Legal Question in Bankruptcy in Ohio
What determines which chapter to file under
I currently have 30k in credit card debt annual income of 30k. Including my house and car payment my monthly minimum payments leave me less than $100 for utilities and food. I lost child support payments in Jan. of 97 and took a demotion in July of 96 both of which have contributed to my financial troubles. I am at a point where I will be making late payments on just about all I owe. If I were to file for bankruptcy what determines if I file under Chapter 7 or Chapter 13. I know both are disasterous to my credit rating, but would a Chapter 13 appear any better to a potential creditor than a Chapter 7?
1 Answer from Attorneys
Alternatives to Bankruptcy - Ohio
In Ohio, you have alternatives to bankruptcywhich offer you almost as much protection asbankruptcy and are much less offensive to yourcreditors.
One is Consumer Credit Counseling Service, a non-profit organization which intercedes towork out a repayment plan you and your creditors can handle.
The other is Trusteeship in your local municipal or county court. See the Clerk of your courtand ask about Trusteeship before filing anybankruptcy.
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