What Are The Signs That I Should Consider Bankruptcy Or A Bankruptcy Alternative
You may wish to review your financial situation with a bankruptcy attorney if you are experiencing any of the following:
- Falling behind on home or car payments or paying on âthe last dayâ
- Making minimum credit card payments
- Paying one card with another
- Purchasing necessities, such as food and medicine, with credit cards
- Having little or no savings
- The sudden termination of a credit card or credit line
- Lack of health insurance or other necessary insurance coverage
- Financial concerns are beginning to affect your health, work, and family relationships
A good bankruptcy attorney will review all of your options with you, such as debt settlement, debtor defense, mortgage foreclosure defense, and mortgage modification, not just bankruptcy. In fact, a visit to an experienced bankruptcy attorney may help you avoid bankruptcy, if there are viable alternatives. If you do need to file for bankruptcy, your attorney should thoroughly explain the chapters of bankruptcy available to you and the pros and cons of each. > > More
Middle District Of Pennsylvania
The Middle District of PA is divided into two divisions: Harrisburg and Wilkes-Barre.
Cases filed in Adams, Centre, Cumberland, Dauphin, Franklin, Fulton, Huntingdon, Juniata, Lebanon, Mifflin, Montour, Northumberland, Perry, Snyder, Union, and York counties go to Harrisburg, while cases filed in Bradford, Cameron, Carbon, Clinton, Columbia, Lackawanna, Luzerne, Lycoming, Monroe, Pike, Potter, Schuylkill, Sullivan, Susquehanna, Tioga, Wayne, and Wyoming counties go to Wilkes-Barre.
To visit the Middle District of PA bankruptcy court website, .
How Do You Pay For A Pennsylvania Bankruptcy
How you pay for bankruptcy also depends on the chapter you file. All court costs and attorney fees must be paid before your Chapter 7 case is filed. Our Pennsylvania Chapter 7 lawyers offer payment plans, but you must be paid in full before your case will be filed.
Chapter 13 cases are typically more expensive and work differently. While there is an upfront cost, including any court filing fees, a substantial portion of your fees could be paid through the bankruptcy plan. This allows you to spread the cost of your bankruptcy out over three to five years.
The court also monitors bankruptcy fees. All bankruptcy attorneys must file fee disclosures and, in Chapter 13 cases, fee applications seeking the courts approval.
Don’t Miss: Epiq Bankruptcy Solutions Llc Ditech
May Senior Citizens File For Bankruptcy
There is no age limit on the protections offered by the bankruptcy code, and seniors are seeking relief under the Bankruptcy Code more and more. In some ways, it is easier for seniors to discharge debt under Chapter 7 than younger people, because their social security income does not count towards the bankruptcy means test. Bankruptcy can protect a seniorâs assets, such as a home or pension. Bankruptcy is not always the best solution for seniors, but it is an option that seniors having debt problems should discuss with a bankruptcy attorney. We offer discounts for seniors. > > More
Bankruptcy Exemptions: Property You Can Keep During A Chapter 7 Bankruptcy
When someone files for a Pennsylvania Chapter 7 bankruptcy, the court will appoint a trustee to gather and sell the filers non-exempt assets. The money received from the sale will be used to pay the filers creditors. However, filing for a Chapter 7 bankruptcy does not mean that someone needs to give up all their property.As noted above, only non-exempt assets will be sold during a Chapter 7 bankruptcy.
They key to knowing what property can be kept during a Chapter 7 bankruptcy is in understanding the state and federal bankruptcy exemptions. Pennsylvania is one of the few states that has its own set of exemptions, and also allows filers to use the federal exemptions. However, filers must choose to use either the Pennsylvania exemptions or the federal exemptions. When thinking about exemptions, it is important to remember that, if a couple files for Chapter 7 bankruptcy together, the exemption amounts will be doubled.
The list of federal exemptions is quite lengthy, and some of the more obscure exemptions will not apply to many filers. However, the more common federal exemptions are:
- Homestead: $25,150 in real property
- Vehicle: $4,000
Recommended Reading: Epiq Bankruptcy
Is There A Statute Of Limitations On Debt In Pennsylvania
Yes. The Statue of Limitations on unsecured debt, such as unpaid credit card balances, is four years. This means that the creditor has four years to sue you, or the debt becomes essentially noncollectable. However, the Statute of Limitations is an affirmative defense, meaning that it is a defense that you must raise. For more on the Pennsylvania Statute of Limitations, see our posts on stopping vulture debt collectors and costly Statute of Limitations mistakes. > > More
Opt For Chapter 7 If You Hope For A Quick Divorce
If your goal is to finalize your divorce as quickly as possible so you can move on with your life, opt for chapter 7 bankruptcy, if possible. Since chapter 7 eliminates all debt that is considered dischargeable within a three to six month time period, you can file for divorce sooner if you opt for this type of bankruptcy.
Its important to understand that if you choose chapter 13 bankruptcy, a three to five year payment plan will be set up and may significantly lengthen your divorce process. If possible, consult a bankruptcy lawyer to determine if you are a good candidate for chapter 7.
Read Also: Sba Loan Bankruptcy Discharge
United States Bankruptcy Court
Filing Fee: $338.00 Payable By: Attorneys may pay by check money order certified bank check cash or credit card . Personal and Third Party Checks cannot be accepted. Pro-se debtors must make all payments in cash or money order made payable to CLERK, U.S. BANKRUPTCY COURT. Do NOT send cash through the mail.
If the debtor is an individual the fee may be:
- Paid in installments. A signed application must be filed for the courts approval Official Form 103A or
- Waived. The debtor must file a signed Official Form 103B: Application to have the Chapter 7 Filing Fee Waived and Schedules I and J for the courts approval.
YOUR CASE MAY BE DISMISSED IF YOU DO NOT FILE THE REQUIRED DOCUMENTS ON TIME.
DOCUMENTS DUE AT TIME OF FILING OF BANKRUPTCY PETITION
- Certificate of Credit Counseling and Debt Repayment Plan or a request pursuant to 11 U.S.C. § 109)
- Creditor Matrix Pursuant to Local Bankruptcy Rule 1007-3 See
DOCUMENTS DUE WITHIN 14 DAYS
- Personal Financial Management Course Certificate must be filed with the court within 60 days after the first date set for the meeting of creditors under § 341 of the code in order to receive a discharge Individual ONLY.
YOU MAY ALSO NEED TO FILE:If you paid a petition preparer or you are represented by an attorney
Can I Keep My House If I File For Bankruptcy In Pennsylvania
Your house is usually one of the most important places for you. You may have fought long and hard to get it, and you may not want to give up the everlasting memories you forged there. However, all of these great things may be in jeopardy when your creditors try to take it away from you. Unfortunately, you could lose your home to your creditors if you build up excess debt. However, there are ways to protect your home from your creditors during bankruptcy proceedings. Young Marr & AssociatesPennsylvania bankruptcy lawyers invite you to keep reading as we discuss whether you can keep your house if you file for bankruptcy in Pennsylvania.
Recently Moved To Pa Your Previous States Laws May Apply
A recent move can affect which states bankruptcy laws apply to your case. If youve just moved to PA, the laws of your previous state may apply to your bankruptcy even though it has been filed in PA with the help of a PA lawyer. The rule is stated below:
If the debtors domicile has changed in the last two years, the determining factor for exemption law purposes will be where the debtor resided for the 180-day period preceding the two year period. In other words, we look back two years plus 180 days. Wherever the debtor spent the majority of this 180-day period will be his or her exemption state.
If youre confused about which laws will apply to your case, discuss the matter with your attorney.
Contact A Bankruptcy Lawyer For Answers To Your Questions
Whether you are just beginning to think of bankruptcy or you are confident it is the right move for you, we recommend talking with an experienced bankruptcy lawyer about your situation. You should be fully aware of your rights, options, and responsibilities before diving in. Our Perry County attorney at Czekaj Law, LLC will take care of the legal and administrative tasks for you. We will ensure you properly file for the right type of bankruptcy for your situation. We will represent your interests against creditors and with the bankruptcy trustee. We will guide you through this process so that months or a few years from now, you have greater financial freedom.
Contact us at , or use our online form to schedule an initial bankruptcy consultation.
Recommended Reading: How To Buy A New Car After Bankruptcy
Can I File Bankruptcy If Im Not Behind On My Bills
Many people are totally up to date on all their bills. The problem is that the balance never goes down because of the interest. By the end of the month, you often dont have enough money to pay for everything that you need. If you pay the minimum payment on the debt each month, it will take many many years to pay off the bill in full. That is the problem caused by interest compounding on your bill, even if you have never missed a payment.
If I Filed For Bankruptcy Before May I File Again
There are some exceptions, but the basic rules concerning when you may refile a bankruptcy case are as follows. Note that time runs from the date the case was filed, not the date of discharge.
Filing a Chapter 7 case after a Chapter 7 discharge. If you filed for Chapter 7 bankruptcy in the past and received a discharge, you may not file another Chapter 7 bankruptcy until eight years after your first case was filed.
Filing a Chapter 7 case after a Chapter 13 discharge. If you received a discharge in a Chapter 13 case, you cannot file a case under Chapter 7 until six years from the date the Chapter 13 was filed. There are exceptions if you paid your unsecured creditors in full, or you paid your unsecured creditors at least 70%, and your plan was in good faith and represented your âbest effortsâ to pay.
Filing a Chapter 13 after a Chapter 7 discharge. If you received a discharge in a Chapter 7 case, you cannot receive a discharge in a Chapter 13 case filed less than four years after the date that the Chapter 7 case was filed. You may still file under Chapter 13 during this four-year period, but you cannot receive a discharge of any debts remaining at the end of the case.
Quick Note: If you did not receive a discharge in the Chapter 7 or Chapter 13 case , you can file again at any time. There are some exceptions, related mainly to bankruptcy fraud or bad faith filings.
Also Check: Epiq Bankruptcy Solutions Llc Scam
Help With The Lengthy And Emotionally Demanding Bankruptcy Process
The bankruptcy process is lengthy and emotionally demanding. We, however, got you covered through our bankruptcy attorney, who can handle the delicate and challenging bankruptcy process issues on your behalf. Each process is unique based on the facts available. Attorney Michael Alan Siddons will assess each and attend to the client as necessary.
Can I Hide My Assets Before Filing Bankruptcy
Some people who have debt problems incorrectly believe that if they transfer a house or other asset into someone elses name that no one can go after the asset. Intentionally transferring valuable assets out of your name and not getting paid the fair market value can be considered a fraudulent transfer that can be undone by the Bankruptcy Court. In addition without having transferred the asset, you may have even been able to exempt the property in the Bankruptcy case from any creditors. It is very important to have the correct bankruptcy information if you are considering filing bankruptcy.
Also Check: How Many Bankruptcies Has Donald Trump Filed
Harrisburg Pennsylvania Trying To File Bankruptcy
In difficult economic times, it is not just private citizens and businesses that struggle. Some city governments need assistance reorganizing their financial situations. One way of doing that is to file Chapter 9 municipal bankruptcy, a chapter that few people know about. Chapter 9 allows cities to negotiate with creditors while the cities plan a way to manage their finances in the future. Bankruptcy can also be a powerful tool for individuals and businesses that need to reorganize financially, but it is not needed in all cases.
Harrisburg, Pennsylvania is one of the cities who have sought the protections of bankruptcy in 2011. Harrisburg City Council members narrowly approved filing Chapter 9 bankruptcy to deal with the citys $315 million debt. The city amassed the debt from overhauling its incinerator and ended up having to sell the incinerator as well as cut key services to try to deal with the debt.
However, a bankruptcy judge ruled that the city could not file for bankruptcy due to a change in the law over the summer of 2011. The city is appealing the decision, and in the meantime the state has appointed David Unkovic to act as receiver to try to help Harrisburg reorganize its finances.
Different Forms of Bankruptcy Protection
Alternatives to Bankruptcy
If you are struggling financially contact an experienced debt relief lawyer who can discuss your situation with you and advise you of your options.
We Can Help You File For Bankruptcy In Pa
While you may ask how to file for bankruptcy without a lawyer in Pennsylvania, we believe you will be glad you picked up the telephone to call us. As one client that we filed for said to us, You are the best thing that ever happened to me.She also said the worst mistake she made was waiting over six months to come to our office when she would have been put at ease had she come in much earlier.
Our office has helped over 10,000 individuals and families in the Philadelphia area get a fresh start by filing for bankruptcy and debt relief in PA. You can call The Law Offices of David M. Offen at 625-9600. We will guide you on how to get out of your debts in Pennsylvania and get you a fresh start!
Also Check: What Is Epiq Bankruptcy Solutions Llc
C Pennsylvania Debt Management
Debt settlement companies negotiate lower amounts. Debt management companies negotiate lower interest rates. This is the key distinction. Often these programs last 3 or 5 years. This option is often more expensive than debt settlement and some creditors such as personal loan lenders may not work with the debt management company. There may be debt management credit score implications as well.
Who may debt management in Pennsylvania best for? Debt management may be best for those that have all high-interest credit card debt, and a reduction from 22-30% interest rate to a 10% interest rate would continue to make the debt affordable.
What Is Chapter 13 Bankruptcy
Chapter 13 bankruptcy is a payment arrangement that allows you to pay back some, but not necessarily all, of your debt. Chapter 13 is often a good solution for people who do not qualify for Chapter 7 because their incomes are too high. However, Chapter 13 is not limited to high-income earners. If you are behind on payments to a secured creditor and wish to keep the property, Chapter 13 may allow you to do so. > > More
Recommended Reading: How Many Bankruptcies Trump
The Basics Of Bankruptcy Law
Bankruptcy proceedings are governed under federal law, Title 11 of the United States Code, and go through the federal court system. This ensures that the rules of bankruptcy are similar throughout the country. However, there are Pennsylvania laws, if they are elected, regarding the property you are allowed to keep during bankruptcy. Depending on your situation, you may rely on the Pennsylvania or federal property exemptions. Your Pennsylvania bankruptcy lawyer will discuss these options with you.
If you live in Central Pennsylvania, then your bankruptcy will be under the jurisdiction of the Middle District of Pennsylvania Bankruptcy Court. This court has two locations, one at the Max Rosenn U.S. Courthouse in Wilkes-Barre, PA and another at the Ronald Reagan Federal Building in Harrisburg, PA. If you live in Perry County, then your case will take place in Harrisburg.
If you have any questions regarding federal Bankruptcy law, or where your bankruptcy case would take place, do not hesitate to call a New Bloomfield attorney at our firm for more information. .
Help For Virginia Residents
Account Resolution Plans are providing a vital lifeline for Virginia residents who are struggling to keep up with minimum payments, those who have fallen behind, or those who are being forced to use credit cards or personal loans to take care of personal or business expenses.
ARPs are available across a wide range of income levels. No credit approval is required.
Recommended Reading: Can A Person File Bankruptcy Twice
S In A Pennsylvania Bankruptcy
We all know that seeing the forest helps us recognize the trees, so it’s probably a good time to consider the significant steps you’ll take during your bankruptcy journey. Think of this checklist as a roadmap of sorts, but you can also use it to track your progress. The good news? You’ve already made headway on the first two items!