Ohio Bankruptcy Laws

The various states in the United States have different bankruptcy laws and Ohio is not an exception. Ohio bankruptcy laws are different from the bankruptcy laws in other states in several senses. If you are living in Ohio and are planning to file court petition for bankruptcy, it is very important for you to make sure that the bankruptcy lawyer you have hired to handle your specific bankruptcy case is very well aware of the Ohio bankruptcy laws.

Things You Need To Know

Following are some of the important things that you must know regarding the Ohio bankruptcy laws.

•It is also important for you to understand that unlike other states in America, the bankruptcy cases in Ohio do not follow federal bankruptcy laws. Instead, they follow the specific Ohio bankruptcy laws.
•The bankruptcy laws in Ohio deal mainly in the federal statutory law as described in the in Title 11 of the United States bankruptcy Code.
•There are two courts in Ohio that handle all the bankruptcy cases of the state – Ohio Northern Bankruptcy Court and Ohio Southern Bankruptcy Court. Both these courts are federal bankruptcy courts.
•You can also download the all types of Ohio bankruptcy forms from a form provider’s website on Internet. There are separate bankruptcy forms for different types of bankruptcy cases. For example, if you want to file chapter 7 bankruptcy, you will have to fill chapter 7 bankruptcy forms.
•Following are some of the properties that are exempted under Ohio bankruptcy laws.
◦Residential property – $5000 or less
◦One car or other vehicle – $1000 or less
◦Cash – $400 or less
◦Home appliances, like refrigerator – $5000 or less
◦Jewelry – $3500 or less
◦Furniture or other household commodities – $1500 or less
◦Other personal properties, things that you can live without – $400 or less
◦Trade equipments – $750 or less