Attorneys at Fesenmyer Cousino Weinzimmer said that expensive legal fees shouldn’t be an obstacle for someone struggling with overwhelming debt.
CINCINNATI, OH, February 23, 2018 /24-7PressRelease/ — Last June, the U.S. announced that the number of annual bankruptcy filings fell to 796,037. Ohio bankruptcy firm Fesenmyer Cousino Weinzimmer said that while the statistics suggest fewer people need bankruptcy to get out of debt, people who do need to file still face many challenges, including finding affordable legal help.
“It’s a great irony of the bankruptcy filing process in the United States that when someone is overcome with debt and chooses bankruptcy to get out of it, they have to worry about how much their legal fees will cost,” said Courtney A. Cousino. “This is why we make sure that our services are both comprehensive and affordable.”
Too many people already feel overwhelmed by the prospect of filing for bankruptcy, the firm said, adding that legal representation shouldn’t be a significant factor when someone makes the decision to file.
“Having an experienced firm handle your case is a key part of getting what you need out of bankruptcy,” said Thomas M. Fesenmyer. “The cost of hiring that firm shouldn’t be a barrier to achieving financial stability.”
Of the 796,037 bankruptcies filed from June 2016 to June 2017, the large majority were non-business bankruptcies (772,594), compared to business bankruptcies (23,443). Well over half of all bankruptcies were Chapter 7, where the bankruptcy trustee sells a debtor’s nonexempt assets and uses the proceeds to pay creditors, in keeping with Bankruptcy Code provisions.
The figures for 2017 continue a trend of fewer filings over the last decade in the United States, a potential sign that personal debt is becoming more manageable for families. However, attorneys at Fesenmyer Cousino Weinzimmer cautioned against an overly optimistic analysis of these statistics.
“Nearly 800,000 people still needed bankruptcy to find a stronger financial footing,” said Danielle R. Weinzimmer. “Bankruptcy is a tool that hundreds of thousands of Americans rely on. We believe that the process should be accessible and affordable.”
About Fesenmyer Cousino Weinzimmer:
With three locations in Ohio — Columbus, Dayton and Cincinnati — Fesenmyer Cousino Weinzimmer helps clients find the best path forward for debt relief. Find out more about their services by visiting their website http://www.fcwlegal.com/, or by calling them at 877-654-LAWS.
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