Bankruptcy Lawyers

Ohio.

February 06, 2012

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Bankruptcy News

President Signs Bankruptcy Abuse Prevention, Consumer Protection Act

THE PRESIDENT: Thank you all. Please be seated. Welcome. Thank you very much for coming today. Today we take an important action to strengthen -- to continue strengthening our nation's economy. The bipartisan bill I'm about to sign makes common-sense reforms to our bankruptcy laws. By restoring integrity to the bankruptcy process, this law will make our financial system stronger and better. By making the system fairer for creditors and debtors, we will ensure that more Americans can get access to affordable credit.

I'm pleased to be joined today by the Attorney General Al Gonzales. I want to thank the bill sponsors in the House and the Senate -- Senator Chuck Grassley of the Senate -- I think you told me you'd been working on this bill for nine years. That's a long time. I appreciate Congressman Jim Sensenbrenner from the House for being the sponsor in the House. Thank you.

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Did You Know?

Many family finances include a credit card debt
The typical family filing for bankruptcy in 1997 owed more than one and a half times its annual income in short-term, high-interest debt. A family earning $24,000 had an average of $36,000 in credit card and similar debt.

	Newsroom
	News about Bankruptcy in Ohio and nationwide: Safeguards in Place on Tax and Personal Information Recent media coverage of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), roughly a year after the Act went into effec... Read more > Three Indicted For Bankruptcy Fraud, Impeding The Fdic's Operations FDIC Inspector General Gaston L. Gianni, Jr., announced today that Frank C. Romano, Jr., of Rowley, MA, the owner and operator of several Massachus... Read more > SEC Files Supplement to Proposed Worldcom Penalty Settlement; Proposal Subject to District and Bankruptcy Court Review and Approval The Securities and Exchange Commission today filed documents modifying the proposed settlement of its claim for a civil penal... Read more > More Bankruptcy News >

Bankruptcy Terms

Today's Terms

Set-off

Definition:
The ability to discharge or reduce a debt by applying a counter claim between the same parties.

Chapter Thirteen

Definition:
Bankruptcy proceedings for an individual with the intention of rescheduling the individual's debt (rather than liquidating the individual's assets and debt; an individual files under Chapter 7 to liquidate);

Secured creditors

Definition:
One of two general types of creditors of a company. Secured creditors have a lien on property of the company.

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Bankruptcy Resources

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Bankruptcy Hot Topics

Topics Related to Bankruptcy:

Chapter 7
Chapter 13
Chapter 11
Chapter 12
Chapter 9

Ohio Bankruptcy Attorney

If you live in the following cities and need a Bankruptcy attorney you should contact our Bankruptcy Attorney as soon as possible:

Alliance
Ashtabula
Barberton
Beachwood
Bowling Green
Brunswick
Canton
Chillicothe
Cincinnati
Cleveland
Columbus
Dayton
Delaware
Dublin
Eastlake
Elyria
Fairborn
Fairfield
Findlay
Grove City
Hamilton
Hilliard

Kent
Lakewood
Lancaster
Loveland
Marion
Mason
Massillon
Medina
Mentor
Middletown
Newark
Painesville
Reynoldsburg
Sandusky
Stow
Toledo
West Chester
Westerville
Wooster
Xenia
Youngstown
Zanesville

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