Lucas M. Ruffing - Bankruptcy Law

“Bankruptcy is a word that is often misunderstood” – Red Lobster - Lucas Ruffing Law Red Lobster gets it. Bankruptcy is the solution to the problem, not the problem itself. Red Lobster found itself with a debt structure that it couldn’t handle, so it looked for help. Bankruptcy was there to help. That might surprise some people, but if you know anything about bankruptcy, you would

Rising Property Taxes - Lucas Ruffing Law If you’re a homeowner, or have been paying any attention to the housing market over the past few years, you know that home values have soared. With soaring home values, comes soaring property taxes . This can affect people in multiple ways. Below are a few of the simple ways these rising home valu...

Rudy Giuliani’s Bankruptcy: 2 Lessons to Learn - Lucas Ruffing Law Rudy Giuliani was ordered to pay $148M as part of a civil lawsuit judgment . As part of a strategy regarding that large judgment, Giuliani has filed for bankruptcy protection. This article discusses the Giuliani bankruptcy , and mentions a couple items that we can learn from: Fact 1: Bankrupt

FTX Chapter 11 Bankruptcy Hopeful to Repay Creditors 100+% - Lucas Ruffing Law FTX is the infamous failed cryptocurrency exchange led by CEO Sam Bankman-Fried , who was found guilty of fraud, among other criminal charges, and sentenced to prison. FTX then found itself embroiled in a Chapter 11 Bankruptcy. In an amazing turn of events, it has been reported that the Chapter

What does “Equity” mean? - Lucas Ruffing Law When filing Chapter 7 bankruptcy, the term “equity” is very important, and is used all the time. But what does it mean? And why is it so important in bankruptcy? NOTE: Chapter 7 “Liquidation” Bankruptcy is much different than Chapter 13 “Reorganization” Bankruptcy — don’t con

The Cultural Significance of Trump’s Bankruptcies - Lucas Ruffing Law Overview: Trump being linked to multiple bankruptcy filings, then becoming President of the United States has normalized filing bankruptcy for the rest of us. The year is 2024. We are in another Presidential election year, and another showdown between Joe Biden and Donald Trump. In election yea

2023 Bankruptcy Filings: Crunching the Numbers - Lucas Ruffing Law During the pandemic, bankruptcy filings plummeted . This was the opposite of what many “experts” thought was going to happen. In fact, bankruptcy filings continue to be down significantly from pre-pandemic numbers. Let’s take a look at a few metrics in the Southern District of Ohio: Year Over ...

Chapter 13 Fee Structure — Lucas Ruffing Law Last month I wrote about the typical fee structure for a Chapter 7 . This month I would like to shed some light on the typical fee structure for Chapter 13 Bankruptcies. Consultation: Free Attorney fee required to file the case: $100* + Court fee – required to file the case (as of December, 2

The Cost of Chapter 7 Bankruptcy — Lucas Ruffing Law As is often the case with my blog, I’m trying to combat the many misconceptions about filing bankruptcy. In this month’s blog, the misconception is regarding the cost of filing Chapter 7 Bankruptcy. This USA Today article states that the “Total attorney fees for Chapter 7 bankruptcy typically ...

If You Have Debt: Filing Bankruptcy > Not Filing Bankruptcy — Lucas Ruffing Law PLAIN & SIMPLE: Filing for Bankruptcy and eliminating your debts > not filing for bankruptcy and continuing to have debt. I know, I’m a broken record when it comes to this subject matter. But I continue to stress the message because I continue to see news articles that stigmatiz

Struggling with Debt Lately? You’re Not Alone! — Lucas Ruffing Law I am always striving to remove the stigma around filing bankruptcy. Today I am trying to do that by reminding you that more and more Americans are facing the same debt struggles you are. This Business Insider article outlines a few key metrics that indicate American consumers, like you and

The Supreme Court Nixed President Biden’s Student Loan Forgiveness… Now What? — Lucas Ruffing Law Late last month (June, 2023), the United States Supreme Court struck down President Biden’s student loan forgiveness plan. Agree with it or not, it happened. So what’s next for student loans? Many authorities have again discussed bankruptcy as the best route for student loan forgiveness. B

Bankruptcy is the Good that Eliminates the Bad  — Lucas Ruffing Law  “You’re already in a tough situation; you already have debt; you’re already struggling with bills. You’re already living paycheck to paycheck. The tough things already exist. BANKRUPTCY IS THE LIFELINE TO ELMINATE THE DIFFICULTY! BANKRUPTCY CAN GIVE YOU A FRESH START!” ^ That ^ is

AEP’s 28% Increase Begins June, 2023 — Lucas Ruffing Law June 1, 2023, marked the beginning of AEP’s 28% price increase . Inflation & cost of living increases have been on everyone’s minds the past few years. Whether it’s rent, interest rates, food, gas, etc., it seems like every item in our monthly budgets has increased in cost. This latest inc...

Bankruptcy: Amid Grim Outlook on US Economy, Know How to Eliminate Your Debts — Lucas Ruffing Law At least one experienced business expert – Former Home Depot CEO Bob Nardelli – has grim outlook for the US economy. In general, Bob Nardelli (a successful American businessman with decades of experience), sees many signs that the US economy is headed in a negative direction. (Take this person.....

Consumer Debt Hits Record High: $16.9 Trillion — Lucas Ruffing Law Consumer debt has risen to a record high. This data includes, mortgages, car loans, and credit cards. Delinquencies on these categories are also on the rise. What does this mean? It means you’re not alone. Much of America is struggling with debts. Much of America is defaulting on their mortgage

Bankruptcy Filings on the Upswing in 2023 — Lucas Ruffing Law If you’ve read my blogs in the past 3 years , you’d know that bankruptcy filings have decreased significantly since the beginning of the COVID-19 pandemic. As of January, 2023, that downward trend seems to be slowing down, and potentially even reversing. January, 2023, marks a number of signific...

Tax Season 2023    — Lucas Ruffing Law Every year, tax season is the busiest time of year for bankruptcy filings . Ohioans seize this opportunity to use a portion of their tax refund to eliminate their debts once and for all. Honestly, what a relief that would be. Ohioans are eagerly awaiting their W-2s so they can get their tax refund

Another domino falls!

Getting Closer to Eliminating Student Loans in Bankruptcy! — Lucas Ruffing Law The push to eliminate student loans is growing. Every day there’s a new story. Every day another politician is talking about possible solutions. The latest domino to fall is President Biden’s Administration not objecting to particular bankruptcy cases that are attempting to discharge student loa...

Good luck winning the jackpot this coming Wednesday! If you don't, you can still eliminate your debts with Bankruptcy:

Delaware’s “Queen of Hearts” $200,000 Jackpot, and Bankruptcy      — Lucas Ruffing Law  What will you do if you win the Scoreboard’s “Queen of Hearts” jackpot?! I have no inside information, but it appears the jackpot will be around $200,000 this coming Wednesday when the Scoreboard Pub & Grill draws a winning name. How “Queen of Hearts” is played : Essentially,

Personal Service During Your Bankruptcy — Lucas Ruffing Law I carry a business cell-phone with me. That means that you can text/call 740-815-1114 anytime and there’s a good chance I’ll answer immediately or within a short time. Communication is important to Lucas Ruffing Law. Clients love this feature of the firm: ·   &nbs

Yes, you can buy a car after you file bankruptcy!

Purchasing a Vehicle After Bankruptcy — Lucas Ruffing Law One of the most common questions I get is, “Will I be able to purchase a vehicle after I file bankruptcy?” The simple answer is, “Absolutely, yes.” As with everything, there are details behind that simple answer: Chapter 7 Bankruptcy – Purchasing a vehicle after filing chapter 7 : Are

Fun success story!

Bankruptcy: Update From a 2019 Client — Lucas Ruffing Law Many people are still afraid to pursue the benefits of bankruptcy. Why? I think it’s the human nature of “fearing the unknown.” But bankruptcy is another example where “knowledge is power.” What I mean is that over and over I talk with prospective clients who have tried EVERYTHING to not f...