensures an accurate valuation. 3. Not Having a Prenuptial or Postnuptial Agreement A well-drafted prenuptial or postnuptial agreement can clarify how a business will be treated in the event of a divorce. Without one, a business may be considered marital property, subject to division. Business owners can protect their interests by proactively creating a legal agreement outlining ownership rights. 4. Ignoring the Impact of Divorce on Business Operations Divorce can be time-consuming and emotionally draining, leading to business neglect. Some owners find themselves distracted, which can impact productivity and revenue. Establishing a clear strategy, delegating responsibilities, and seeking legal guidance can help ensure business continuity. 5. Trying to Hide Business Assets Some business owners attempt to shield assets from division by transferring ownership, hiding income, or manipulating financial records. Courts take a strict stance against such practices, and if discovered, it can lead to penalties and unfavorable rulings. Transparency is key to avoiding legal repercussions. 6. Failing to Consider Buyout or Settlement Options If a business is considered marital property, the spouse may be entitled to a portion of its value. Business owners should explore buyout or settlement options to maintain full control. This might involve structured payments, asset exchanges, or refinancing. 7. Overlooking Tax Implications Dividing a business in divorce can have significant tax consequences. Missteps in asset division, buyouts, or restructuring can lead to unexpected tax liabilities. Consulting with financial and legal professionals ensures tax-efficient solutions. Protecting Your Business in Divorce  Business owners facing divorce must take proactive steps to safeguard their business interests. At Roderick Linton Belfance, LLP, we assist Ohio business owners in structuring fair settlements while minimizing disruptions to their operations. Proper planning, expert valuation, and strategic negotiation can help protect both the business and personal financial well-being.

Understanding Workplace Discrimination in Ohio: Know Your Rights Workplace discrimination is a serious issue that can negatively impact employees’ careers, mental well-being, and financial stability. Ohio workers are protected by both federal and state laws that prohibit discriminatory practices in employment. If you believe you have been treated unfairly due to a protected characteristic, understanding your rights is the first step in seeking justice. What is Workplace Discrimination? Workplace discrimination occurs when an employer treats an employee or job applicant unfairly based on protected characteristics rather than their qualifications or job performance. These characteristics include: Race, color, or national origin Sex, gender identity, or sexual orientation Religion Disability (physical or mental) Age (40 and older) Pregnancy Military status or veteran status Genetic information Discrimination can take many forms, including wrongful termination, failure to promote, pay disparities, and hostile work environments. Types of Workplace Discrimination Hiring and Firing Discrimination – Employers cannot refuse to hire or fire someone based on a protected characteristic. For example, refusing to hire a qualified candidate because of their race is unlawful. Wage and Promotion Discrimination – Employees must be given equal pay and promotion opportunities based on their qualifications, not their sex, age, or other protected factors. Harassment and Hostile Work Environment – If an employee faces repeated offensive remarks, bullying, or unwanted advances based on a protected characteristic, this can create a hostile work environment. Retaliation – Employers cannot retaliate against employees who report discrimination or participate in workplace investigations. Disability and Religious Accommodation – Employers must provide reasonable accommodations for employees with disabilities or religious practices unless doing so would cause undue hardship. Ohio Laws on Workplace Discrimination In addition to federal protections under Title VII of the Civil Rights Act, the Americans with Disabilities Act (ADA), and the Age Discrimination in Employment Act (ADEA), Ohio’s Ohio Civil Rights Act (OCRA) further protects employees from workplace discrimination. The Ohio Civil Rights Commission (OCRC) enforces these laws, investigating claims of discrimination and taking legal action against employers who violate them. What to Do If You Experience Workplace Discrimination If you believe you have been discriminated against in your workplace, take the following steps: Document Everything – Keep records of discriminatory actions, emails, performance reviews, and witness statements. Report the Issue Internally – Many companies have HR policies for handling discrimination complaints. File a Complaint with the OCRC or EEOC – If internal reporting does not resolve the issue, you can file a complaint with the Ohio Civil Rights Commission (OCRC) or the Equal Employment Opportunity Commission (EEOC). Seek Legal Assistance – Consulting an attorney can help you understand your legal options and build a strong case for justice. How Roderick Linton Belfance, LLP Can Help At Roderick Linton Belfance, LLP, we are committed to protecting workers’ rights in Akron, Ohio. If you have been a victim of workplace discrimination, our skilled employment law attorneys can help you navigate the legal process, file claims, and fight for the compensation and justice you deserve. Contact us today for a consultation. 

Who Qualifies for Chapter 11 Bankruptcy in Ohio? Chapter 11 bankruptcy is often associated with large corporations, but it’s a flexible option available to a wide range of individuals and businesses facing financial difficulties. At Roderick Linton Belfance, LLP, we assist the Akron public in understanding and navigating Chapter 11 bankruptcy to regain financial stability. What Is Chapter 11 Bankruptcy? Chapter 11 bankruptcy, also known as "reorganization bankruptcy," allows businesses and individuals to restructure their debts while continuing operations. Unlike Chapter 7, which involves liquidating assets, Chapter 11 focuses on developing a repayment plan to satisfy creditors over time. Who Qualifies for Chapter 11 Bankruptcy in Ohio? Businesses Corporations: Both large and small corporations can file for Chapter 11 to reorganize their debts and continue operations. Partnerships: Partnerships facing financial challenges can use Chapter 11 to restructure debts while preserving the business. Limited Liability Companies (LLCs): Chapter 11 offers a pathway for LLCs to reorganize their financial obligations. Individuals Individuals with substantial debts who do not qualify for Chapter 13 due to debt limits may file for Chapter 11. This includes: High-income earners with significant business or personal debt. Individuals with complex financial situations involving multiple properties or business interests. Small Businesses (Subchapter V) In 2019, the Small Business Reorganization Act introduced Subchapter V to streamline the Chapter 11 process for small businesses. To qualify: The business must have noncontingent, liquidated debts under approximately $7.5 million. At least 50% of those debts must arise from commercial or business activities. Subchapter V is designed to reduce costs and simplify the reorganization process, making Chapter 11 more accessible to small businesses. Benefits of Chapter 11 Bankruptcy Business Continuation: Allows businesses to remain operational while addressing debt issues. Debt Restructuring: Offers flexibility in renegotiating payment terms with creditors. Automatic Stay: Immediately halts creditor collection efforts, giving the filer time to develop a repayment plan. How Roderick Linton Belfance, LLP Can Help Navigating Chapter 11 bankruptcy can be complex, but you don’t have to face it alone. At Roderick Linton Belfance, LLP, we provide personalized legal assistance to the Akron public, helping businesses and individuals explore their options, develop reorganization plans, and work toward financial recovery. If you’re considering Chapter 11 bankruptcy in Oh io, contact us today to schedule a consultation. Let us help you take the first step toward a stronger financial future.