Chapter 7 Bankruptcy Questions | Bankruptcy Attorneys at Thompson and DeVeny, Co., LPA in Dayton

Can I keep my house if I file a Chapter 7?
Will they take all of my stuff if I file a Chapter 7?
Will filing bankruptcy damage my credit?

Q: Can I keep my house if I file a Chapter 7?

As long as your mortgage payment is current and the amount of equity is low you will be able to keep your house. You will still be required to make your current monthly mortgage payments during and after your bankruptcy case.

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Q: Will they take all of my stuff if I file a Chapter 7?

When you file a Chapter 7 you are entitled to keep all of your exempt property. In Ohio your exempt property is determined by both federal and state law. Ohio recently increased the amount of property you are allowed to keep. Lester Thompson wrote an article for the Dayton Bar Association magazine explaining the new exemption laws. See his article in the Articles section of our website. In the vast majority of cases the Chapter 7 trustee will not take any of your property; however, exemption planning can be complicated and tedious. Contact our office for a free consultation with an experienced Dayton bankruptcy attorney to determine if you have non-exempt assets.

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Q: Will filing bankruptcy damage my credit?

Yes. A bankruptcy filing is reflected as a public record on your credit report. Pursuant to the Fair Credit Reporting Act, a public record can remain on your credit report for ten years.

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Thompson & Deveny Co., LPA, assists clients with Divorce, Estate Planning, Family Law, Personal Bankruptcy, Probate & Estate Administration, The New Bankruptcy Law, Predatory Lending and Consumer Law matters in the State of Ohio, including the counties of: Champaign, Clinton, Clark , Darke, Greene, Miami, Montgomery, Preble, Shelby and Warren; and the cities of: Urbana, Mechanicsburg, St. Paris, Wilmington, Sabina, Springfield, New Carlisle, Enon, South Charleston, South Vienna, Greeneville, Versailles, Bradford, Arcanum, New Madison, Beavercreek, Fairborn, Wright Patterson Air Force Base, Bellbrook, Xenia, Jamestown, Cedarville, Bowersville, Troy, Piqua, Covington, Dayton, Vandalia, Centerville, Riverside, Kettering, Miamisburg, West Carrollton, New Lebanon, Huber Heights, Oakwood, Englewood, Trotwood, Clayton, Germantown, Brookville, Eaton, Eldorado, West Manchester, Camden, Somerville, New Paris, Sidney, Russia, Houston, Botkins, West Chester, Lebanon, Springboro, Franklin, Carlisle and Waynesville.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.