Chapter 11 Bankruptcy

How Bankruptcy Affects Your Taxes

You’re at a place where your debts are starting to pile up, and there’s no end in sight. That can feel really overwhelming, and tackling the issue can seem daunting. That’s why bankruptcy exists, and there’s no shame in taking control of your financial wellbeing and charting a clear path forward.
That said, it isn’t always easy. And there are plenty of moving parts...

Budgeting After Bankruptcy

Whether you’ve been through chapter 7 or chapter 13 bankruptcy in Ohio, coming out of the other end of the process can feel grim. Sure, you’re out from under the heavy weight of debt, but where to go from here? How can you begin a path toward credit recovery and establish a positive relationship with money moving forward? At Hausen Law, Ohio bankruptcy attorney James Hausen and his experienced...

Bankruptcy Questions Answered: What is a Preference Payment in Bankruptcy?

If you find yourself staring down insurmountable debt, a natural reaction could be to throw whatever money you do have toward one or more creditors in a desperate attempt to solve the problem. The sooner you make one source of debt disappear, the quicker you can get on the road to financial recovery, right? Well, as with so many things, the answer is that it depends on several factors–a major...

Why It Can Take So Long for Payout Recovery in Chapter 11 Bankruptcy

Here at Hausen Law, LLC we work day in and out with folks who are going through bankruptcy, so we usually share information directly related to their concerns. But there is another side to this coin: the creditors. Oftentimes the financial stress that the individual filing for bankruptcy brings on them can get lost in the conversation. So today we’re going to focus on creditors’ bankruptcy...

5 Common Misconceptions About the Chapter 11 Bankruptcy Process

The pandemic has hit many sectors of the economy pretty hard over the past couple of years, and we’ve seen an uptick in businesses filing for chapter 11 bankruptcy. It’s been awhile since we’ve seen this type of volume, and with a bankruptcy wave like this comes inevitable misunderstandings and misconceptions about how bankruptcy will affect a business, its customers and vendors.
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How to Spot a Debt Relief Scam [2022 Update]

Holding debt isn’t a problem if you’re able to pay it down. But if you find yourself swamped and stuck in a cycle that doesn’t let you pay off your debts, you could quickly become desperate to regain control. At that point it could be tempting to listen to any debt relief promise you hear.
Even if you tend to be wary of deals that sound too good to be true, when you’re in...

Bankruptcy Questions Answered: What is a Chapter 11 Reorganization Plan?

If your business is in a place where bankruptcy seems like the best way forward, it’s likely that you’ll be looking at a chapter 11 filing. Unlike chapters 7 and 13, chapter 11 bankruptcy is a way for businesses of all sizes to reorganize debt and initiate a plan to repay creditors, all while keeping their doors open.
What is Chapter 11 Bankruptcy?
Put simply, chapter 11 is a form...

How Does Bankruptcy Affect Your Credit Score?

Filing for bankruptcy at any time in your life can be a stressful, emotionally-taxing experience. But it’s never more difficult to take the bankruptcy route than when you also have long-term goals of buying a home or making another major purchase. You likely realize that bankruptcy can affect your credit score, but how much, and for how long?
Bankruptcy and Your Credit Score
First off, if...

Bankruptcy Questions Answered: Can I File For Bankruptcy Online in 2021?

As we close in on the second half of the year, experts are giving us reasons to hope that soon, life will be closer to what we used to consider normal. In-person events and meetings are happening more frequently, workers are returning to offices, and travel is possible again. But what does the return to in-person spell for bankruptcy proceedings? Can you file for bankruptcy online going forward?
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What Are the Benefits of Chapter 11 Bankruptcy?

Whether your business is a large corporation or a smaller enterprise, chapter 11 bankruptcy could be a beneficial move to keep it alive during an economic crisis. There’s a lot to know, but here we will focus on how a chapter 11 filing can help your business recover.
Why File for Chapter 11 Bankruptcy?
If your business is struggling under the weight of debt and it isn’t a sole proprietorship,...

How Do Virtual Court Hearings Work in Ohio?

All across Ohio, courts continue to be closed to the public due to the ongoing COVID-19 pandemic. But many of our clients still need to initiate or finalize bankruptcy proceedings. To ensure that they are safe and well taken care of during these difficult times, increased use of technology is vital. But it could be a potentially stressful or frustrating experience for some. So we’re here to explain...

Chapter 11 Bankruptcy

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