What Bankruptcy Chapter is Used to Reorganize Debt in Pennsylvania?
When you file for bankruptcy in Pennsylvania, you’ll naturally have many questions to ask your Philadelphia bankruptcy lawyer. One of the very first questions you should discuss with your attorney is which type, or chapter, of bankruptcy is most appropriate for you. If you are trying to reorganize your debts, you will most likely want […]
What Are the Credit Counseling and Debtor Education Requirements for Bankruptcy in Pennsylvania?
Bankruptcy involves a few mandatory steps, including two educational course requirements. The first course occurs before the debtor even files for bankruptcy, and is called “credit counseling.” The second course occurs after filing but prior to discharge, and is called “pre-discharge debtor education” or simply “debtor education.” Regardless of whether a person is filing under […]
When Does Chapter 7 Bankruptcy in Pennsylvania Come off Your Credit Report?
If you file for bankruptcy in Pennsylvania, the bankruptcy will be noted on your credit report, regardless of which court you file in or which chapter you file under. Even though the bankruptcy will initially lower your credit score, the elimination of your dischargeable debts will empower you to build good credit in the future. […]
Can Creditors Try to Collect a Debt After You File for Bankruptcy in Pennsylvania?
In March, Pittsburgh-based battery maker Aquion Energy Inc. filed for bankruptcy after failing to generate the necessary funding to continue business operations. In response, Aquion’s biggest creditor – the Pennsylvania Department of Community and Economic Development (DCED) – made clear its intentions to protect its own best interests. According to a statement issued by DCED […]
Can You Appeal if Your Bankruptcy Case is Dismissed in Pennsylvania?
In July 2012, Henry W. Jarusik and Kathleen M. Brady filed for bankruptcy in the United States Bankruptcy Court for the Eastern District of Pennsylvania, which has courthouse locations in Philadelphia and Reading. Approximately two years later, in September 2014, their case was dismissed by the bankruptcy court after a motion was filed by the […]
Will I Have to Close My Business if I File for Bankruptcy in Pennsylvania?
Earlier this month, electronics and clothing retailer HHGregg announced a decision to close 88 stores in over a dozen states, including Pennsylvania, as part of an effort to restructure the business through Chapter 11 bankruptcy. However, though often utilized by large chains and corporations like HHGregg, Chapter 11 is seldom suited to local family-owned businesses […]
What Happens if You Don’t Disclose Your Full Income in a Pennsylvania Bankruptcy Case?
Abby Lee Miller, star of Lifetime’s popular Dance Moms reality TV show, drew unwanted publicity last month after her scheduled February 24 sentencing hearing for bankruptcy fraud was postponed until May by a Pittsburgh federal judge. Miller’s attorneys stated intent to seek probation, while prosecuting attorneys pushed for a sentence which could exceed two years. […]
Can Filing for Bankruptcy Save My Restaurant in Pennsylvania?
2016 was a rocky year for restaurant chains. The flatbread franchise Cosí – which itself represents about a dozen additional franchises – became the eighth chain to declare bankruptcy by the end of September. During the first months of 2017, Pittsburgh-based Perkins owner Unique Ventures Group filed for Chapter 11, closing nearly 30 locations. Struggling […]
How Do You Get a Car Loan After Bankruptcy in Pennsylvania?
Getting an auto loan to purchase a car can feel like a hassle under any circumstances – and if you have a bankruptcy in your past, you’ve probably felt some fear and anxiety that you’ll never be able to qualify for a car loan again. Fortunately, it simply isn’t true that you can’t get an […]
Which Debts Cannot Be Discharged by Filing for Bankruptcy in Pennsylvania?
Bankruptcy has the power to eliminate your liability for various types of debt, including credit card debt, medical debt, and other major sources of debt in households across Pennsylvania. However, while the bankruptcy discharge is fairly comprehensive, there are several types of debt which bankruptcy cannot eliminate, known as “non-dischargeable” debts. In this article, our […]
Who Can File for Chapter 7 Bankruptcy in Pennsylvania?
There are two types of bankruptcy for individuals: Chapter 7, which is also called “liquidation” or “straight” bankruptcy, and Chapter 13, a longer process sometimes referred to as a “wage earner’s plan” or “reorganization.” Because there are major differences between these two forms of consumer bankruptcy – including differences in the way filers’ financial obligations […]
If I File for Bankruptcy, What Happens to My Spouse?
Choosing to file for bankruptcy in Pennsylvania or New Jersey is a major decision that can have significant effects not only upon your day-to-day life, such as your daily spending habits and credit card use, but also upon the long-term, future management of your family’s finances. Therefore, it’s important for married couples to understand how […]
How Many Times Can You File for Bankruptcy in Pennsylvania?
Life circumstances sometimes go beyond your control, and if you experience multiple medical emergencies or job losses, it may become necessary to file for bankruptcy on more than one occasion. However, as our Philadelphia bankruptcy attorneys will explain, the timing of your second bankruptcy case is critically important and must be planned carefully. If you choose […]
Is January the Best Month of the Year to File Bankruptcy?
According to statistics supplied by the United States Bankruptcy Court for the Eastern District of Pennsylvania, nearly 9,381 bankruptcies have been filed in the current fiscal year. However, these filings are not distributed evenly across the year. The number of bankruptcy cases fluctuates from month to month, which begs the question: is there really such […]
When Can I Buy a House After Chapter 7 Bankruptcy in Pennsylvania?
Filing for bankruptcy doesn’t have to signal the end of your dreams of homeownership. Despite the widespread myth that declaring bankruptcy will destroy your ability to own property, the reality of the situation is more nuanced. Our Philadelphia Chapter 7 bankruptcy lawyers explain how filing for Chapter 7 may affect your ability to buy a […]