Answering Common Ohio Bankruptcy FAQs
During your no-obligation consultation, your bankruptcy attorney at Novak, Robenalt & Pavlik, L.L.P. will spend time with you. Our job is to identify your needs, map out strategies and answer your questions. Getting to the facts and overcoming the misconceptions is an important factor in making sound decisions regarding your financial future.
For personalized representation and individualized handling of your Chapter 7 or Chapter 13 bankruptcy filing, contact us at 216-592-8758 or toll free at 866-400-6637.
Frequently Asked Questions About Bankruptcy
At Novak, Robenalt & Pavlik, L.L.P., we serve as a vital information source for our clients with questions, including:
What is Chapter 7 bankruptcy and can I still file for it?
Chapter 7 bankruptcy is an agreement between you and your creditors to surrender nonexempt assets while they discharge your debts. In spite of 2005 bankruptcy reform, Chapter 7 still exists as a viable option.
What is Chapter 13 bankruptcy?
A Chapter 13 filing reorganizes your debts into a payment plan to your creditors over three to five years.
What is Chapter 11 and Chapter 12 bankruptcy?
Chapter 11 and Chapter 12 bankruptcies are focused on businesses. Chapter 11 protection is for corporations, LLCs and other business entities. Chapter 12 filings are for farms and fisheries.
Will I lose my home?
A Chapter 13 filing will stop foreclosure and give you time to renegotiate more affordable payments and possibly discharge second or third mortgages.
Will I lose my car?
Chapter 13 protection can prevent your car from being repossessed or have your car returned to you. You can also secure a repayment plan based on the car's true value that is more within your budget.
Do I have to attend a hearing?
Yes, but that is a small price to pay for debt relief. In addition, you will always have a bankruptcy attorney at your side.
Will my neighbors, friends and families find out about my bankruptcy?
While bankruptcy records are public, the chances of anyone finding out is minimal. They are not published on a website or in a newspaper.
Contact Us
For more information or to schedule an appointment with an experienced bankruptcy lawyer at our Cleveland-based law office, please contact us.
