George Simons | October 19, 2022
Summary: If you're struggling with debt in Ohio, SoloSuit can help you find the relief you need.
Like most Americans, residents of Ohio are grappling with a large amount of personal debt, especially credit card debt. This is understandable considering the significant economic headwinds we're facing in the wake of the Coronavirus pandemic. Residents of Ohio, on average, are carrying more than $5,500 in credit card debt. In addition to a large amount of credit card debt, many Ohio residents are struggling with student loan debt. For example, Ohio ranked as the 8th worst state for the total amount owed toward student loans.
If you live in Ohio and are struggling with a mountain of debt (e.g, credit card debt, medical debt, auto loan debt, student loan debt etc.), you have options for debt relief. This can help you have greater financial flexibility and reduced stress and anxiety when it comes to balancing the checkbook each month.
Below is a list of debt relief programs and resources that are available exclusively to residents of the Buckeye State:
It is important to note that these programs are not available to all Ohio residents. To qualify for most of these programs, you must have significant financial hardship. For example, these programs are typically only accessible to residents with a current bank balance (checking and saving combined) that is under $2,001. You may also qualify with a bank balance under $3,001, but there must be evidence that you share your home with a person over the age of 60, or with someone who has a disability.
Another limitation is that your annual income must be at or below a certain amount to qualify for these programs and benefits. For example, if you are a single individual, you can only have an income of around $16,237 (before taxes). For every additional individual in your household, you can add $5,746 to determine eligibility. Basically, this means a household of two would only qualify if they have an income of $21,983 or less. A household of three would only qualify with an income of $27,729 or less.
Below is a list of commonly used strategies that have helped people obtain relief from some, or all, of their debt:
In addition to the paydown strategies described above, you may want to explore the benefits of a debt consolidation loan. This type of loan enables you to pay off various credit cards and other lines of credit so your monthly debt is streamlined and simplified to a single account.
A debt consolidation loan is generally considered to be an effective way to lower your monthly debt payments, especially if you have a good credit score and can secure the loan at a lower interest rate.
A debt consolidation loan will help you by giving you one low monthly payment to attend to instead of several smaller payments to numerous creditors. This will allow breathing room so you can pay your other living expenses like your mortgage or rent, groceries, and utilities.
The Federal Debt Collection Practices Act (FDCPA) protects consumers, like you, from abusive debt collection practices. Ohio also has laws in place to protect consumers. As an Ohio resident, you should learn about these laws to keep yourself safe from harassment from debt collectors.
The statute of limitations on debt sets a limit for debt collectors to take consumers to court over past-due debts. In other words, if you haven't made a payment or taken responsibility for a debt in a certain amount of years outlined by Ohio law, debt collectors cannot sue you for the debt you owe. Understand the statute of limitations on different types of debt in Ohio before you make any payments to a debt collector:
Ohio Statute of limitations on debt
Type of debt
Statute of limitations
Residents of the Buckeye State who are having a difficult time managing their debt, including monthly payment obligations going towards revolving credit card balances, student loans, auto loans, a mortgage payment, etc. need to be proactive and figure out how to get debt relief in Ohio. As described in this article, there are multiple options to help you achieve debt relief, or at the very least put you on a path to paying down your debt sooner rather than later. Those options include speaking with a debt counselor, applying for one or more debt relief programs available to Ohio residents, or possibly applying for a debt consolidation loan.
No matter the option you choose, SoloSuit is here to help. If you've been sued for debt, you can respond in 15 minutes by using SoloSuit's free Answer form. To learn more about how to respond to a debt lawsuit and win in court, check out this video:
SoloSuit makes it easy to fight debt collectors.
You can use SoloSuit to respond to a debt lawsuit, to send letters to collectors, and even to settle a debt.
SoloSuit's Answer service is a step-by-step web-app that asks you all the necessary questions to complete your Answer. Upon completion, we'll have an attorney review your document and we'll file it for you.
"First time getting sued by a debt collector and I was searching all over YouTube and ran across SoloSuit, so I decided to buy their services with their attorney reviewed documentation which cost extra but it was well worth it! SoloSuit sent the documentation to the parties and to the court which saved me time from having to go to court and in a few weeks the case got dismissed!" – James
You can ask your questions on the SoloSuit forum and the community will help you out. Whether you need help now or are just looking for support, we're here for you.
>>Read the FastCompany article: Debt Lawsuits Are Complicated: This Website Makes Them Simpler To Navigate
>>Read the NPR story on SoloSuit. (We can help you in all 50 states.)
Here's a list of guides for other states.
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