Bankruptcy FAQ

Bankruptcy: Frequently Asked Questions (FAQ)

Empathetic, Professional Bankruptcy Attorneys Serving Cleveland Since 2003

When you call The Romano Law Firm for help handling your bankruptcy matter, you will receive thoughtful, strategic, and skillful legal representation of the highest quality. Cleveland bankruptcy attorney Joe Romano, Esq. has been serving members of his community in northern Ohio for more than 17 years, and he has helped thousands of people and entities resolve their financial conflicts as quickly and effectively as possible.

If you are considering bankruptcy, we urge you to call our Cleveland bankruptcy law firm as soon as possible. Bankruptcy matters are complicated, expensive, and impossible to handle without the aid of an experienced legal advocate. It would be our pleasure to be your trustworthy legal counselors during this time, and we are prepared to offer you a free, no-cost case evaluation as soon as possible.


Call (216) 238-0880 to schedule an appointment.


Bankruptcy – Frequently Asked Questions

If I file for bankruptcy, will it ruin my credit forever?
It is true that filing for bankruptcy does hurt your credit in the short-run, and your credit score will likely suffer for a short time. However, you may be able to obtain an auto loan with a doable interest rate within one to three years of your bankruptcy being finalized. In many ways, declaring bankruptcy may be just the reset button you need, and filing sooner rather than later could save your financial future from greater disaster.

Will bankruptcy remain on my record for the rest of my life?
Once your bankruptcy is finalized and your debts are paid or discharged, negative debts will be eliminated from your credit report. It is also true that your credit score will go down after your bankruptcy is made final; however, whether or not your score improves depends on whether you take the opportunity to get back on track and straighten out your finances during the years following your bankruptcy. If you make positive advances in paying off your debts and living within your means, you could see a significant improvement in your credit score within several years.

Will I lose all my possessions if I file for bankruptcy?
Not necessarily. Depending on the type of bankruptcy you file for, your debts will be classified and remedied differently, and your property and assets will be sorted into different categories. It is true that, in some types of bankruptcy, your major assets such as cars and real estate must be liquidated or sold in order to pay your creditors; however, this is not always the case. If there are certain possessions or ownership interests you wish to protect more than others, it is especially critical that you consult an attorney before making a move. Otherwise, you may unintentionally file for a form of bankruptcy that requires you to part with dearly held property.

Call (216) 238-0880 today to speak to a member of our team and schedule your free consultation with an experienced bankruptcy lawyer in Cleveland.

Our Clients Matter Most

Client Testimonials
  • No regrets!

    “He was so interested to listen to my concerns and ever more on helping me figure and fix things out! Truly the perfect bankruptcy attorney to fill your needs!”

    - Yho V.
  • Joe Romano did a great job for me.

    “He's knowledgeable, he's diligent, and he fought hard for me. I wouldn't hesitate to recommend him to anyone who needs legal help.”

    - Zeke R.
  • Extremely professional and prompt.

    “Mr. Romano was extremely professional and prompt in helping to resolve my matter. I am very grateful to have stumbled upon his services while browsing for representation on the internet.”

    - Jeff M.
  • Mr. Romano has worked with my family on several matters.

    “We have worked with him for over 7 years now and he comes highly recommended.”

    - Paula G.
  • What a great lawyer!

    “Joseph saved me tens of thousands with my bankruptcy. I wouldn't hesitate to recommend him to anyone.”

    - Kristina B.
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Results That Prove Themselves

Notable Cases
  • Successful Appeal In re DeVito

    When a Ch. 13 plan is filed it becomes the plan, superseding all previously filed plans. Court was wrong to dismiss case based on the non-confirmability of a chapter 13 plan that had been amended

  • Successful Defense Rhiel v. Seye (In re Kebe)

    Represented the 3rd party co-owner of property, showing that value of property to Seye outweighed the value of the property to the creditors of the debtor's bankruptcy estate.

  • First Circuit Court Level Decision In re Davis

    Sixth Circuit found that debtor's filing Chapter 13 bankruptcy are permitted to continue deductions made from payroll into retirement in the Means Test and can continue to fund the retirement plan throughout the life of the chapter 13 plan provided the debtor was doing so prior to the filing of the Chapter 13.

  • Successful Judgment Dawson v. J&B Detail

    Court determination that "On-Time Pay System" (kill-switch) is an attempt to collect a debt and must be removed from a vehicle upon the filing of a Ch. 13 bankruptcy)

  • Successful Defense Jennings v. Bodrick

    Creditor argued that debtor was in on a Nigerian scam to invest in the international sale of auto parts.

  • Successful Defense Thomas v. Kuhn

    Successful defense of a title company in a trustee's efforts to invalidate a mortgage and take property of debtor for benefit of creditors of the debtor.

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A Promise to Our Clients

What You Can Expect
  • Free Consultations

    Whether it's in person or through phone or video, your first initial consultation with us is free!

  • Results-Driven Legal Strategies

    With a strategy put in place after evaluating your case, Attorney Joe Romano can get you the results you need.

  • Direct Access

    When you call our office, don't expect to be passed around. You will get direct access to our attorney to speak about your case.

  • Knowledge & Experience

    With nearly two decades of experience, Attorney Joe Romano is equipped with the knowledge to handle the toughest of bankruptcy cases.

Ready to Take the First Step?

Our team is ready to help you get started with your bankruptcy matter. Request a free consultation today to discuss your case.