November 19, 2019

Creditor Bankruptcy in Ohio

When a debtor in Ohio is unable to pay his or her creditors the money he or she owes to them, the debtor may be eligible to file for bankruptcy relief. In a Chapter 7 bankruptcy, certain assets of the debtor are liquidated and distributed by the court to the creditors of the debtor. In a Chapter 13 bankruptcy, the debtor proposes a plan to pay back his or her creditors through the bankruptcy trustee over a period of time.