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Ohio Bankruptcy Records

For anyone who wishes to take a look at the Ohio Bankruptcy Records, going online is the best option. With every detail appearing online today, it is as simple as performing a search through a case files database to get the information that one needs. It goes without saying that such information can be very useful. The FBI Website officially lists Ohio as one of the top ten places where people are subject to mortgage fraud. Post the sub-prime home loan crisis, the mortgage frauds have resulted in a loss of about $1.4 billion for the financial institutions. As many as 67,713 Suspicious Activity Reports (SARs) have been filed in 2008 alone, reports that point towards fraud. Hence, when you look at a new contractor or a business partner you want to associate with, their financial background assumes a lot of importance. Consequently, a check through the bankruptcy records is a must.

Locate Ohio State Bankruptcy Records


Locating Ohio Bankruptcy Records is as easy as a few clicks. Once you are logged in to the right site, you can scan through their database to check any references that you may need. Additionally, you may find available the option of searching specific professions in order to narrow down your search from amongst the thousands of records that are present. Once you get the relevant case file, you can review it and use the information as per your needs.

As per legislation, every case of bankruptcy needs to be filed in a bankruptcy court. In Ohio, the Bankruptcy courts are divided into two categories based on the region of their presence. Bankruptcy courts may either fall under the Northern District or the Southern District of Ohio. For example, courts in Cleveland, Toledo, Akron and Canton fall under the Northern Circuit.

While most of the bankruptcy process follows federal laws, portions related to exemption policies can be governed by state laws. As with any other state, in Ohio, you can file bankruptcy under chapter 7 as a straight bankruptcy or liquidation, or under chapter 13 as a wage earners bankruptcy where a long term plan is set up to allow you to slowly pay off your debts.

In order to file for bankruptcy, you must have your family income less than the median state income. To get an idea of the range of income it covers, the median state income is $42,458 for a family with a single earning member from March 2009 onwards.
Once you have successfully filed for bankruptcy, there will be an "automatic stay" on your property, which prevents creditors from taking over your possessions for the time being. Within 20 to 40 days you will be called for a "341 meeting" which is a meeting of all your creditors. Here you will be asked questions about your financial status.

In case of exemption, Ohio laws allow you to keep your house and car if the equity in both are lesser than or equal to $5000 and $1000 respectively.

Irrespective of the type of bankruptcy, Ohio Federal Bankruptcy Records as well as any and every Ohio County Bankruptcy Record is well documented and stored. These records are now available to you online, through an expansive network of state and federal databases to enable you to get relevant information at the right time.