Attorney Robert Ascenzo Ciotola is a Board Certified Specialist in consumer bankruptcy law by the American Board of Certification with 42 years experience representing over 35,000 bankruptcy clients with 19 convenient offices. We're here to provide information about the use of Chapter 7 and Chapter 13 in the U.S. Bankruptcy Courts in the State of Ohio.
We can help you, as a debtor, understand how Chapter 7 and Chapter 13 work, and how they can be used as an option to deal with financial problems.
We can help you, as a debtor, understand how Chapter 7 and Chapter 13 work, and how they can be used as an option to deal with financial problems.
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Which chapter is best depends on the nature of your debt and the nature and value of your assets. Chapter 7 is the most frequently selected kind of bankruptcy for individuals. The debtor receives a discharge of most unsecured debts within several months of filing the case. Most debts are dischargeable.
Chapter 7 is a proceeding in which a debtor basically says to the Bankruptcy Court "Take my non-exempt assets (property), sell them, use the proceeds to pay my debts and then discharge (cancel) the remaining unpaid debts." Most all Chapter 7 proceedings are no asset cases because each debtor is given certain exemptions by federal and state law.
Chapter 13 is a repayment plan for individuals with a regular source of income and some disposable income. Chapter 13 bankruptcy protects the debtor from collection efforts. While a debtor is in a Chapter 13, creditors have to stop lawsuits, garnishments, repossessions and foreclosures. A plan is worked out under which a debtor makes regular monthly payments to his or her creditors.
You expect certification from your doctor - expect it from your lawyer too. Board Certification means that the certified attorney has met rigorous, objective standards and has demonstrated knowledge in bankruptcy and/or creditors' rights law. Hiring an attorney with expertise in any specialized field of law can be a bewildering experience.
Are you Certified as a Specialist in Consumer Bankruptcy Law by the American Board of Certification? The American Board of Certification (ABC) is a nonprofit organization dedicated to serving the public and improving the quality of the bankruptcy law bars. ABC certification serves the public by allowing potential clients to make an informed decision in choosing bankruptcy and creditor's rights counsel.
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