Make your Financial Decisions Easier with Badnell & Dick

Find the Best Fit for your Bankruptcy Claim.

As many of us have figured out, life is hard. Inevitably, debts will happen, and financial decisions will become a burden. Sometimes when you fall too deeply into debt, bankruptcy will be your ultimate decision. This decision should not be hard when you already have enough on your plate, and this is where we come in. At Badnell & Dick Co. LPA, we, with 25 years of service, will gladly help you in your time of need.

We offer two types of bankruptcy claims you can make with our attorneys: chapter 7 and chapter 13. Our experienced attorneys, with offices in Columbus, Dayton, Mansfield, Lima, and Canton, make the process of filing for bankruptcy easy and accessible for all of our clients. 

Chapter 7 allows individuals to discharge their debts, giving them a fresh financial start. Examples of debts that can be discharged include medical bills, credit cards, payday loans, repossessions, and civil judgments for vehicle accidents. The process only takes four to six months, and after your case is settled, you will learn how to manage your finances.

Our other option is a chapter 13 bankruptcy claim. This is open to individuals with a regular income who wish to pay off debts throughout a period of time and discharge other debts that are not paid. The process for this type of bankruptcy takes much longer because it gives the debtor time to repay their debts, which is usually 36-60 months for the case to settle. 

Bankruptcy comes with its own set of complications. We can help make the process easier. At Badnell & Dick LPA, we have experienced attorneys in offices around Ohio to make our clients’ lives easier during this time of financial crisis. If you are experiencing financial difficulties, call us today at (800) 234-9511 or visit our website to set up a free no-obligation consultation!

Is Bankruptcy Right for You and Your Credit?

 

Bankruptcy sounds terrible, but it's not the end of the world. It may even be the right option for you. Many patrons in the Mansfield, Columbus, and Canton, Ohio areas looking to file bankruptcy have done so successfully. Bankruptcy can alleviate a lot of everyday stress that could be detrimental to your health. It stops collection calls, lawsuits, threat letters in the mail, and the potential for wage garnishments. In a clear sense, it erases your debt. Despite what you’ve heard about the scary facts, bankruptcy may help your credit scores. So truth be told, credit bureaus and scoring experts often say bankruptcy is the single worst thing you can do to your credit and your ranking for future borrowed purchases. There are foreclosures which is the legal process by which a lender attempts to recover the amount owed on a defaulted loan by taking ownership of the mortgaged property and selling it; repossessions can occur when a credit account is delinquent, the lender can take action to repossess the property tied to the loan without notice, charge-offs are taken off the creditor's balance sheet when a payment is between 90 and 180 days past due. If no payment is made, creditors assume the debt is unlikely to be paid, and then the dreaded collections. Although these are severe factors for your score — nothing else can drive you down as fast and far as a bankruptcy. 

The critical thing to know is that’s not the whole story. Most people struggle so long with their debt that their credit is already battered by the time they file for bankruptcy. Once they decide to take the leap of faith, their scores typically rise, not fall. If the debt is erased or, as the court states, as a “discharge,” your score can begin to increase, and within a year, you may be way better off.
Having the right attorney can help you discharge your debts and help you identify which type of bankruptcy filing is right for your situation is crucial. At Badnell & Dick Co. L.P.A, we're here to help walk you through the process. To learn more, call 800-234-9511 or visit us online at www.badnellanddick.com.