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Most people have experienced debt at some point in their life. And even if it’s “good” debt—such as a mortgage—owing a large sum of money to someone else can still be stressful. At the law office of Groth & Associates, we know that if you owe a lot of people a lot of money, you may be feeling overwhelmed and unsure of what to do. When you call our law office and speak to one of our Rossford bankruptcy lawyers, we can help you to understand your options for getting out of debt. Reach us today to get started.

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While the bankruptcy process varies depending on the type of bankruptcy for which a party is filing, bankruptcy can be described as the court-facilitated process of paying off creditors and discharging debts. Bankruptcy can provide someone with a clean financial slate and help them to move forward with their life financially. It’s important to remember, however, that filing for bankruptcy also has some consequences—these are discussed in more detail below.





There are multiple types of bankruptcy. The type of bankruptcy for which you file will depend on whether you are an individual or a business, the amount of debt you have, and your means. Common types of bankruptcy include:


  • Chapter 7 bankruptcy. A Chapter 7 bankruptcy, also called liquidation bankruptcy, is typically pursued by individuals who do not have the means to repay their debts or enter a repayment plan. In a Chapter 7 bankruptcy, non-exempt assets will be sold and liquidated to pay off creditors, and then remaining debts will be discharged. In order to file for a Chapter 7 bankruptcy, a debtor must pass the means test. This is a way of determining whether or not the debtor has enough income to pay back a portion of their debts; if they do not, they qualify for a Chapter 7. 
  • Chapter 11 bankruptcy. Chapter 11 bankruptcies are almost always filed by businesses struggling to pay down debts. Known as reorganization bankruptcy, this type of bankruptcy allows a business—working with its creditors and the court—to reorganize and create a plan for paying off creditors. While Chapter 11 can be a very effective way to get out of debt and has been used by various businesses large and small, one of the downsides of Chapter 11 is that this is the most complex bankruptcy type. 
  • Chapter 13 bankruptcy.A Chapter 13 bankruptcy is the other most common type of bankruptcy filed by individuals. Unlike a Chapter 7 bankruptcy, though, in Chapter 13, a debtor will enter into a repayment plan with creditors that lasts for between three and five years. At the end of the three-to-five-year period, any remaining debts will be discharged.


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Filing for bankruptcy isn’t for everyone, nor is it always the best option for someone who is struggling with debt. Filing for bankruptcy may be a wise idea when:

  • You have been drowning in debt for many months and aren’t sure where to turn;
  • The amount of debt that you have greatly exceeds the value of your income and assets;
  • You have had a lawsuit for collection filed against you;
  • You are being harassed or/and threatened by creditors and you want it to stop;
  • You have received a notice of foreclosure in the mail;
  • You have explored all other debt-relief options, including debt consolidation and mortgage modification; and
  • You have talked to an experienced Rossford bankruptcy attorney who has advised you to file for bankruptcy.

Words from our clients

Stevin is by far the best Lawyer that I have encountered. He is professional, knowledgeable, and very patient. I have lived out of the country for the past 5 years and anytime I needed legal assistance he has always been there for me as if I was next door. I would strongly recommend Stevin Groth no matter what the circumstances are. His dedication and attention to detail is what’s appreciated the most. Thanks for all that you have done and you will continue to do for me.


Stevin was very professional and got me the best possible outcome for my case. I would recommend him to anybody that is looking for a great quality lawyer.


I had the pleasure of working with Stevin Groth on a case. He went above and beyond what I expected. I expected the worst and he fought for me way better than anyone would have. Will use again if needed. Cannot express my gratitude enough. Thank you.



Filing for bankruptcy has many benefits. Most notably, filing for bankruptcy and going through the bankruptcy process can mean getting a clean financial slate. It could mean saving your home from foreclosure and improving your future financial opportunities. And, importantly, filing for bankruptcy automatically initiates the automatic stay, which is a freeze on creditors’ rights to collect on debts.

But filing for bankruptcy also has some major consequences, too. Perhaps the most notable of these is that when you file for bankruptcy, your credit score will take a big hit. This hit to your credit score can make it hard to take out a line of credit or get a loan. And because the bankruptcy filing will stay on your credit report for 7-10 years, it could even make it difficult to get a job in certain industries. 

It’s also important to remember that not all debts are dischargeable in a bankruptcy case. Alimony, child support debt, and student loans are usually not forgiven during bankruptcy. Talk to your attorney for information that’s specific to your case and the types of debts you carry. 

While there are some downsides to bankruptcy, if you are drowning in debt and don’t know where to turn, filing for bankruptcy may be your best option. It’s important to speak with an attorney to learn more.


Because bankruptcy is a court-facilitated process, there are often legal complexities associated with the filing. For example, you’ll need to provide evidence that proves that you meet the requirements to file for bankruptcy. You’ll also have to work with the bankruptcy trustee assigned to your case to enter a repayment plan, liquidate assets, and more. Before you can file, you’ll have to attend credit counseling courses. For the average person, the bankruptcy process can be confusing. When you work with an experienced attorney, you improve the chances of your case proceeding smoothly and you avoid the chances of making a costly error.


At the office of Groth & Associates, we understand that being unable to repay large amounts of debt can be embarrassing and frustrating, and leave you feeling hopeless about the future. When you work with our lawyers, you are entering a judgment-free zone where our top priority is ensuring that you get the legal services you deserve. To learn more about working with our Rossford bankruptcy lawyers and how we can help you when you need it most, please reach out to us by phone or online at your convenience to schedule your initial consultation.

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