How to File for Bankruptcy in Philadelphia: A Step-by-Step Guide
Filing for bankruptcy in Philadelphia can feel overwhelming, but with the right legal guidance, the process is straightforward and provides a clear path to financial relief. This step-by-step guide explains everything you need to know about filing for bankruptcy in Pennsylvania, from determining your eligibility to receiving your discharge. Step 1: Determine If Bankruptcy Is […]
Chapter 7 vs Chapter 13 Bankruptcy: Which Is Right for You?
If you are considering bankruptcy in Philadelphia, one of the most important decisions you will face is choosing between Chapter 7 and Chapter 13 bankruptcy. Both chapters provide legitimate paths to debt relief under federal bankruptcy law, but they work in fundamentally different ways. Understanding the differences between Chapter 7 and Chapter 13 bankruptcy will […]
Why is a Chapter 13 Bankruptcy like a Marriage?
The chapter 13 process in bankruptcy is surprisingly similar to a marriage. First a debtor seeks out a bankruptcy attorney. Like going to a social event looking for someone to spend the evening with, a debtor will ask around about who is a good attorney, who he can communicate with easily, and who has […]
What is the Third Costly Emotion That Keeps You In Debt and from Filing Bankruptcy?
Pride. I’m not the kind of person that files bankruptcy, I often hear. Well, what kind of person is it that files bankruptcy? It’s people who’ve gotten sick, even with health insurance; people who’ve divorced; people who’ve lost jobs; and people who got suckered into believing that the marvels of a consumer society were […]
Understanding Bankruptcy: A Fresh Start
Understanding Bankruptcy: A Fresh Start According to Attorney Michael Cibik, Bankruptcy is a legal way to get relief when debt becomes overwhelming. It doesn’t mean failure—it’s a tool to help people get back on their feet. The Two Most Common Types Chapter 7: Wipes out many debts (like credit cards and medical bills) in […]
Is the Unauthorized Practice of Law Gaining Attention of U.S. Trustee?
The Massachusetts Bankruptcy Court, pursuant to an enforcement action brought by the United States Trustee, ordered sanctions and issued an injunction against a bankruptcy petition preparer in Lawrence, Massachusetts. The petition preparer, Pinnacle Financial Consulting, LLC (“Pinnacle”) along with its owner, were ordered to pay monetary sanctions, return money to bankruptcy debtors and were enjoined […]
Is Your Bankruptcy Lawyer Trying to Torture You?
Bankruptcy lawyers spend a lot of time working with and thinking about the Bankruptcy Code, which is the series of federal laws that govern what happens in any bankruptcy case. We even speak in “Code,” referring to things by their section numbers, like “341 meetings” or “362 motions.” And we tend to assume a level […]
What Are Your Chances of Getting a Student Loan After a Bankruptcy Discharge?
With more and more younger people acquiring debt, and more and more adults going back to obtain a college degree, it is not unusual that some of these future students have filed a bankruptcy. So if an individual has filed bankruptcy, and needs student loans to pay for his or her education, ‘What are the […]
Can Tax Debt Help In Bankruptcy?
Overwhelming consumer debt and unpaid tax debt can feel like a one-two punch. To recover from the consumer debt hit, some consumer debtors must pass a means test and prove they are poor enough to qualify for bankruptcy relief. This can be a problem if household income is above median for the state. But, the […]
Credit Card Judgment: Too Late For Bankruptcy?
Credit card companies file lawsuits to show they’re upset and they miss your payment. If they win, they have a judgment against you. It’s not unusual for debt collectors to say bankruptcy doesn’t “work” then. They’re wrong! Bankruptcy filings stop collection of debt in its tracks. That’s why debt collectors lie about it. (You probably […]