Paolucci Bankruptcy Law

Chapter 7 bankruptcy, with help from attorney Dean Paolucci, sets you free of owing credit card companies, medical bills, auto loans, old utility bills, old cell phone bills, payday loans, and most unsecured debts. Filing Chapter 7 bankruptcy in Akron or Cleveland Ohio is governed by the United States Code and is a federal right.

If you're considering bankruptcy then you need to file either Chapter 7 or Chapter 13 bankruptcy. However, there are some requirements to be eligible to file in Akron or Cleveland, Ohio and one of them is the Chapter 7 means test.

This means test determines if your income is low enough to qualify for Chapter 7 bankruptcy and is intended to prevent people with substantial excess income (after all normal expenses) from filing Chapter 7. Should you fail the Chapter 7 means test, you may qualify for Chapter 13.You don't need very low income or be without a job to file Chapter 7 bankruptcy.

At least 21 days after filing Chapter 7 bankruptcy but no later than 40 days after you file, you're required to attend the meeting of creditors, called the 341 meeting. The 341 meeting of creditors is mandatory and your case will be dismissed if you do not go. It's not as bad as it sounds. It doesn't even take place in a court room.

Chapter 7 exemptions help determine which property you get to keep during and after your bankruptcy. The following is a list of commonly used exemptions in Akron, Ohio Chapter 7 bankruptcy cases. In Ohio, spouses filing jointly can use the full exemption amount for property in each of their names, essentially doubling the Ohio bankruptcy exemption amount.

During a Chapter 7 bankruptcy in Akron, the Ohio motor vehicle exemption helps determine if you can keep your vehicle. The Trustee cannot take and sell your car, truck, or van if its equity is less than Ohio's exemption amount of $3,675. If your vehicle's equity is exceptionally more than $3,675, the trustee may try to take your vehicle and sell it to pay your unsecured creditors.