Foreclosure cases continue to be filed.
Despite the temporary suspension of sheriff sales in Montgomery county, creditors continue to file foreclosure cases. And, some foreclosure sales are done online, bypassing the sheriff sale suspension.
Coronavirus Relief Chapter 13 Law Changes
As part of the Cares Act, there have been changes to help those in Chapter 13. We currently have over 1,000 active chapter 13 cases, and many of our clients are experiencing financial distress as a result of the virus. The CARES act, which provides financial relief for many, and the recent changes in Ohio unemployment law, providing for increased eligibility and benefits, will help, but only go so far. Not enough, for many, to keep up with their plan payments.
The CARES act provides that we can extend chapter 13 plans for an additional year, if needed. This may allow us to lower the monthly plan payment, and keep the case from being dismissed. Also, the CARES act provides that we do NOT have to include any monetary assistance received as a result of the virus in the calculation of the plan payment. This may further permit plans to be modified to ensure that they can successfully complete.
CAVEAT - Since this legislation has just been enacted, we do not know how our local trustees and Judges will interpret the law changes. My expectation is that the new provisions will be interpreted liberally in favor of our clients.
These new provisions apply to all cases, not just cases filed after the law went into effect.
We remain open and fully functioning during the "stay at home" order. The bankruptcy court and our office remain open - we are deemed essential services by Governor DeWine. To protect the safety of our clients and staff, we use video chat and telephone consultations. If you need advice during this critical time, call for your free telephone or video appointment. No in person appointments are required for your health and safety. Documents may be dropped off at our offices. Our HelpDesk remains open and all of our staff members are on duty. During this time of crisis, nobody needs to suffer from debt problems on top of all our other worries. We are here to help. I've been helping families get through tough times for over 30 years, and I'm here for your family, and mine, as work together to overcome this virus crisis.
No news here, not to me, anyway, but Household debt is near $14 trillion, $1 trillion more than it was during the peak of 2008’s Great Recession, and bankruptcies are on the rise. Yet, sadly, I see too many families suffering needlessly, because they fear that bankruptcy will ruin their credit, and they will lose their home, or car, or other property. Happily, I have a program that helps to rapidly recover credit after getting rid of your debt. It's extremely effective, average score one year after discharge? - 650 to 700.
Richard West Law Office updated their info in the about section.
Heads Up! You may be contacted by debt collectors on social media! This has not always been the case, but the Consumer Financial Protection Bureau (CFPB) has changed its rules to allow debt collectors to contact people through their social media accounts.
In 2020, more people trusted Richard West Law office than any other to help get them through. There were 11, 712 cases filed in Southern Ohio, and 2,785 of these were filed in Dayton. In 2021, the REAL stimulus working families need could come from filing bankruptcy.
Richard West Law Office
Student Loans were left out of the new stimulus package. No relief for student loan borrowers in the form of paused payments, no interest accrual, no student loan debt collection or any student loan forgiveness.😞
We're thrilled when we get actual letters from clients. And we're grateful to be a part of the financial solution for so many.
