Dayton Bankruptcy Filing
When you decide that a bankruptcy filing is in your best interests, it helps to have a checklist of what to do. If you choose to file bankruptcy in Dayton, here are the basic steps to take:
- Gather paperwork. This includes documents that detail your income, credit card charges, rent or mortgage charges, auto payments and other expenses. Cover at least the six preceding months.
- List creditors. Include how much is owed to each of them when filing bankruptcy. In Dayton as well as the rest of the country, the statute of limitations on debt is complicated. Working with an attorney can help you sort out these obligations.
- List your assets. Whatever you own that is partially or fully paid for, including autos, furniture, your home and anything else of value. As is usual in any Dayton bankruptcy filing, there is a limited category of exemptions determined by state statutes, assets that are beyond the reach of creditors in a bankruptcy (e.g., $20,200 of value in your home, if it is to be sold, is exempt).
- Get a current credit report. This details all your debt collectors and creditors who will be named in the bankruptcy filings.
You need skilled bankruptcy guidance
A lawyer can help you determine if a Chapter 7, Chapter 11 or Chapter 13 bankruptcy will work best in your circumstances. Expect the process of filing and completing a Chapter 7 bankruptcy to take between four and six months. This is the time required by the courts to assess how much is available to pay to creditors, and who those creditors are. In cases of bankruptcy litigation in Dayton where debts are larger than assets, those creditors may cause the process to last a bit longer if they attempt to get a larger share of those assets. (The goal, of course, is to avoid Dayton bankruptcy litigation.)
Work with a lawyer in whom you can place your trust
The bankruptcy process can be difficult and emotionally draining, so it is essential to work with an experienced bankruptcy law firm in Dayton.
The lawyers at Thompson and DeVeny Co., L.P.A. provide practical, cost-effective legal representation. To set up an appointment with any of our attorneys you can call us at 937-684-9347. For more detailed information about our attorneys, visit the Our Attorneys page, or contact us online. We have over 100 years combined experience in the legal profession.