Debt Relief and Ohio Bankruptcy Alternatives



There Are Several Alternatives To Get Out Of Debt


Debt Settlement

Debt settlement involves working with one creditor individually to establish a settlement or payment plan with that creditor, which will reduce the overall amount owed to that creditor and the creditor in return agrees not to pursue the remaining outstanding debt. An unsecured creditor may be willing to enter into a debt settlement if the debtor can pay a lump sum amount (typically 40% to 60% of the total debt) within a short time period.

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Loan Consolidation

By taking a Debt Consolidation Loan you can combine multiple debts into one loan. By moving higher interest rate accounts to the consolidation loan you can often reduce the monthly payments, while setting a schedule to pay the debts in full over a set period. This can be very beneficial to get rid of outrageous default credit card interest rates, as well as other debts you may be only making minimum payments on or paying higher interest rates or as a means to simply reduce the amount of creditors that you are required to make payment to each month. Consolidation loans may be taken as unsecured or secured utilizing a fully owned property such as a vehicle, or added as an additional mortgage against a home.


Loan Modification

The modification of a loan is an agreement between the lender and borrower to change the terms of a loan. This agreement usually provides a benefit to both parties. The debtor may receive a reduced payment, lower interest rate, removal of late fees or penalties, forbearance period, or other benefits to help them to keep their home, vehicle, or other property, and bring the loan back to or keep it in good standing. The benefit to the creditor is that a performing loan is more valuable to them than revenue from the sale of the property.


Foreclosure Defense

Ohio is a Judicial Foreclosure State, therefore the home foreclosure process is handled through the courts. There are several procedural and substantive foreclosure defenses that may be argued in order to save your home from being foreclosed upon by the lender. If you have received notification of foreclosure, it is imperative that you contact a Columbus, Ohio foreclosure defense attorney as soon as possible as failure to respond to the foreclosure complaint in time will result in the lender asking for a default judgment, which means that your case will be lost.

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Consumer Bankruptcy

Filing for a chapter 7 or chapter 13 bankruptcy in Ohio gives you immediate relief from creditor harassment, and provides financial relief so that you can build a successful future, free of debt, for you and your family. Upon the filing of bankruptcy, the Automatic Stay provision of a bankruptcy filing prohibits creditors by law from pursuing any collection activities.

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Chapter 7 Bankruptcy

Filing for chapter 7 bankruptcy in Ohio provides for a "fresh start" through the liquidation of most all unsecured debts to creditors such as Hospitals, Credit Card Companies, Judgment Holders from Lawsuits and more.


Chapter 13 Bankruptcy

Filing for chapter 13 bankruptcy in Ohio reorganizes debt through an affordable repayment plan that lasts between 36-60 months, at the end of which most all remaining unsecured debt is discharged.



The Columbus, Ohio Bankruptcy, Debt, and Tax Relief law firm of Sheppard Law Offices offers a free initial consultation with an attorney. Sheppard Law helps individuals, families, and small business owners who are seeking a debt or tax settlement, looking to consolidate or modify a loan or mortgage, or want to file for chapter 7 or chapter 13 consumer bankruptcy, or are trying to determine what the best form of debt settlement for their specific situation. Get the financial help you need today by calling (614) 523-3106.


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Sheppard Law Offices - Columbus

Sheppard Law Offices

The Columbus, Ohio bankruptcy debt relief and taxation law office of Sheppard Law Offices, LPA is conveniently located just inside I-270 off of Cleveland Ave. Our offices provide a short drive from throughout Central Ohio including counties of Franklin, Delaware, Knox, Marion, Licking, & Fairfield. We regularly serve  Debt  & Tax needs of clients from  Columbus, Westerville, Bexley, Dublin, Sunbury, Delaware, Fredericktown, Johnstown, Centerberg, New Albany, Gahanna, Pickerington, Grandview, Upper Arlington, Clintonville, Groveport, Pickerington, Pataskala, Reynoldsburg, Groveport, Lewis Center, Worthington, Granville, the Short North, Hilliard, Plain City, Grove City, Newark, Mt. Vernon, Canal Winchester, and Lancaster.

Columbus Ohio Office

2600 Tiller Lane, Suite A

Columbus, Ohio 43231

Telephone: (614) 523-3106

Newark, Ohio Office

843 N. 21st Street, Suite 108

Newark, Ohio 43055

Telephone: (740) 345-7138

Akron-Canton Office

Belden Village Tower, 200

Canton, Ohio 44718

Telephone: (330) 409-2876

Mt. Vernon, Ohio Office

11 West Gambier Street

Mt. Vernon, Ohio 43050

Telephone: (740) 392-0404

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