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Chapter 13 bankruptcy might help you keep your family home

Chapter 13 bankruptcy is an excellent way for Ohio residents to resolve their debt problems without losing a single piece of property. Indeed, one of the most important benefits of Chapter 13 bankruptcy is the fact that participants will not be in danger of losing ownership of their homes.

Many people opt for Chapter 13 proceedings as a way of protecting themselves from losing their home in foreclosure. Even individuals who have fallen behind on their mortgage payments -- and who have been subjected to foreclosure proceedings -- may be able to reverse foreclosure and get their home back by engaging in Chapter 13 proceedings. However, in such cases, the bankruptcy process needs to be initiated in a timely fashion.

In order to qualify for Chapter 13 bankruptcy, you need to have the right income-to-debt ratio. Basically, your income has to be high enough to meet the monthly payment obligations of a court-approved debt repayment plan. So long as Chapter 13 participants meet their monthly repayment obligations, which are spread out over a three- to five-year period, any remaining debts after that period will be forgiven and the former debtor will retain all of his or her property and assets -- including their family home.

At the Rose Law Office, we are particularly interested in helping families who were hit hard by the collapse of the real estate sector and subsequent economic downturn in recent years. Indeed, even though the economy has been recovering in many respects, there are still numerous families struggling to make ends meet. These families are facing unemployment and struggling to meet their debt obligations. If you have fallen behind on your debt payments, our law office might be able to help you get back on sound financial footing again.

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35 East 7th Street,
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Cincinnati, Ohio 45202

Phone: 513-621-7902
Fax: 513-621-6402
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The Rose Law Office
6020 Cheviot Road
Colerain, OH 45247

Phone: 513-621-7902
Fax: 513-621-6402
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