If you are filing for bankruptcy in Ohio, you should note that Ohio does not follow the federal bankruptcy laws. Instead, there is specific Ohio bankruptcy law that the bankruptcy courts in Ohio use to give judgment regarding the various bankruptcy cases. filing bankruptcy as per the Ohio bankruptcy laws, require you to be a permanent resident of Ohio or Ohio must be the place you are running your business.

Can the Debtor Use the Federal Bankruptcy Laws Along With the Ohio Specific Bankruptcy Laws?
The good news is that, the debtor can use the federal set of laws along with the state specific bankruptcy laws in Ohio. However, you can use this option only regarding the various properties exemptions. There are differences between the federal set of exemptions and the properties exemptions as interpreted under the Ohio bankruptcy laws. An expert bankruptcy attorney knows how to use both the federal and state specific exemptions, in order to get the maximum benefits in favor of the debtor. Therefore, be very careful while hiring the bankruptcy attorney, if you are filing bankruptcy under the Ohio bankruptcy laws.

Bankruptcy Courts In Ohio

The bankruptcy courts that deal with the various bankruptcy cases in Ohio, follow the federal statutory law as described in the in Title 11 of the United States bankruptcy Code. There are two bankruptcy courts in Ohio and both are federal bankruptcy courts - Ohio Northern Bankruptcy Court and Ohio Southern Bankruptcy Court.

Properties Exemptions

The properties exemptions as per the Ohio bankruptcy laws have been described in the following ways:

The homestead exemptions are allowed up to the amount of five thousand dollars.

You can also get one car or any other vehicle exempted up to the amount of one thousand dollars.

The Ohio bankruptcy laws have also declared cash up to four hundred dollars as exemptible.

Home appliances such as refrigerator etc have also been included in the exemptible personal properties, but only up to the amount of five thousand dollars as a whole.

Furniture or other household commodities are also allowed to be exempted under the Ohio bankruptcy laws. The maximum amount that you can exempt in this category is one thousand five hundred dollars.

The new bankruptcy laws in Ohio have now also made provision for personal property exemption for things that you cannot live without, up to the amount of four hundred dollars.

The bankruptcy courts in Ohio also allow tools and trade exemptions for up to seven hundred and fifty dollars.

Like most of the other states, the Ohio bankruptcy laws also include health aids, group life insurance policy benefits, child support aids in the list of exemptible properties.

The bankruptcy cases in Ohio are processed in the various bankruptcy courts of Ohio, as per the Ohio bankruptcy laws. There are two bankruptcy courts in Ohio and all the bankruptcy cases are processed there only. However, in order to filing bankruptcy in the Ohio bankruptcy courts, you need to be a permanent resident of Ohio.

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