You are not likely to lose any property when you file for bankruptcy. Ohio exemption laws allow you to keep a fair amount of “equity” in your home and other personal property. Equity is the value of property after you deduct financing liens. Ex. $80,000 house with $50,000 mortgage has $30,000 equity.
Common exemptions for married couples:
Residence: | $41,000 |
Vehicle: | $ 6,500 |
Household Goods: | $10,000 |
Retirement Plans: | Unlimited |
Whether you're declaring bankruptcy in Circleville Ohio or any other southeastern Ohio town, Michael Warren's free bankruptcy legal consultation will get you heading in the right direction and fast. Call us today for legal help with foreclosure, bankruptcy or even for Chillicothe wage garnishment.
Let Michael Warren and Warren Law Firm help you get back on track.
We'll answer your Questions, dispel the Myths and help you determine whether Bankruptcy is right for you.
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