OHIO BANKRUPTCY LAW
Ohio bankruptcy: Attorneys, Statistics, Exemptions and Courts.
Ohio Bankruptcy Statistics: In 2009, 70,789 bankruptcies were filed in Ohio. Business bankruptcies accounted for 2,039 of the total bankruptcies and personal bankruptcies accounted for 68,748 or more than 97.12% of Ohio’s bankruptcies.
Ohio State Bankruptcy Exemptions:
The home of the debtor or the dependents of the debtor is exempt for up to $20,200.
When the property is owned by a married couple as tenancy by the entirety, the entire property may be exempt, if the debt belongs to only one of the spouses.
The following exemptions are unlimited:
The following items are exempt at a sum not exceeding $525 per item or $10,750 in total:
The following exemptions are subject to a variety of restrictions:
When filing bankruptcy in Ohio, life insurance is exempt in the following three scenarios:
The following insurance plans are also exempt:
The following pension plans are exempt to the extent that they are needed for support:
The following individuals and their survivor’s benefits are wholly exempt when filing bankruptcy in Ohio:
The following public benefits are exempt when filing bankruptcy in Ohio:
Tools of the trade
The exemption for tools of the trade in an Ohio Bankruptcy may not exceed $2,025.
Recovery for lost future earnings received during 12 months before filings for bankruptcy is wholly exempt.
Wages earned, but not paid, are exempt at either 75% of the earnings or 40 times the minimum wage (state or federal), whichever is higher. A judge may authorize a higher exemption for low income debtors.
In Ohio, when filing for bankruptcy, a debtor can exempt an additional sum not exceeding $1,075.
Federal Bankruptcy Exemptions: No
Ohio Bankruptcy Courts:
United States Bankruptcy Court in the Northern District Court of Ohio has jurisdiction in the following counties: Allen, Ashland, Ashtabula, Auglaize, Carroll, Columbiana, Crawford, Cuyahoga, Defiance, Erie, Fulton, Geauga, Hanckock, Hardin, Henry, Holmes, Huron, Lake, Lorain, Lucas, Mahoning, Marion, Medina, Mercer, Ottawa, Paulding, Portage, Putnam, Richland, Sandusky, Seneca, Stark, Summit, Trumbull, Tuscarawas, Van Wert, Wayne, Williams, Woods, Wyandot.
United States Bankruptcy Court in the Southern District Court of Ohio has jurisdiction in the following counties: Adams, Athens, Belmont, Brown, Butler, Champaign, Clark, Clermont, Clinton, Coschocton, Darke, Delaware, Fairfield, Fayette, Franklin, Gallia, Greene, Guernsy, Hamilton, Harrison, Highland, Hocking, Jackson, Jefferson, Knox, Lawrence, Licking, Logan, Madison, Meigs, Miami, Monroe, Montgomery, Morgan, Morrow, Muskingum, Noble, Perry, Pickaway, Pike, Preble, Ross, Scioto, Shelby, Union, Vinton, Warren, Washington.