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Sheppard Law Offices

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Ohio Debt Relief FAQ



Have Questions About Debt Relief Options in Ohio?


  • What are my debt relief options?

    The primary debt relief options are debt settlement, consolidation loans, loan modification, and filing for consumer bankruptcy.

  • Will I have to pay income taxes on a 1099 sent from a creditor in a debt settlement?

    Just because you receive a Form 1099 for cancellation of debt, it is not automatic that you must include that amount in your taxable income. Tax Attorney Ken Sheppard can help you determine whether that cancellation of debt by the creditor must be included in your taxable income for the tax year the debt was canceled.

  • How does loan consolidation work?

     A consolidation loan takes your high interest credit cards as other debts, and consolidates them into one monthly payment. Some benefits may include: Quicker payoff of the debts, reduced monthly payment amount, turns multiple payments into a single payment.

  • Will I qualify & do I need collateral for a consolidation loan?

    Whether collateral is required or not for a consolidation loan will depend on the lending requirements of the consolidation loan creditor and will typically take into consideration your current debts, credit history, ability to pay, and available collateral.

  • How does a loan or mortgage modification work?

    A loan modification is where the lender and borrower agree to change the terms of a loan to help the debtor get back on track. Some of the benefits may include a reduced payment, lower interest rate, removal of late fees or penalties, forbearance period, or other benefits to help keep your home, vehicle, or other property, and bring the loan back to or keep it in good standing.

  • Can I get a mortgage or loan modification even if I am behind on my payments?

    Yes, lenders will approve mortgage or other loan modifications as a means to get the loan back on track as a performing loan. Of course, in considering a modification they will review the ability to keep up payments on the revised loan by the borrower, the value of the property, and the value of the loan.

  • Are there options other than bankruptcy to save my house from foreclosure?

    There are numerous defenses against home foreclosure ranging from improper paperwork being filed to fraud on the part of the lender. A foreclosure defense attorney should review your situation and loan documentation in order to determine the best defense.

    Read more on Ohio Foreclosure Defense >>

  • Can Sheppard Law Offices help me even if I don't want to file bankruptcy?

    Yes, Sheppard Law Offices is a debt relief agency. In addition to helping our clients to file bankruptcy, we can help our clients with other debt relief options. We always seek to determine the most viable and best debt relief option to meet the individual needs of each of our clients. Our goal is to educate you of the pros and cons of each debt relief option and help you to choose the one that works best for you.

  • Where are Sheppard Law Offices Located?

    Click Here to visit the map and directions page to our Columbus, Ohio Filing Bankruptcy Office.

    In order to better serve our clients, we also have offices where you can file for bankruptcy in Newark, Mount Vernon, and Canton, Ohio

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Click Here to Call the Columbus Ohio Bankruptcy Lawyers, we help those facing debt problems to file chapter 7 or chapter 13 bankruptcy FREE15 Minute Phone Bankruptcy Consultation with attorney (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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We are a debt relief agency. We help people file for protection under the U.S. Bankruptcy Code.