Facts About Chapter 7 Bankruptcy in Hamilton OH...

Apr, 2014 by Alma Abell

In today’s uncertain economic climate, more people than ever are finding themselves in financial peril. Company downsizing, rising interest rates, and stagnant wages are just a few of the reasons why people end up owing more money than they have coming into their households. Being in debt can have serious repercussions in a person’s life such as divorce and repossessions. To keep this from happening, many people file for a legal status known as Chapter 7 Bankruptcy in Hamilton OH. Article I, Section 8, of the United States Constitution give Congress the power to pass bankruptcy laws that are fair and uniform in nature. Chapter 7 Bankruptcy is one of the sections of the Bankruptcy Code, which was codified in 1978. The goal of any chapter of bankruptcy is to give a debtor a...

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