When facing a debt(s) that has spiraled out of control, filing for bankruptcy may be the only option. Bankruptcy has become a shameful word. At Cibik & Cataldo, we feel it shouldn’t be; it’s just a financial solution. We are not saying it should be abused, but it makes life a lot easier, and you can start over financially. Chapter 13 means that you are keeping most of your assets, whereas a Chapter 7 bankruptcy means you are liquidating practically all of them. It is a positive step towards fixing your finances.
When faced with filing, you shouldn’t get just any lawyer; you should get a bankruptcy attorney. Bankruptcy lawyers solely deal with these situations. They aren’t spreading themselves thin with other practice areas, such as wills and DUIs. Filing for bankruptcy is a last resort, and careful consideration must be applied before filing as well as choosing the right type of bankruptcy.
Advantages of Chapter 13 Bankruptcy
During this process, it’s best to look at the benefits of a Chapter 13. When you choose a Chapter 13, you are saving your home from foreclosure. You want to keep it and other assets, such as a car or non-exempt property. To file, you must have a regular income and not have more than $250,000 in unsecured and more than $750,000 in secured debt. The advantages are:
Handling Bankruptcy Cases in Philadelphia
Our team of bankruptcy attorneys here at Cibik and Cataldo know Chapter 13 bankruptcy inside and out. They know what you can and cannot keep in this type of bankruptcy and how to set up an affordable payment plan. We know this is a stressful time for you and your family. Let us show you how easy it is to file. Call today at (215) 735-1060 or fill out a quick contact form to schedule a free consultation to meet with you.
We are a debt relief agency that helps people
seek bankruptcy protection under federal law