COVID-19: Bankruptcy Filing
COVID-19 is an unprecedented situation and the resulting financial uncertainty is a stressful and troubling position to be in. Thankfully, there are many bankruptcy options available for those that are struggling.
Celebrities declare bankruptcy too
Some of the most famous and well-known actors, business people and socialites have filed for bankruptcy.
Bankruptcy and repossession
Filing for bankruptcy may seem intimidating, but Chapter 13 and Chapter 7 can help you and your future. These provide the opportunity to reset your financial status and even gain back repossessed items.
Do I qualify for bankruptcy?
Your ability to file a Bankruptcy depends mostly on your affordability, or lack thereof, to pay towards your creditors.
Life after bankruptcy
One thing to always remember is rebuilding your credit will take time. Just as when you were starting out, it takes time to rebuild…
Bankruptcy myths
Many believe that filing for bankruptcy ruins your financial future and should be seen as a personal failure. This is simply not the case.
Can I file a bankruptcy without my spouse?
The short answer is, yes. If one spouse is carrying debt or the majority of the debt, that spouse may be desirous of filing a Chapter 7 or Chapter 13 Bankruptcy. A Bankruptcy filing is associated with a social security number and although only the filing party’s social security number will be listed and associated […]
4 Advantages over Creditors in Bankruptcy
Like most areas of law, people do not want to file a bankruptcy proceeding, people file bankruptcy because they have to. There are several different types of Bankruptcy filings. The most common type of bankruptcy is consumer bankruptcy. Consumer Bankruptcies are filed on behalf of an individual or a married couple under Chapter 7 and […]
5 Post Bankruptcy Tips to Remain Debt Free
After filing bankruptcy, you can follow these 5 tips to remain debt free and continue enjoying your financial freedom.
How Judgement Collection Can Be Halted Through Bankruptcy
We live in difficult economic times. It is often beyond one’s control if he or she loses a source of income, or has a family financial emergency that makes it difficult or impossible to pay all the bills in a given month. For instance, if the inability to make your required credit card payments continues, […]
Chapter 7 Bankruptcy as a First Option, Not a Last Resort
A recent blog by Steve Rhode of Huff Post was titled “Why a Chapter 7 Bankruptcy Should Be Your First Option and Not a Last Resort.” It discussed the financial benefits of exploring bankruptcy first in order to best address relieving debt. In Philadelphia and its surrounding counties, those dealing with credit card debt, collection […]
Improve Credit Score After a Bankruptcy Filing
One of the most common questions I receive is “How can I improve my credit after a bankruptcy filing?” My advice involves making timely and regular payments on a mortgage or rent, a vehicle if the Petitioner owns one and equally important, not incurring any new debt after a bankruptcy filing. Further, our firm recommends […]
Staying a Real Estate Tax Sale by way of a Bankruptcy Filing
When the owner of real property fails to make regular payments on municipal debt levied on his/her property, that property may be sold at a real estate tax sale to allow the city/municipality to recover any unpaid debt. These debts can include outstanding water and sewer bills, school district taxes, and real property taxes. The […]
Restoration of Driver’s Privileges and Bankruptcy
The filing of a Petition in Bankruptcy may be of assistance in restoration of a suspended driver’s license in Pennsylvania. First of all it must be determined why the Petitioner in Bankruptcy has his or her driver’s license suspended in the first place in that bankruptcy filings are often most helpful when the underlying license […]
Bankruptcy and Mortgage Modification
Most homeowners who have defaulted on their mortgage have heard the term or tried for a “Modification of Mortgage,” in short a modification. A modification is a change of the terms of the original mortgage agreed to by the lender and borrower. A Mortgage modification is likely to include the following: Reduction in interest rate […]