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May 2011 Archives

Growing number of baby boomers face bankruptcy as retirement approaches

Ever since the housing crisis erupted, a large amount of ink has been used on the housing market and foreclosures. Cincinnati bankruptcy attorneys are aware that the market forces have affected much more than housing. Many baby boomers are experiencing trepidation over whether their retirement savings will be sufficient to cover their golden years.

Study: Growing number paying credit cards before mortgage

Throughout the recent economic crisis many Ohioans have faced the daunting task of deciding which bills to pay each month. Historically, Americans have chosen to pay the mortgage before other debts, such as unsecured credit. A Cincinnati bankruptcy attorney can tell you that unsecured credit includes credit cards.

Debt consolidation companies sometimes make matters worse

Despite consumer protection laws, companies continue to make lofty promises to people straddled with high debt balances. A growing number of firms tantalize people suffering under heavy debt with offers to reduce debts by as much as 70 to 80 percent. Cincinnati bankruptcy attorneys are aware that in some cases trying to work with unscrupulous credit consolidation firms can leave an individual in worse shape.

Myths regarding bankruptcy continue to abound

This blog has carried several stories on the number of people in Ohio, and across the country, who have chosen to file for personal bankruptcy in recent years. The numbers continue to rise to near the levels experienced before the law was changed in 2005. The basic types of bankruptcy were not changed, the differences mainly are found in what options people have available based upon their asset structure and income.

Cable TV star files for chapter 7 bankruptcy

A cable television star chef has seen a huge rise in success. The chef is seen on four Food Network programs; he has operated a number of high-profile restaurants and is expanding the number of restaurants that he operates into more states. Unfortunately, he is facing a lawsuit regarding a business partnership that he is longer associated with.

Underwater mortgages affect 28 percent of American homes

During the first quarter of this year, the housing market continued to struggle across the country. Market values of homes fell more during the first three months of the year than in any other quarter in 2008. Home prices fell 3 percent in the first quarter 2011. Zillow Inc. says more than 28 percent of American homeowners are now underwater on their mortgage.

Is a purchased credit score similar to what lenders see?

Ohio consumers remain concerned about their credit score. Owning a home, buying a car and getting a good rate on a credit card can be affected by what the credit reporting companies tell lenders about an individual's credit history. Many companies offer credit monitoring services and even sell credit scores to consumers. Credit report and credit monitoring services, offered for a fee are not about restoring credit, but more about providing a snapshot of what a credit score may look like at a given point in time.

16-acre estate set for auction in bankruptcy case

A former NBA ball player who earned roughly $62 million during his 18 year career suffered financial troubles after retiring in 2007. In 2009, the former all star was the victim of a string of burglaries. He had made a number of real estate investments and personally guaranteed the loans. The man filed for personal bankruptcy to relieve his large debt load.

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Phone: 513-729-7196
Fax: 513-621-6402
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Colerain, OH 45247

Phone: 513-729-7196
Fax: 513-621-6402
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