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Various Blogs regarding Cincinnati Family Law, Estate Planning And Bankruptcy.

At Bailey & Gunderson, our attorneys help people going through some of life's most difficult challenges. We bring our experience, skill and creativity to every case, taking on all types of Family Law including Divorce, Bankruptcy, Probate and Estate Planning issues.  Learning that most people ask the same questions - this blog is our way of providing some general legal information.  Feel free to contact our Cincinnati Law Offices to discuss your specific situation. 

REDEMPTION IN A CHAPTER 7 BANKRUPTCY

LEGAL NEWS YOU CAN USE FROM THE DESK OF MICHAEL S. BAILEY, ATTORNEY-AT-LAW.  If you have questions, call me at (513) 631-0022.

A “redemption” allows a debtor in a Chapter 7 bankruptcy to retain personal property (autos, household goods, jewelry, etc.) that is collateral for a secured debt. It’s possible for a debtor in a “redemption” to pay a secured creditor significantly less than the amount of the debt owed the secured creditor. However, the debtor must pay the fair market value of the collateral to the secured creditor.

By way of an example, if a debtor owes a secured creditor $10,000 for an auto and the fair market value of the auto is $4,000, the bankruptcy code permits the debtor in a “redemption” to pay the secured creditor $4,000 while eliminating the remaining balance of $6,000 owed for the secured debt ($10,000 - $4,000). Note that the amount due the secured creditor in a “redemption” must be paid in a lump sum. There are lenders who specifically make loans to debtors to “redeem” an auto or other personal property for a “redemption”.

A “redemption” can realize significant savings for the debtor and allows the debtor to retain the secured collateral while eliminating some debt. Want to know more? Give me a call.

This insight into the law is provided by Michael S. Bailey, Esq. of the law firm of Bailey & Gunderson Co., L.P.A., with offices in Norwood and Western Hills. Phone: (513) 631-0022.

Bankruptcy C

Are you a parent or a grandparent having custody issues with the other concerning your children or grandchildren? The attached article provided by the Ohio Bar Association provides some insight and answers some questions regarding issues that may arise with this difficult situation.

We are here to help is you find yourself in this situation and need some legal advice.

This insight into the law is provided by Michael S. Bailey, Esq. of the law firm of Bailey & Gunderson Co., L.P.A., with offices in Norwood, Western Hills and Anderson Township. Phone: (513) 631-0022.

Link to Parent vs. Grandparent Custody Issues.

Grandparent Custody

Are you having debt and financial trouble? We can help.

A Chapter 7 or Chapter 13 Bankruptcy may be the solution for your debt and financial problems. Please contact us for your free initial consultation with our bankruptcy attorneys.

Bailey & Gunderson Co., L.P.A., with offices in Norwood, Western Hills and Anderson Township. Phone: (513) 631-0022.

 

financial problems

Attorneys Michael S. Bailey and Eric J. Gunderson of the Bailey & Gunderson law firm attended a bankruptcy seminar at the Cincinnati Bar Association yesterday.

Topics included:

a) Current issues with Chapter 7 and Chapter 13 bankruptcy
b) Income tax issues in Chapter 13 bankruptcy
c) Legal issues concerning violations of the law by mortgage lenders and servicers
d) Practice pointers from the Cincinnati bankruptcy judges
e) Case law update

Are you interested in learning more about Chapter 7 or Chapter 13 bankruptcy? Please give our office a call at 631-002 and schedule an appointment to meet with us. The initial consultation is free!

Provided by Michael S. Bailey, Esq. of the law firm of Bailey & Gunderson Co., L.P.A., with offices in Norwood, Western Hills and Anderson Township. Phone: (513) 631-0022.

 

Chapter 7 vs chapter 13 bankruptcy

Starting next month (January, 2019), parents subject to supervised parenting time have a new option to exercise parenting time with their children.

The Hamilton County Domestic Relations Court and the Children’s Home have created a new program called the Family Visitation Center that shall provide a location and supervision to allow parents to continue contact with their children. Contact the Hamilton County Domestic Relations Court for more information.

Provided by Michael S. Bailey, Esq. of the law firm of Bailey & Gunderson Co., L.P.A., with offices in Norwood, Western Hills and Anderson Township. Phone: (513) 631-0022.

 

dad daughter tea party

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