Bankruptcy is dependent on a federal law that enables individuals to be discharged from their debts and obligations. The goal of bankruptcy law is to allow the debtors to start again in their financial situation. A bankruptcy means that the debtor will no longer be harassed by creditors to pay the debts that have been forgiven. That said, bankruptcy laws in Ohio are very similar to those of the other states although there may be minor variations. It would be best to consult an attorney who is authorized to practice law in Ohio and who specializes in bankruptcy law.

In general, one spouse can file for bankruptcy for either Chapter 7 or Chapter 13. However, he or she will have to also provide the information regarding the expenses and income of the non-filing spouse. This will allow the trustee, creditors, and the court to assess the financial situation of the household. Some of the information that may be required includes a list of all of the creditors, the nature of the claims, and the amounts. Data should also be provided regarding the frequency of the income of husband and wife, the source, and the amount. A list of all the properties of both filing spouse and non-filing spouse may also be required. Lastly, the filing spouse may need to supply information on their monthly expenses, such as food, shelter, clothing, taxes, utilities, medicine, transportation, and others.

The filing spouse may also have to provide schedules of assets and liabilities, a schedule of unexpired leases and executory contracts, a schedule of income and expenditures, and a statement of financial affairs. Information for the whole household will be needed. The debtor must also present a certification that he or she has undergone credit counseling. In the case of a Chapter 13 bankruptcy, the debtor must also submit a copy of the repayment plan that he or she has worked out during the credit counseling. The debtor must also submit proof of payments from employers that were received within 60 days before the filing, any expected increase in expenses and income, and a statement of net income. The debtor will also have to provide a record of any interest that he or she has in state or federal qualified tuition or education accounts.

Moe Bedard
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