Bankruptcy

Learn About Your Bankruptcy Case

Don’t lose sleep! I am here to find a solution to your financial problems.

This may be the time when you need to protect what you have from aggressive bill collectors. Or you may simply be exhausted by the constant stress caused by your bills. Whatever your situation, you need the advice of an experienced bankruptcy attorney to improve your financial condition.

Don’t limit your advice to those who offer only instant relief. I work hard to improve both your short-term and long-term financial condition. And some types of bankruptcy cases require no upfront attorney fees.

Because each person’s financial situation is different, I work directly with you to find the best and most beneficial options.
Robert W. Heydorn provides one-on-one services that can solve your financial problems.

If you’re tired of trying self-help and want a solution to your stress and financial problems, contact Robert W. Heydorn and take advantage of his over 40 years of bankruptcy experience. (330) 842-2526 and  bobheydorn@hotmail.com 

How Bankruptcy Benefits You!

Is your debt causing you to feel overwhelmed? Call Bob to take the proper steps toward your financial freedom. He will guide you through the Chapter 7 or Chapter 13 bankruptcy case that is right for you.

Contact Bob today to put a stop to annoying creditors. Because every bankruptcy case is unique, he will listen closely to your goals in order to determine your best course of action.

Bob is ready to protect you from your creditors, wherever you are located throughout Akron, Summit County, and Northeastern Ohio. Keep reading to learn more about how a Chapter 7 or Chapter 13 bankruptcy can benefit you.

Chapter 7 Bankruptcy Cases

A Chapter 7 case is the classic form of bankruptcy. In almost every instance, as soon as you file your bankruptcy case you are protected under federal law by an “automatic stay.” This prevents your creditors from taking any legal action against you during bankruptcy. When your Chapter 7 bankruptcy case closes, usually within several months, your debts are discharged and are no longer owed (subject to certain exceptions for recent taxes, child support payments and student loans which are not discharged by your bankruptcy). In almost all cases, you will no longer owe your credit card bills, medical bills, payday loans, and many other types of bills, all of which are discharged in your Chapter 7 bankruptcy case. Under the bankruptcy laws your property will often be of little value to the Bankruptcy Trustee so the Trustee will abandon the property back to you. You are able to keep much of your property while no longer owing most of your debts.

If you have a mortgage or equity line of credit on your home and you are current with your monthly payments, you can keep your house. Under the bankruptcy laws, you are permitted to keep your home, reaffirm your mortgage debt, and continue making the monthly payments after your bankruptcy case closes. The bankruptcy laws also allow you keep certain items of personal property you want by paying the value of the specific items.

Chapter 7 bankruptcies are only available to persons who meet certain financial tests. Robert W. Heydorn can answer your questions and provide you with more information about Chapter 7 bankruptcies. Telephone (330) 842-2526 and  bobheydorn@hotmail.com

Chapter 13 Bankruptcy Cases

From the time we file your Chapter 13 bankruptcy case, you are protected from any legal action by your creditors. In a Chapter 13 bankruptcy case, you will pay your “disposable income” each month to the Bankruptcy Trustee for a period of three to five years. Your “disposable income” is what you have left over after you have paid your necessary monthly bills. At the end of your Chapter 13 bankruptcy plan, your debt is discharged the same as it is a in Chapter 7 bankruptcy case. Here are five important reasons why a Chapter 13 bankruptcy can be right for you.

Five Reasons Why a Chapter 13 Bankruptcy May Provide the Most Benefits for You

First, your regular monthly payments under your Chapter 13 plan provide evidence to lenders of your financial responsibility. This can help enhance your credit record.

Second, if you have a house, car, or other property with a mortgage or lien on it, you can make up past due payments and protect your property from being taken by your creditors.

Third, your Chapter 13 bankruptcy provides you with the maximum protection and flexibility for the future. After you file a Chapter 7 bankruptcy, you cannot file another Chapter 7 case for 8 years (or file a Chapter 13 case for 4 years). If you incur additional debts after you filed a Chapter 7, you cannot have bankruptcy protection which results in a discharge of those debts for several years after filing the Chapter 7. A Chapter 13 case avoids this problem.

If you incur additional debt after you file a Chapter 13, you can convert the same case to a Chapter 7 and discharge the additional debt, provided you qualified for a Chapter 7 by income in the first place. Further, in most cases you can dismiss your Chapter 13 case and start a new Chapter 13 case from the beginning. Your second Chapter 13 case can discharge the debt you incurred during your first Chapter 13 case. Finally, you can file another Chapter 13 case immediately after you complete your previous Chapter 13 case, with no waiting period. A Chapter 13 bankruptcy provides a practical way to discharge your future debt before it causes you a problem. A Chapter 7 bankruptcy does not have this kind of flexibility.

Fourth, if your family earns more than a certain amount of income as computed under the bankruptcy laws, then you cannot file a Chapter 7 case. In these cases, a Chapter 13 bankruptcy is your only option.

Fifth, we work with you to make your monthly payments in a Chapter 13 bankruptcy affordable. In a Chapter 13 bankruptcy, you pay only what you can afford to pay, not what your creditors want you to pay.

What about attorney’s fees?

Our attorney’s fees for your Chapter 7 case are very affordable for a reason. We are committed to putting you on the path to financial good health.

In a Chapter 13 case, depending on your financial situation, you may not pay us any attorney’s fees upfront. In this case, your attorney’s fees will be paid over time as part of your Chapter 13 plan. This means that your regular monthly payments to the Bankruptcy Trustee will also cover your attorney’s fees. Only a small upfront payment for court filing costs is required to begin your Chapter 13 bankruptcy.

Contact Us

There are benefits to both Chapter 7 bankruptcies and Chapter 13 bankruptcies. With decades of experience in all types of bankruptcy matters, I work to find an affordable option for you.

Now you have heard a PART of the story. To hear more about how bankruptcy can benefit you, contact Robert W. Heydorn at (330-842-2526) and bobheydorn@hotmail.com