Practice Areas and Legal Definitions

Every year, more than 1,000,000 Americans file for protection under Federal bankruptcy laws. Although some bankruptcy claimants are deemed as credit abusers and/or considered financially irresponsible, many hardworking individuals and businesses can succumb to financial difficulty, and face irreparable economic crisis. Bankruptcy is designed as a legal option to help resolve such a crisis, and act as a financial life preserver for those drowning in debt. To discuss your bankruptcy options, or other areas of recourse that might be available to you, contact a qualified bankruptcy attorney who can advise you of your legal rights as stated under Bankruptcy Law and federal Bankruptcy courts.

Bankruptcy Laws:
Bankruptcy is a federal court process designed to help individuals and businesses eliminate their debts or repay them under the protection of the bankruptcy court. Bankruptcies can generally be described as liquidation or reorganization. Under a liquidation bankruptcy (Chapter 7), a debtor files to eliminate debt through the bankruptcy court. Under a reorganization bankruptcy (Chapter 13), a debtor files a plan with the bankruptcy court proposing how to repay creditors.

In 2005, the requirements under which a debtor could file Chapter 7 bankruptcy changed with the passage of the Bankruptcy Abuse Prevention and Consumer Protection Act.  Debtors are now required to seek budget and credit counseling within six months of filing, financial “testing” is required to determine the debtor’s capacity for debt repayment, Chapter 7 cannot be filed if the household income is greater than the median household income as deemed by the state, and state exemptions cannot be applied unless the debtor has resided at current residence for over two years.

Due to the imposed requirements for Chapter 7 bankruptcy as set forth by the new laws, debtors who were eligible to file under Chapter 7 may now have to file under Chapter 13 bankruptcy instead, in which individuals and creditors agree to a court-imposed plan that requires some or all debts be repaid over five years, with an appointed trustee assigned to monitor the repayment process. Bankruptcy filings will continue to be recorded on an individual’s credit report for seven years in the case of Chapter 13, and up to ten years for Chapter 7.

Chapter 7:
Chapter 7 cases are commonly referred to as straight bankruptcy or liquidation cases, and may be filed by an individual, corporation, or a partnership. A Chapter 7 bankruptcy case does not involve the filing of a plan of repayment as in Chapter 13. Instead, the bankruptcy trustee gathers and sells the debtor's nonexempt assets and uses the proceeds of such assets to pay holders of claims (creditors) in accordance with the provisions of the Bankruptcy Code. Part of the debtor's property may be subject to liens and mortgages that pledge the property to other creditors. In addition, the Bankruptcy Code will allow the debtor to keep certain "exempt" property; but a trustee will liquidate the debtor's remaining assets. Accordingly, potential debtors should realize that the filing of a petition under Chapter 7 may result in the loss of property.

Chapter 13:
A Chapter 13 bankruptcy is also called a wage earner's plan. It enables individuals with regular income to develop a plan to repay all or part of their debts. Under this chapter, debtors propose a repayment plan to make installments to creditors over three to five years. Chapter 13 permits individuals to keep their property by repaying creditors out of their future income.  It is not available to corporations or partnerships. After completion of payments under the plan, Chapter 13 debtors receive a discharge of most debts.

Foreclosure:
Foreclosure is the legal proceeding in which a bank or other secured creditor sells or repossesses a parcel of real property (immovable property) due to the owner's failure to comply with an agreement between the lender and borrower called a "mortgage" or "deed of trust". Commonly, the violation of the mortgage is a default in payment of a promissory note, secured by a lien on the property. When the process is complete, it is typically said that "the lender has foreclosed its mortgage or lien".

A Foreclosure by Sale ends in the posting of a sign advertising the auction of your home on the sale date. The only ways to stop a foreclosure are full payment of the arrearage, or the filing of a Chapter 13 bankruptcy. Full Payment: If you are able to obtain and tender the full amount of your arrearage, including fees and costs, you can stop the foreclosure of a standard residential mortgage. Most people lack the money to make full payment. This process stops the foreclosure and allows you to repay your arrearage over a three-to-five year period. The arrearage is paid through a court-appointed official, while you resume your regular monthly payments to the bank in order to keep your home. A Chapter 13 can be filed at any time prior to the law day or sale date, and it is often the only avenue to save your home.

Debt Consolidation:
Contrary to popular belief, debt consolidation is not a loan. Debt consolidation is a process in which debt is restructured into one low monthly payment. It further enables a consumer to reduce the amount owed and thereby eliminate interest. Very often a consumer can detect warning signs of being in too much debt long before any collection notices are received. If more than two of the following signs apply to you, you are probably in too much debt:

• You have begun charging to your credit card essential expenses like food and daily expenditures
• You are making only the minimum payments on your credit cards each month
• You are near the limit of your credit cards
• You have too many credit cards
• You are unsure how much money you owe creditors

If you or someone you know needs the assistance of an experienced Worthington Ohio Bankruptcy lawyer, call Ralph A. Kerns & Associates today at 866-321-5311, or complete the contact form provided on this site to arrange for a free consultation.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

If you or someone you know needs the assistance of an experienced Worthington Ohio Bankruptcy lawyer, call Ralph A. Kerns & Associates today at 866-321-5311, or complete the contact form provided on this site to arrange for a free consultation.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

ADDRESS OF THE FIRM:
Ralph A. Kerns & Associates
6797 N High St., Suite 325
Worthington, OH 43085-2596
Phone: 866-321-5311
Hours: M-F, 8:00AM-5:00PM

MEMBERS OF THE FIRM:

• Attorney Ralph A. Kerns

Ralph A. Kerns has practiced law in Franklin County and throughout the State of Ohio for over 28 years. His practice is devoted to helping individuals and families who are in transition.

Mr. Kerns understands that financial and domestic challenges can leave one feeling overwhelmed, confused and unsure about the future. He enjoys working with people and families to remove the stress and worries associated with these problems and to find a resolution which helps them to get back on their feet and move forward with their lives.

Mr. Kerns serves those who are in financial distress. These problems often arise out of foreclosure, credit card debt, overwhelming medical bills, loss of a job (lay-off), a reduction in pay, death of a spouse, garnishment or other unexpected events. There are always options. Mr. Kerns will review your specific circumstances and will help determine the best possible solution. This can include filing bankruptcy, such as Chapter 7 (liquidation) or Chapter 13 (repayment plan). It is possible to keep most of your personal possessions and even some assets such as your car or home.

Mr. Kerns has provided legal services to thousands of clients and comes with the highest rating (AV) from Martindale Hubble. He often receives referrals from other attorneys when they do not posses the knowledge and or experience to handle the more complicated legal matters.

Mr. Kerns has completed hundreds of hours of continuing education classes over the years including those not only related to Family Law and Bankruptcy but also the interplay of criminal and business involvement in each of these areas.

Mr. Kerns has also completed over 40 hours of training in mediation and 20 hours of collaborative law training so that he is not only trained but experienced in the best methods to handle your case either through litigation or negotiation. When he is not practicing law, you will find him enjoying time with his wife and children attending their piano recitals and sporting events. You might see him playing trumpet in the New Albany Community Band or working in Worthington area service projects. 

• Attorney Eden Renee Sarver

Areas of Practice:

Bankruptcy 7 / 13 Consumer

Bar Admissions:

Ohio, 2002
U.S. District Court Southern District of Ohio, 2002

Education:

Capital University Law School, Columbus, Ohio, 2001, J.D.

Franklin University, Columbus, Ohio, USA, 1997, B.S.
Honors: Dean's List 1996 - 1997
Major:  Business & Human Resource Management

Columbus State Community College, Columbus, Ohio, USA
Honors: Dean's List 1991 - 1994
Major:  Business Management

Professional Associations and Memberships:

Columbus Bar Association
Member

Credit Education Coalition, 2006 - Present
Board Member