Why You Shouldn’t Be Afraid of Bankruptcy Legal Fees
Many people are afraid to file for bankruptcy because they fear the costs. But filing does not have to represent a financial hardship. It’s just a matter of understanding what you’ll need to pay and when, as well as a matter of understanding how the costs of bankruptcy will fit into your overall financial picture. […]
Why You Must Understand the Difference Between Chapter 7 and Chapter 13 in Philadelphia
There is a world of difference between the two forms of bankruptcy available to the average debtor. It is very important to educate yourself about them, so you can work with your attorney to choose the filing that’s right for you. As Philadelphia bankruptcy attorneys we will give you advice based on your financial situation […]
7 Things You Should Avoid Before Filing a Bankruptcy in Philadelphia
If you know you’re getting ready to file for bankruptcy there are some actions you should avoid. Some of them can hurt your case, or at least raise questions about your motivations and intentions. Taking any of these actions can also reduce the number and type of exemptions you’re entitled to, which means you could […]
How Bankruptcy Affects Utility Bills in Philadelphia
Some of our clients are having trouble with basic expenses by the time they reach us. This can include having issues with utility bills. Fortunately, bankruptcy is meant as a fresh start. Both Chapter 7 and Chapter 13 bankruptcy are also structured in a way that’s meant to allow day-to-day life to continue while you […]
How Bankruptcy Affects Your Car in Philadelphia
Most of our society is car-dependent, so there’s little wonder most of our clients come to us with many concerns about protecting their ability to drive during and after the bankruptcy process. Philadelphia has an extensive public transportation system, but it’s not sufficient to meet the needs of every client. Fortunately, bankruptcy law and bankruptcy […]
What Happens to Your Credit Score After Bankruptcy?
Fear. It’s usually the overriding emotion for anyone contemplating a bankruptcy. And one of the most common fears is the concern that someone who files for bankruptcy won’t be able to function in the modern world. After all, so much depends on our credit scores. Car insurance rates. The ability to secure a place to […]
Are You Waiting Too Long to Seek Bankruptcy Relief?
Sometimes our clients make a big mistake before they ever reach us: waiting far too long to declare bankruptcy. Waiting means your options for debt relief dwindle, and it means exposing yourself to unnecessary pain and stress as you continue to fight your creditors. Often, this happens for one of two reasons. Sometimes it happens […]
What is the Process for a Mortgage Foreclosure in Pennsylvania?
In our country’s economic climate, it is common for Pennsylvanians to fall behind on financial obligations like paying off college loans, utility bills, and mortgages. Defaulting on mortgage payments is a very serious matter, as no one wants to find themselves or their families without a place to call home. If you are a resident […]
Can Bankruptcy Stop Eviction in Pennsylvania?
Falling on hard times and not being able to pay your bills is an awful feeling. Even more awful is the thought of being evicted because you defaulted on rental payments for your apartment, condo, or house. Instead of feeling defeated and giving up on the home you are living in, be proactive. Even though […]
Can Bankruptcy Stop Child Support in Pennsylvania?
Bankruptcy and divorce can often go hand in hand, especially when the breakdown of a marriage was spurred by financial issues. When a divorcée files for bankruptcy, questions often arise as to how this filing will affect financial obligations such as alimony and child support. It is important for individuals who have recently filed for […]
The Counties in Pennsylvania with the Most Foreclosures in 2017
When a homeowner in Pennsylvania falls behind on his or her mortgage, the lender may seek to remedy the situation by initiating foreclosure proceedings. Unless the homeowner takes immediate and strategic action, such as filing Chapter 13 bankruptcy, he or she is at serious risk of losing the property forever. In this article, the Philadelphia […]
Proving Undue Hardship for Student Loans in Pennsylvania
A college education is more expensive today than ever before. Student loan debt has skyrocketed to unprecedented heights during the past decade, climbing almost 150% from $833 billion around 2007 to the current peak of roughly $1.4 trillion. According to Experian, more than one in 10 Americans has at least one student loan, while the […]
What is the Role of a Trustee in Chapter 13 Bankruptcy Filings in Pennsylvania?
Chapter 13 bankruptcy gives homeowners extra time to cure past due mortgage payments, allowing debtors to avoid foreclosure. Chapter 13 can also reduce debts, freeze collection efforts, stop car repossession, and build a platform to make other financial improvements. However, in order to complete Chapter 13 successfully, debtors must make recurring payments to a bankruptcy […]
What is the Difference Between Offer in Compromise and Bankruptcy in Pennsylvania?
There are many ways to lower your debt if you’re struggling to stay afloat financially. Two methods include personal bankruptcy, a legal process which is designed to reduce or eliminate certain debts, and “offers in compromise” (OIC), which are available through the Internal Revenue Service (IRS) for eligible individuals. While both can drastically reduce an […]
Liquidation Exemptions from Chapter 7 Bankruptcy in Pennsylvania
Chapter 7 is the most popular bankruptcy option among Pennsylvania residents. The Chapter 7 bankruptcy process tries to compensate creditors using proceeds derived from liquidation of the debtor’s assets, while the debtor benefits from discharge, or cancellation, of various debts. Though Chapter 7 is built around liquidation, various bankruptcy exemptions may prevent the liquidation of […]