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The Three Main Types Of Consumer Debt

Mar 31, 2020 By: Michael A. Cibik

Americans are drowning in debt. In November 2019, American consumer debt climbed to $4.17 trillion. That’s trillion with a T–twelve zeros. Chances are pretty good that you’re one of those Americans, with credit cards, a mortgage, and a car payment or two. And that’s okay–in lots of ways, debt is good for our economy. The…

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https://philadelphiabankruptcylawyers.com/what-assets-can-you-keep-in-chapter-7-bankruptcy/

What Assets Can You Keep in Chapter 7 Bankruptcy?

Mar 20, 2020 By: Michael A. Cibik

Financial pressure can sometimes take a toll on daily life. When you can’t get a handle on your finances, starting over may be necessary to reach the road of financial recovery. For some people, filing bankruptcy is an ideal solution. Bankruptcy is a process in which individuals who cannot repay debts to their creditors seek…

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The 10 Most Common Reasons People File for Bankruptcy

Feb 13, 2020 By: Michael A. Cibik

Bankruptcy is nothing to be ashamed of. Many people find themselves on the brink of bankruptcy through no fault of their own. Bankruptcy can affect any person regardless of age, race, education level, and background. You are not alone – many people have been in your shoes and gotten a fresh start. Here are the…

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understanding the repossession laws in PA

Understanding the Repossession Laws in Pennsylvania

Jan 20, 2020 By: Michael A. Cibik

Here at Cibik & Cataldo, we want our clients and those who need answers to their questions, to understand, in layman’s terms, what is going on in their lives. That’s why we work diligently to make what can be quite confusing as understandable as possible. The laws concerning repossession are exceptionally complicated in some cases….

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reaffirming your mortgage

Should You Reaffirm Your Mortgage When Filing for Bankruptcy?

Jan 02, 2020 By: Michael A. Cibik

If you choose to file for bankruptcy under Chapter 7 of the U.S. Bankruptcy Code, one option you may be urged to consider is signing a “reaffirmation” of your obligation to make mortgage payments. You should not make that decision without the advice of your attorney. Each year, about three-quarters of a million Americans, file…

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Can filing for bankruptcy take my social security away?

Nov 22, 2019 By: Michael A. Cibik

A major concern for filing bankruptcy is whether your social security funds can be taken from you.  The good news is that social security benefits are exempt and therefore protected in bankruptcy.   This means you can continue to receive ongoing payments as well as payments you received prior to filing for bankruptcy if your…

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