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Bankruptcy Law

U.S. Bankruptcy Judge Clears way for Largest Municipal Bankruptcy to Proceed

Bankruptcy Attorney Zachary Bushatz Practices Bankruptcy Law In Greene, Montgomery and Clark Counties. U.S. Bankruptcy Judge Thomas E. Bennett issued an order allowing Jefferson County, Alabama, the state’s largest county, to remain in bankruptcy.  Creditors of the county argued that Alabama law permits bankruptcy only for bond debt and asked the judge to dismiss the case during a hearing in December.  The county argued that the creditors were misapplying state law in hopes of getting the case dismissed and that any government in the state can go bankrupt no matter what kind of debt they hold. Judge Bennett ruled Jefferson County was...

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Dayton Bankruptcy Attorney Zachary Bushatz: The Bankruptcy Timeline

Are you considering filing for bankruptcy?  Have you wondered how long it will take?  Do you want to know what timelines apply to your case?  I have created this bankruptcy timeline to help you understand what happens in your bankruptcy case and when it happens.  If you are like most people, you probably believe you have no rights or protection available and are going to end up losing everything important to you including your job.  This is not the case. You do have rights and can do something about your financial difficulties.  The law office of Zachary Bushatz helps people protect their...

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Bankruptcy, Where to Begin

Filing for bankruptcy is the process of obtaining a fresh start from overwhelming debt.  Be it credit card debt, payday loans, medical bills or the debt generated by a divorce or  failed business, a bankruptcy can give you relief.  Let bankruptcy attorney Zachary Bushatz help you through this troubling time by explaining the filing process, helping you decide if a Chapter 7 bankruptcy or a Chapter 13 bankruptcy is appropriate.  Let him help you keep your car, keep your house and get back to working hard toward an attainable future. The most important step in the bankruptcy process if finding an...

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Dayton Bankruptcy Law: What To Bring To Your Appointment

The following items will help me get to know you so that I can analyze your bankruptcy case as quickly as possible, and leave more of your office conference available for me to give you specific information about your bankruptcy situation.  The items requested are not meant to overwhelm you and should not stop you from seeking legal advice.  If you have problems with any of the requested items, please discuss it with us. Client Intake Form.Click here for .doc format | Click here for .pdf format Completing this form before your client interview will give us a much better...

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Dayton Bankruptcy Attorney: Mortgage Loan Modifications

Mortgage Loan Modifications Under water! When your mortgage is more than the value of your home, you can feel like you are drowning.  Contact Bankruptcy Lawyer Zachary Bushatz about obtaining a mortgage loan modification.  Mortgage loan modifications allow you to stay in your property while reducing your monthly payments to a livable rate.  This fresh start can also help bring your mortgage up-to-date if you have missed some payments.  To be eligible, you must demonstrate that any outstanding balance owed is because you suffered a setback that has since been resolved and you are now able to make payments at a...

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Ohio Bankruptcy Filing Fees Set to Increase November 1st

At its September 2011 session, the Judicial Conference increased the “Title 11 Administrative Fee” from $39.00 to $46.00.  Because the Administrative Fee is a component of the total fee for filing a bankruptcy petition, the total petition filing fee will increase in each chapter by $7.00 beginning November 1, 2011.  Currently, the filing fee for a Chapter 7 bankruptcy is $299.  This will increase to $306 on November 1st.  Likewise, filing fees for a Chapter 13 bankruptcy will increase from $274 to $281 beginning November 1st.  These are not huge increases in fees, but it is a fee that continues...

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Dayton Bankruptcy Report: Banks Ramp Up Foreclosure Process in Third Quarter

After a drop in foreclosures the first part of this year, the number of U.S. homes that received a first-time default notice during the July to September quarter increased 14 percent compared to the second quarter of the year, according to RealtyTrac Inc.  This increase signals that banks are moving more aggressively against borrowers who have fallen behind on their mortgage payments since last fall when foreclosure processing problems emerged.  Foreclosure activity began to slow in the fall of 2010 after problems arose with the way many lenders were handling foreclosure paperwork.  Shoddy mortgage paperwork comprising shortcuts collectively known as...

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Dayton Bankruptcy: Health Care Costs Continue to Drive Bankruptcies

With many Americans out of work, and therefore without health insurance, medical care can put many families in a financial bind that is impossible to get out of.  A 2009 study by Harvard researchers found that 62% of all personal bankruptcy filed was because of financial hardship brought on by medical problems.  Unfortunately, even those with health insurance are not immune from facing crippling debt from health care costs.  The same study found that 78% of those filers citing medical bills as the reason for filing had medical insurance at the start of their illness, including 60.3% who had private...

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Bankruptcy Statistics from Dayton Bankruptcy Attorney Zach Bushatz

New Bankruptcy Statistics Released A new report by the Institute for Financial Literacy, finds that college graduates and people with advanced degrees are filing bankruptcy more often.  In fact, since the passage of the Bankruptcy Abuse Prevention and Protection Act, holders of higher education degrees have increased their bankruptcy filings by about 20 percent. Despite the rise in filers with advanced degrees, over 70% of debtors have not graduated from college.  Although the majority of bankruptcy filers earn less than $40,000 a year, filers earning incomes above $60,000 increased their rate of filing by over 66%. The recession of the last few years...

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Dayton Bankruptcy Law: Discharging Student Loans

Image via Wikipedia Discharging Student Loans Based On Undue Hardship Generally, student loans are not dischargeable in bankruptcy. They are one of the few debts that categorically remain with a debtor once they have completed their bankruptcy.   In the past, some privately funded student loans could be discharged under Chapter 7 bankruptcy.  However, with the change in the law with the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, any education loan that qualifies for a tax deduction is non-dischargebale. There are exceptions to this general rule of non-dischargeability.  Recently I was able to discharge student loans for a client that was...

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