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Published on Thursday, Oct 02, 2008
COLUMBUS: A change in Ohio law is expected to help many bankrupt Ohioans to keep more assets — and in many cases, their homes.
The new law took effect Monday.
The new measure allows residents to keep $20,200 in home equity.
This marks an increase of $15,200 from previous regulations.
Bankruptcy lawyers say the change will allow some Ohioans to keep their homes.
Ohio hadn't changed its bankruptcy standards since 1979.
The law change also allows residents to keep additional personal assets, such as jewelry and vehicles.
Lawyers have been encouraging residents to hold off filing for bankruptcy until the new rules took effect.
They say they expect a temporary increase in such filings from people who had been waiting.
COLUMBUS: A change in Ohio law is expected to help many bankrupt Ohioans to keep more assets — and in many cases, their homes.
Get the full article here.
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