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Philadelphia Bankruptcy Law Firm

The Types Of Bankruptcy Available To Clients In Philadelphia

Bankruptcy, Lawyers, Philadelphia, PA

While there are extremely rare occurrences of consumers filing for Chapter 11, the overwhelming majority of all consumer bankruptcy cases fall into the category of either Chapter 7 or Chapter 13.

As a debtor, one of your most important decisions will be choosing effectively between the different kinds of bankruptcy. For most debtors in Pennsylvania, there are two bankruptcy options: Chapter 7 bankruptcy , and Chapter 13 bankruptcy . So how are they different, and which one is appropriate for you?

Top Benefits Of A Chapter 13 Bankruptcy In Philadelphia

1. Stopping Mortgage Foreclosure or Vehicle Repossession. Chapter 13 Bankruptcy is commonly used to stop pending mortgage foreclosure, tax foreclosure or looming vehicle repossession. Because the Chapter 13 Bankruptcy involves a three to five year repayment plan, the bankruptcy filer can keep their home or vehicle and continue the regular monthly payments, plus pay towards the delinquency in a trustee payment.

2. Reorganization of Debt. If unsecured debt, such as credit cards, personal loans, collections and medical bills, are part of the Chapter 13 Bankruptcy matter, the filer, unlike debt consolidation, will only make payments towards such debts based on what they can afford, rather than based on what they are due and owing. In a Chapter 13 plan, unsecured debts are generally reduced, thereby creating more affordability for ones most important assets, such as their home, car or even rental payments. It is also most common in Chapter 13 Bankruptcy to lower car payments by way of a vehicle cram-down or paying the vehicle through the plan over a new three-to-five-year term, which in essence refinances the vehicle. You can read more about reorganization of debt here.

You can read more about the benefits of filing a chapter 13 bankruptcy in Philadelphia here:

Philadelphia Bankruptcy Lawyer

How To File For Bankruptcy Using A Philadelphia Bankruptcy Attorney

There are many rules, regulations, and procedures that you need to be aware of if you decide to file bankruptcy in Philadelphia. For example, federal bankruptcy laws require you to complete pre-bankruptcy credit counseling before you may file. Credit counseling can only be received through a government-approved service provider.

Once you have completed pre-bankruptcy requirements and ensured that you meet the appropriate residency requirements, you can begin the process of filing a bankruptcy petition. However, it may make better financial sense to temporarily delay the filing, depending on your circumstances. Our Philadelphia bankruptcy attorneys can help you decide when is the best time to file bankruptcy based on your situation. Be advised that there is generally a filing fee to submit your bankruptcy paperwork. As of 2018, the bankruptcy filing fees are as follows:

  • Chapter 7 Filing Fee $338
  • Chapter 13 Filing Fee $313

You will need to submit a range of forms when you file bankruptcy in Pennsylvania. The core of each case is the bankruptcy petition. On your petition for bankruptcy, which an attorney can help you complete and file, you will provide your contact information and answer questions about why you are filing for bankruptcy, your history of bankruptcy , your debts and assets, and other essential information. Along with the petition for bankruptcy, you will also need to file some supplementary paperwork, including forms that describe the following in detail:

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Top Bankruptcy Lawyers Serving Philadelphia

You are looking for a bankruptcy attorney in Philadelphia, Pennsylvania and probably want to find the best attorney for the most reasonable price.

When filing bankruptcy in Philadelphia, there here are 5 attributes that we look for in bankruptcy attorneys, which are 1) Rate 2) Reviews 3) Relevance 4) Reliability, and 5) Referral. We also care about bankruptcy attorneys who offer free consultations and payment plans.

See the table below for bankruptcy lawyers servicing Philadelphia. If you’d like to understand the all-in bankruptcy cost in Philadelphia, we built a free qualification and cost calculator below to estimate fees. Update the zip code if youd like to refresh the list. Please note that the phone information below will first route to Ascend, and we will check our system for available attorneys who are available for a free phone consultation before transferring you to the attorney. If you’d like to speak directly to a specific attorney below, you should be able to find that information directly on the attorney’s website.

Fill out your information for the local attorney. Please note that the attorney selected may not be the one which contacts you.

This is why we built the zip code updater, so you can update the zip code to where youd like to hire a bankruptcy attorney, which potentially might not be in Philadelphia.

Center City Chapter 7

Philadelphia bankruptcy lawyer

A Chapter 7 Bankruptcy is an immediate discharge or wiping out of unsecured debts. Debts that can be included in a Chapter 7 Bankruptcy are credit card debts, medical bills, personal unsecured loans, timeshares, certain tax debts, and more. Call our bankruptcy attorneys in Center City and receive free consultations and reviews of your financial situation to determine a strategy thats right for you.

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Helping People In Pennsylvania & New Jersey Get Out Of Debt

Whether you acquired debt as a business owner or individual consumer, youre probably looking at your current situation and wondering how youll ever pay off what you owe. Not only is it hard to make your regular payments, but now you have to deal with late fees, interest, and other financial mechanisms created to keep you in debt. If youre thinking itll be like this forever, it doesnt have to be Weisberg Law can help.

What Are The Benefits Of Filing Bankruptcy

Many people are nervous about bankruptcy due to negative myths and misconceptions. In reality, filing can be the best way to restore your financial health. Debt will not disappear by itself but filing for bankruptcy can set you on the right path again. If your case is managed with skill and care, bankruptcy can reduce or eliminate your debts, prevent your creditors from bothering you, and give you the financial tools to start the process of repairing bad credit.

While bankruptcy is not appropriate for everyone, there are many Philadelphians who could benefit greatly from filing for bankruptcy. Below, youll find just a few reasons for hiring a Philadelphia Bankruptcy Lawyer. If you are struggling with overwhelming debt, consider the following benefits of bankruptcy for Pennsylvania residents:

Also Check: Will Filing Bankruptcy Remove Student Loans

How Do Free Bankruptcy Lawyer Consultations Work In Philadelphia

Free bankruptcy consultations are designed to help you know whether bankruptcy is the best option for you. Because you are in financial hardship, many bankruptcy attorneys offer this service to alleviate the burden of another financial expense.

You can ask questions related to bankruptcy, and you can also get an estimate of what the bankruptcy lawyer fee will be in Philadelphia. You can also get multiple opinions via free bankruptcy consultations if you didnt jive with the attorney or you would like to discuss both types and qualification with another attorney.

Reorganize Business Debt Through Chapter 11

Commercial Litigation, Corporate Restructuring, Bankruptcy, Attorney, Philadelphia, PA

Business owners who own a significant amount of unpayable debt may be able to seek relief through Chapter 11 bankruptcy. This allows them to reorganize their finances while continuing company operations and maintaining control over their businesses. Bargaining agreements can be rewritten during this process and financial obligations can be restructured in a way the company can better manage.

Unlike Chapter 7, Chapter 11 doesnt free debtors of their obligations it merely adjusts the terms of their loan agreements to make paying their debts more manageable. This doesnt mean a company wont also explore its options in Chapter 7 or undergo some form of liquidation. Doing so may help them achieve more favorable results during restructuring by securing cash to pay creditors or relieving financial obligations owed to other creditors, thus lessening a companys overall financial burden.

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Why Do I Need A Local Lawyer

When you select an attorney to handle your legal matter, location is about more than convenience or the ease of a shorter driving time to an office location. A lawyer who is located near you and handles cases involving bankruptcy in Philadelphia will also be able to provide information that you can trust is correct because it comes from someone who has dealt with these types of issues in your location before.

The bankruptcy lawyers listed in this directory can provide you with information about important topics and questions such as:

If The Law Offices of David M. Offen cannot help you, please find our full list of bankruptcy Lawyers in Philadelphia, PA.

Free Bankruptcy Filing With Upsolve

Sometimes, no matter how reasonable an attorneyâs fees are, it just isnât practical for an individual already struggling to make ends meet to try to absorb yet another costly bill. Yes, the benefits of filing for bankruptcy can be significant and paying for an attorneyâs assistance is often well-worth the investment of experienced legal guidance. However, even relatively modest attorneysâ fees can be too much for a familyâs budget to absorb when it has already been stretched to its limit. Thankfully, low-income filers who qualify for Chapter 7 bankruptcy are often able to file for bankruptcy relief under this Chapter of the Bankruptcy Code without an attorneyâs assistance. Applying for Chapter 7 bankruptcy relief is a very straightforward process unless your finances are unusually complex or youâre dealing with complicating factors, like an active garnishment or a repossession you want to contest. If you donât earn much income, you may qualify both to file for Chapter 7 bankruptcy and to obtain free assistance from Upsolve with your filing process. Upsolve is a non-profit organization dedicated to helping low-income filers successfully prepare Chapter 7 bankruptcy cases without having to invest in an attorneyâs services, if that investment isnât necessary for a filerâs peace of mind. If you believe you may be eligible to file for Chapter 7 bankruptcy, obtaining help from Upsolve is an option worth considering.

Read Also: How To Check Bankruptcy Discharge Status In Singapore

Bucks County Mortgage Modification

Oftentimes a hardship such as unemployment, reduction in income, divorce or separation, or unanticipated expenses lead to a late or unpaid mortgage payments. When such a hardship occurs a mortgage modification may be a viable option, especially if other debts are substantially current or non-existent.

Avallone Law Associates Is Designated As A Debt Relief Agency By The United States Congress

Philadelphia bankruptcy lawyer

Chapter 7 and Chapter 13 are federal bankruptcy laws enacted by Congress to give single and married individuals in financial difficulty a fresh start or relief from creditor harassment. Chapter 7 allows individuals to discharge most debts, including credit card debt, judgments, unsecured loans and much more. Filing under Chapter 7 normally allows you to keep your assets and then start over. Chapter 13 allows individuals to work out reasonable repayment terms for their debts.

Contact the Philadelphia bankruptcy attorneys at Avallone Law Associates about your bankruptcy needs or problems with creditors. You will receive a prompt and personal response from one of our attorneys. Call for a free initial phone consultation. We are able to meet the needs of Spanish-speaking and Russian-speaking communities.

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Henry Jefferson Chapter 7 And Chapter 13 Bankruptcy Attorney In Philadelphia

Henry was born & raised in Philadelphia. He received his J.D. from Duquesne University School of Law in 1995 and is licensed in Pennsylvania. Prior to starting his bankruptcy practice, Henry was a judicial clerk with the Honorable Brenda J. Hollar in the Territorial Court of U.S. Virgin Islands. Henry also successfully owned & operated several small businesses.

Before starting his bankruptcy firm, Henry worked for five years as a consumer advocate with Community Legal Services of Philadelphia a renowned, prestigious, and one of the oldest and most effective providers of non-profit legal services in the country. While working with Community Legal Services of Philadelphia, Henry worked with consumers to save their homes from Sherriffs Sale by obtaining Loan Modifications and filing Chapter 13 bankruptcy. He frequently negotiated with lenders to obtain loan modifications under the Home Affordable Mortgage Program .

Henry is a member of the Philadelphia Bar Association. He also served as a volunteer with Philadelphia VIP, and the Low-Income Tax Clinic at the Delaware Community Reinvestment Action Council. Henry is admitted to practice before all Pennsylvania State Courts, the United States District and Bankruptcy Courts for the Eastern District of Pennsylvania. He is also admitted to practice before the United States Tax Court in Washington, D.C.

You Can Save Yourself From Foreclosure

There are tools within bankruptcy that can help you keep your home if it has been placed in foreclosure or foreclosure is looming. The same is true for some other major assets. By filing for bankruptcy, you can stop a foreclosure proceeding or a scheduled sheriff sale. While our Philadelphia bankruptcy attorney would not advise you to wait until the last minute, you could actually stop a sheriff sale on the morning of the auction. Chapter 13 allows you to pay your mortgage default over three to five years. In many cases, you could discharge unsecured debt so that your mortgage and trustee payments are easier to make.

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Who Do We Represent As Philadelphia Bankruptcy Attorneys

Our office, with its many years of experience, provides personal service to each individual and family. Some people we helped were:

  • Federal, State, and City Government workers
  • Computer programmers
  • Federal, State and City Court employees
  • Self-employed persons
  • Persons on social security and disability
  • and many other people just like you

Bankruptcy Can Help Improve Your Credit Over Time

Cohen Law Firm PA Bankruptcy Lawyers in South Florida

People often come in wanting to file bankruptcy, but they worry about what bankruptcy will do to their credit. In many cases, bankruptcy may be the best method to improve your financial situation. In other cases, people come in with a credit report that is far from perfect. As long as you have outstanding unpaid bills or can only pay the bare minimum, your credit can suffer. In many cases, you can improve your credit situation by filing bankruptcy and begin your road to financial recovery.

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Eliminate Most Debt With Chapter 7 Bankruptcy

When consumer debt from credit card bills to medical costs, personal loans, and even a mortgage become too much to bear, many people choose to file for Chapter 7 liquidation for debt relief. This is the most common type of bankruptcy filed in the United States, and it may even be the most straightforward.

Secured Debt VS Unsecured Debt

When you file for Chapter 7 bankruptcy you can free yourself from certain unsecured and secured debts. An unsecured debt is something that isnt tied to collateral, like your credit card or medical bills. These debts can be discharged through Chapter 7, but your bankruptcy trustee will probably seize and sell non-exempt property and distribute the proceeds to satisfy these creditors.

What Happens to Secured Debt in Chapter 7

Your secured debt is tied to collateral, and the most common types of secured debt people own is a mortgage or auto loan. While it is possible for a bankruptcy attorney in Philadelphia to help you keep your car and home when you file Chapter 7, typically the items tied to secured debt will simply be reclaimed by the creditor to satisfy the debt.

or contact us online to schedule a free consultation with one of our Philadelphia bankruptcy attorneys today!

Staff Profiles

Philadelphia Bankruptcy Chapter 7 Lawyer

A bankruptcy filing under Chapter 7 is called liquidation. It is the most common type of bankruptcy proceeding. Liquidation involves the appointment of a trustee who collects the non-exempt property of the debtor, sells it and distributes the proceeds to the creditors. Not dischargeable in bankruptcy are alimony and child support, taxes, and fraudulent transactions. Filing a bankruptcy petition automatically suspends all existing legal actions and is often used to forestall foreclosure or imposition of judgment. After 45 or more days a creditor with a debt secured by real or personal property can petition the court to have the automatic stay of legal rights removed and a foreclosure to proceed. When the court formally declares a party as a bankrupt, a party cannot file for bankruptcy again for nine years.

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Reorganize Personal Debt Through Chapter 13

Chapter 13 bankruptcy works for individuals and their consumer debt in much the same way that Chapter 11 works for businesses. When you file for Chapter 13, you will submit a debt reorganization plane that can safeguard the things you own and your property from foreclosure while asking for forgiveness of other debts.

Chapter 13 works in most cases by consolidating your debt under a new loan that will then distribute your payments to your prior creditors. Although this is an even more serious type of debt relief than Chapter 7, a facet most might prefer is that no direct contact with your current creditors is necessary when you file Chapter 13.

Do Most Bankruptcy Attorneys Offer Payment Plans In Philadelphia

Sadek and Cooper Law Offices

Yes, many bankruptcy lawyers take a payment plan, and I would estimate that would be no different in Philadelphia. A Chapter 13 bankruptcy is already a payment plan bankruptcy, so many Chapter 13 bankruptcy lawyers will take a payment upfront and then include the rest in the plan.

In a Chapter 7 bankruptcy, many lawyers will take payment plans, but the total attorney fee often has to be paid before filing. If an bankruptcy lawyer in Philadelphia will only take all of the money upfront for a Chapter 7 bankruptcy and not provide payment plans, you may be able to find one that does take payment plans.

Just to confirm, you may always want to check which type of bankruptcy you are filing. Some bankruptcy lawyers may offer payments plans or $0 Chapter 13 options, but those may be much more expensive in the long run than doing a payment plan upfront on a Chapter 7 bankruptcy.

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