Michael A. Cibik, Esq. writes a regular column titled “Understanding Bankruptcy” that appears in the Philly Record. This is that column. QUESTION:  Another Way How To Miss Out On Discharging Credit Card Debt? There are two basic ways to blow your chance to discharge the balance on your credit card in bankruptcy: Lie on the credit application to…

Saving and spending money is not easy, especially when everything seems to be so expensive. Over time, you may have found yourself in a troubling financial situation for multiple reasons. We’ve created 5 easy steps you should take before filing for bankruptcy in Philadelphia. Contact a bankruptcy attorney today   Suppose you owe money for…

Michael A. Cibik, Esq. writes a regular column titled “Understanding Bankruptcy” that appears in the Philly Record. This is that column. QUESTION: After filing for bankruptcy, should I be concerned about debt collectors who call and threaten arrest? Folks frequently come in to talk about bankruptcy and are very concerned that an arrest warrant may be issued as…

Michael A. Cibik, Esq. writes a regular column titled “Understanding Bankruptcy” that appears in the Philly Record. This is that column. The term debt relief agency appears in a legal context for the first time in bankruptcy law in the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 [The Act]. The first chapter of this new bankruptcy…

 Check out the new video created for Philadelphia’s top Bankruptcy Lawyers, Cibik & Cataldo!

QUESTION:   How Do Bankruptcy Exemptions Make the System Work? When a bankruptcy is filed, the debtor can keep anything that is “exempt.” That always includes household goods and personal effects, and, most of the time, provides a homestead exemption that protects the debtor’s home. But why? Actually, bankruptcy exemptions are absolutely necessary to a fair…