5 Things Bankruptcy Can Do for You
Though it’s sometimes portrayed as the darkest of all dark financial fates, bankruptcy is a vital part of the capitalist system and was built into our code of law for a reason. It’s a valid way to handle a debt problem that’s gotten out of control. Filing for bankruptcy is a big decision. But if […]
What You Should Know About Filing Bankruptcy in Your Golden Years
Bankruptcy among older Americans is on the rise. Seniors who have worked hard all their life and expected to enjoy a peaceful retirement often find themselves beset on all sides by medical bills, loans, and credit card bills which start eating into their nest egg and eating into their savings very quickly. Other social and […]
Are You About to Become the Victim of a Debt Collection Scam?
As Philadelphia bankruptcy attorneys we meet people who are in over their heads with bad debt every day. Some of them face calls from legitimate debt collectors. But some are also being hounded by fraudulent debt collectors. Debtors who are hounded by calls every day sometimes have trouble telling the difference, and could wind up […]
Tips for Tackling Medical Debt
Medical debt is a huge contributor to personal bankruptcy. In fact, it’s the number one reason why Americans file bankruptcy. It doesn’t take much for hospital bills to go spiraling out of control. Try these strategies if you’re struggling with medical debt. Appeal Insurance Company Decisions A denial from your insurance company can be financially […]
Do You Have to Be Behind on Your Bills to File for Bankruptcy?
As Philadelphia bankruptcy attorneys the most common mistake we see people making is waiting too long to file bankruptcy. Fear keeps a lot of people from facing their financial situation head on and seeing it for what it is. Most people wait until every bill is behind schedule, interest is accruing at an alarming rate, […]
Will I Lose My Stuff During a Bankruptcy?
The idea you’ll lose all your stuff in bankruptcy is perhaps the biggest misconception people have about bankruptcy, and the number one fear that ensures people wait too long to file. Plenty of clients come to our offices with visions of someone carting off everything they own in a moving van. Fortunately, that never happens. […]
9 Risk Factors that Might Make a Creditor Challenge Your Bankruptcy
The vast number of bankruptcies we deal with are pretty routine. While bankruptcy exemption schedules are exceedingly complex and while it is intensely possible to make big mistakes that cause deep, heart wrenching problems, we don’t tend to see a lot of debtors getting challenged by creditors. Yet the idea of facing down creditors scares […]
In The News: Navient Student Loan Lawsuit
As Philadelphia bankruptcy attorneys we speak to people who are in over their head with student loan debt almost every week. So we have been watching the news very carefully to keep track of developments in the nationwide student loan crisis. Today’s hot news is a story about a class action law suit against a major […]
What is a Mortgage Cram Down?
If you’re considering Chapter 13 Bankruptcy because you want to save property you might have already heard of a “mortgage cram down” which can save you a great deal of money on loans. Some of our clients have even had fears about this term, as they thought it might mean they would be required to […]
Income Tax Advantage of Personal Bankruptcy
Although the word bankruptcy may not sound appealing at first, there are many advantages of filing bankruptcy. This article will concentrate on the often overlooked income tax advantage of filing Consumer Bankruptcy. Outside of the bankruptcy realm, if a debt is forgiven or deemed uncollectible for less than the full amount due and owing, the […]
3 Things You Need to Know About Bankruptcy
If you’re in debt and you’re thinking about filing for bankruptcy, then it’s likely that you’re worried. Bankruptcy is a complex and confusing process. A lot is at stake and your financial future is uncertain. Learn from the experienced bankruptcy attorneys at Sadek Bankruptcy Law Offices to better prepare yourself for the road ahead. […]
Are You Dealing with Zombie Debt?
Maybe you paid it. Maybe it’s just so old you don’t even remember it. Or maybe it doesn’t even belong to you, just someone who shares your name. Whatever the cause, it’s a zombie debt, a debt that’s hard to slay because it just seems to keep coming back. And it can be some of […]
5 Reasons Credit Counselors May Not Be the Answer to Your Debt Problem
One of the options many of our clients consider before showing up for their free consultation is a credit counseling service. These services are not to be confused with the mandatory credit counseling all bankruptcy filers have to go through. One gets involved in managing parts of your financial life, while the other is an […]
7 Things You Should Never Do When a Debt Goes to Collections
So your financial situation is getting worse and one of your debts has gone to collections. While you shouldn’t panic, there are plenty of things you can do at this point to make your financial life a lot worse. Here are seven things you should avoid at all costs. Ignore the initial letter. When your […]
What to Expect at a 341 Hearing
When you file for bankruptcy you will, at some point, find yourself at a 341 hearing. This hearing is also called the meeting of the creditors hearing. You, your attorney, any creditors who wish to show up and your trustee will be present. For the most part, these hearings are not terribly exciting, though we […]