TRUSTED PHILADELPHIA BANKRUPTCY LAWYERS

Stop Foreclosure. Stop Repossession. Stop Worrying.

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EXPERT LAWYERS

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Michael A. Cibik, Esq.

Michael A. Cibik has been certified as a consumer bankruptcy specialist by the American Board of Certification for 23 consecutive years. Mr. Cibik was in the first class of just 88 attorneys certified nationwide by the organization in 1992.

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Michael A. Cataldo, Esq.

When choosing a law firm, we think it’s safe to say everyone knows that experience matters. Luckily for those in the Philadelphia area, that’s not a problem. Michael A. Cataldo has personally handled over 10,000 bankruptcy cases.

TRUSTED PHILADELPHIA BANKRUPTCY ATTORNEYS

For 40 years, Philadelphia lawyers, Cibik & Cataldo, P.C., have provided superior, cost-efficient, and value-oriented bankruptcy legal services in a compassionate and respectful manner to thousands of clients in Philadelphia PA and surrounding areas. Attorneys Michael A. Cibik, Esq. and Michael A. Cataldo, Esq. have filed thousands of bankruptcy cases for the citizens of the Greater Philadelphia area, helping those from all walks of life receive the debt relief they need.

Cibik & Cataldo Can Help with Bankruptcy in Philadelphia PA

Bankruptcy Attorneys Michael A. Cibik, Esq. and Michael A. Cataldo, Esq. are both certified by the America Board of Certification (ABC) in bankruptcy law and have filed well in excess of 18,000 personal bankruptcies. ABC Certification provides an objective standard that assists the public in making informed decisions when choosing counsel on financial and bankruptcy matters. Additionally, ABC certification encourages bankruptcy attorneys to strive toward excellence and recognizes those attorneys who have met ABC’s rigorous legal standards.

Bankruptcy lawyers Cibik & Cataldo have been serving the Philadelphia area for over 40 years, so they are experts in their field. Whether you have a question about the bankruptcy filing process, you want to hear about your debt relief options, you’re working to stop foreclosure of your home, or any other issue related to bankruptcy and debt relief, Cibik and Cataldo can help. They work tirelessly for clients to help them turn around their financial situations and stay on top of finances post-bankruptcy. 

At the offices of Cibik and Cataldo, compassion comes first. We understand the stress of those facing bankruptcy and extreme debt, so we work to make our clients feel comfortable and judgement-free. Our expert bankruptcy attorneys will walk you through all of your debt relief options with care and compassion so that you can make the best decision for you and your family. Come in for a free, no-pressure consultation to discuss your options with our attorneys. We’ll present you with your options and as much information as possible so that you can go home, consider your options, and get back to us whenever you are ready.

Filing Bankruptcy in Philadelphia

Filing bankruptcy in Philadelphia PA can save you money and a lot of stress in the long run if you make the right decision. In Philadelphia, typically you have to decide whether to file for Chapter 7, Chapter 11 or Chapter 13 bankruptcy. However, a bankruptcy filing does not just involve signing papers.  There are steps, processes, and filing fees you have to adhere to before filing your claim and declaring bankruptcy. A trusted bankruptcy attorney can help you along the way to ensure the best possible results during the bankruptcy process.

There are many misconceptions about bankruptcy, and many people do not understand the process even when they are in the midst of a bankruptcy filing. Let us clear up any questions you may have around bankruptcy and other debt-relief services so that you can navigate through your financial troubles with accurate information and assistance. 

Some people try to file for bankruptcy on their own, but this process is difficult without the help of an attorney. Navigating different chapters of bankruptcy, debt consolidation, and other bankruptcy FAQs on your own can lead to wasted time and costly mistakes. Don’t file for bankruptcy until you’re sure if it’s the right choice, or without the proper knowledge of how the process works. Contact us for help. 

At Cibik & Cataldo, P.C. we strive to make the bankruptcy process as simple as possible. Our attorneys have been working for the Philadelphia area for over 40 years, so they know all state and local laws related to bankruptcy. Let our experienced lawyers help you through the difficult process of filing for bankruptcy.

Top Rated Philadelphia Bankruptcy Attorney

The bankruptcy law firm of Cibik & Cataldo, P.C., is fully-staffed, located in Center City Philadelphia PA, and concentrates solely on consumer and business bankruptcy matters. The Firm does not represent banks, finance companies or insurance companies: only individuals, small business owners, and their claims.

Our bankruptcy law offices are friendly and accessible for all. We strive to create a safe, honest, and comfortable environment for our clients to seek help with their financial issues. Our office is located in the heart of Center City, Philadelphia, close to City Hall and easily accessible via public transportation. Visiting a bankruptcy attorney can be stressful, but we work to ensure you leave our offices feeling better and more in control of your future. Come in for a free consultation to discuss your debts. Our consultations come with no pressure to file for bankruptcy – simply come in to discuss your unique circumstances, and one of our experienced attorneys will provide information and our recommendations. 

Filing for bankruptcy isn’t always the best option, depending on your debt, income, assets, and other factors. The attorneys at Cibik & Cataldo won’t push bankruptcy when you come in unless it is your best option. Come in to discuss your debt relief options so that you can work towards a better financial future.

Foreclosure Defense

There are many reasons why homeowners are facing a foreclosure, such as an illness, divorce or job loss. At Cibik & Cataldo, we can provide the help your need in the form of a bankruptcy to stop the foreclosure process. Whether you are filing for a Chapter 7 or a Chapter 13, we can save your home. The thought of losing the home you have worked so hard for is stressful.

If you are facing foreclosure, contact us today. Losing a home can be devastating, but there are ways to prevent foreclosure and seek debt relief without losing your home. There are options to stop mortgage foreclosures and even prevent the upcoming Sheriff Sale of your home. 

The attorneys at Cibik and Cataldo can help prevent the foreclosure of your home through various channels, depending on your mortgage debt and other financial details. It may be possible to work out a repayment plan to keep your home. In other cases, filing for bankruptcy can halt a foreclosure. Filing for chapter 7 bankruptcy can give you more time to catch up on payments, or chapter 13 bankruptcy allows you up to five years to get fully caught up on your mortgage. 

Discuss these options and more with the bankruptcy lawyers at Cibik & Cataldo, P.C.

Contact our Philadelphia Bankruptcy Specialists Today!

If you are looking for the best bankruptcy lawyers in the Philadelphia PA area, Cibik & Cataldo are the right choice for your case. Financial freedom is just one call away. Time is of the essence with cases involving foreclosure and other debts, so don’t hesitate.

Contact our Philadelphia PA law offices today for a free consultation.

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When filing for bankruptcy, there are different types of filing. If you are an individual, we will be talking to you mostly about Chapter 7 and Chapter 13. If you are a corporation going out of existence, we would be discussing a Chapter 7. Corporations that wish to maintain the business and not close may file Chapter 11 for debt relief. 

Every situation and case is different. A Chapter 7 or Chapter 13 for you could mean something very different from stories you have heard from relatives and friends. At Cibik & Cataldo, we avoid telephone appointments, as the analysis needed is detailed and involved and must be looked at in the entire scheme of things. The decision about what will happen depends on your marital status, income and expenses, household size, assets and equity in assets, how the assets are held and types of debt and when they were incurred.

Do not listen to those creditors who tell you the laws changed, and you cannot file. Do not listen to creditors who tell you that you will never get credit again or that you will lose everything if you file bankruptcy. These are collection practices and are usually false. Do not listen to people you know about what will happen as their situation is different from your situation. Do not think that you make too much or that you have assets you will lose. Every bankruptcy is different, so come talk to our professional, expert bankruptcy lawyers to get the full picture of how bankruptcy might work for you. 

Bankruptcy protections and exemptions are powerful, and in Pennsylvania, married couples have the additional option of electing state exemptions protecting marital assets when the debt is just the debt of one of the spouses. 

There are many misconceptions about bankruptcy – it is not the end of your financial life, but rather a new beginning. It is possible to file for bankruptcy and come out stronger. Ignoring your debts and collectors won’t work forever, so visit us at Cibik & Cataldo to discuss your options. We will create a strategy that works for your unique situation, and we offer consultations with no pressure to file for bankruptcy if it is not the best choice for you.

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HOW TO FILE FOR BANKRUPTCY IN PHILADELPHIA

Filing for bankruptcy is a tedious process, so we’ll walk you through the basics. We offer a free consultation for anyone considering bankruptcy where we will discuss your finances, debts, and goals. For some, bankruptcy may not be the best option. For others, you may need assistance learning which type of bankruptcy between Chapter 7, Chapter 11 and Chapter 13 makes the most sense for your financial situation. 

To file for bankruptcy, first you need to compile all of your financial information. This includes a list of all creditors and what debts you owe to each, your income information, and a list of any assets that you own. If you work with the bankruptcy attorneys at Cibik & Cataldo, we will also run a credit report and help you pull together a list of all creditors, debts, assets, and outstanding liabilities. 

U.S. Bankruptcy Code requires that you complete credit counseling to file for bankruptcy in Philadelphia, PA. Credit counseling is a common requirement, and it can typically be done over the phone or online in about an hour. Your counselor will help review your financial situation and offer solutions, likely leading to a recommendation of bankruptcy. We will assist you with this.

Next, determine if you need to file for Chapter 7, Chapter 11 or Chapter 13 bankruptcy. If you are unsure what these terms mean, visit our dedicated pages to each type of bankruptcy on this website, or come in for a consultation. The bankruptcy experts at Cibik & Cataldo can help guide you through the different types of bankruptcy to learn which is the best option for your unique situation. 

Once you have taken these steps, it is time to complete a bankruptcy petition. This involves a lot of paperwork, which is why it is better to work with an experienced bankruptcy attorney to guide you through the process. There are over 20 forms to fill out, totaling over 60 pages of information needed to complete your bankruptcy petition. 

There are various “schedules” or series of documents that you must complete. The main schedules include the following and must list certain pieces of information: 

  • Schedule A/B: Your assets, including real estate
  • Schedule C: Your exemptions
  • Schedule D: Your secured debts 
  • Schedule E: Your priority debts
  • Schedule F: Your general, unsecured debts
  • Schedule G: Your pending contracts (for example, existing leases) 
  • Schedule H: Your co-debtors or co-signers on debts 
  • Schedule I: Your monthly income
  • Schedule J: Your monthly expenses 

Complete these documents to the best of your knowledge, or with the help of our bankruptcy lawyers. 

You must also complete a Statement of Financial Affairs to answer any remaining questions about your finances, assets, liabilities, and any business information. Finally, complete a summary of your assets and liabilities for the full picture of your assets and debts. You may need to also submit a repayment plan or Statement of Intention depending on your debts and the type of bankruptcy you are filing under. 

If you file under chapter 13 bankruptcy, you will need to create a repayment plan for your debts. The process continues, as you must file a Statement of Current Monthly Income and Expenses to show what income you have to repay debts each month. 

After filing, a trustee must be assigned to your case to manage your repayments and debts. This trustee is court-appointed, or you can choose a trusted friend or relative. They will review your case and help manage repayments. 

You will also undergo a meeting of creditors to discuss your ability and timeline for repayment. After this step under Chapter 7, there are no repayments and your trustee will recommend a discharge of debts, unless more information is needed. Under Chapter 13, your trustee will confirm your repayment plan and submit it, pending court approval. In a Chapter 11 your trustee will review your business financial statements to decide whether they will recommend confirmation of your Chapter 11 bankruptcy plan of reorganization. 

Cibik & Cataldo: Philadelphia Bankruptcy Lawyers