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Bankruptcy Blog


Pennsylvania Medical Bankruptcy: When to File Due to Medical Debt

Aug 14, 2018 By: Mike Cibik

  Pennsylvania Medical Bankruptcy: When to File Due to Medical Debt   No one plans to get sick or get into a debilitating accident. We pay exorbitant amounts for health insurance and health care costs for such events. Depending on the health plan you have, it might only cover a fraction of the medical costs…


the front of a chapter 13 bankruptcy filing form

Top Facts You Need to Know About Chapter 13 Bankruptcy

Aug 07, 2018 By: Mike Cibik

  Liquidation is one of the biggest fears of individuals who are facing overwhelming debts. Chapter 7 bankruptcy is achieved through total liquidation of an individual’s assets. Instead of facing liquidation, many debtors decide to set up a repayment plan that reduces their payments into something that fits their debt to income ratio. This is…


worried couple sitting on a couch and looking at papers

Frequent Reasons to File and How a Bankruptcy Attorney Can Help

Aug 03, 2018 By: Mike Cibik

  The United States Bankruptcy Court for the Eastern District of Pennsylvania has compiled statistics from 2016 and found that just less than 10,000 people filed for bankruptcy. These are just the filings for a single calendar year. The most common people who file for bankruptcy include individuals and businesses who file under Chapter 7…



What Happened Each Time Donald Trump Declared Bankruptcy

Jul 25, 2018 By: Mike Cibik

  How Trump’s Bankruptcies Differ from Others   Any business person will tell you that declaring bankruptcy is a common practice. Now when we say bankruptcy, we are talking about a business bankruptcy and not a personal bankruptcy. This is how a business is able to stay afloat unless the owner decides to sell it….


birds eye view of a toys r us from the 1990s

What Factors Led Toys “R” Us To File For Bankruptcy?

Jul 17, 2018 By: Mike Cibik

  In 1948, Charles Lazarus founded Toys “R” Us, what would eventually become a world leader in the sale of all things play. With over 800 stores in the United State at the beginning of 2018, consumers were completely unaware of the trouble that lurked just around the corner for the large toy chain. Most…


ticking clock with the word bankruptcy on it

Can a Reaffirmation Agreement Help When You File for Bankruptcy?

Jul 09, 2018 By: Mike Cibik

  What is a Reaffirmation Agreement and How Does it Help a Chapter 7 Bankruptcy? Chapter 7 bankruptcy controls the process of asset liquidation. The first question that is typically asked under this type of filing is the order in which debts must be paid and if the current debts are secured or unsecured. A…


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