Find out everything you need to know about Philadelphia bankruptcy, PA divorce, immigration, etc. by reading our latest blog posts.
  • Many people who’ve filed for bankruptcy say that though reaching the decision was hard, once it had been made, they felt that an incredible burden had been lifted from their shoulders.  While the promise of a fresh start represents an enormous psychic shift, the process is not automatic. In most cases, a Chapter 7 bankruptcy will take between four and six months from the point that you file until the discharge of debts finally takes place. Of course, bankruptcy does not begin with the filing itself. Before the filing, there are several steps that you’ll need to take, including: Collecting …Read More ➡

  • The idea of a “do-over” is incredibly appealing, especially if you’ve been struggling for a long time. If your debt has become a burden that you are simply unable to get out from under, then your best bet for that do-over is probably filing for bankruptcy, particularly a Chapter 7 bankruptcy. Though bankruptcy is considered a taboo subject or black mark by some, hundreds of thousands of individuals and businesses opt to file for bankruptcy each year, providing themselves with the ability to escape from collection calls and creditors and begin with a clean slate. Bankruptcy is not a magic …Read More ➡

  • The pressure of insurmountable debt is enormous and so too is the sense of relief that you feel after moving forward with a bankruptcy filing. It’s perfectly normal. But that feeling of having a great weight lifted off of your shoulders is quickly followed by the realization that you are back to square one — actually below square one — when it comes to your credit rating.  Though it can take time, and the bankruptcy filing will remain on your credit history for several years, there are several steps you can take to start rebuilding your financial health and improving …Read More ➡

  • No matter how challenging things may have been in your marriage, the first days, weeks, and months after your separation or divorce can be a lonely time. There is something about having another person there that makes a difference in the way that you perceive the world, and once you’re by yourself you will need to take active measures to adjust and reset.  Living on your own again strikes each person differently. Some respond with quick acceptance and a return to their single lifestyle, while for others separation means pain. Being alone can lead to invaluable self-reflection, but it takes …Read More ➡

  • For some, the idea of filing for bankruptcy is an absolute taboo subject, something that they associate with failure and work hard to avoid at all costs. For others, bankruptcy represents a life preserver when they feel like they’re drowning – a way to get their feet under them again and return their lives to some semblance of normalcy. Just as there’s a wide range between those two extremes, there’s a huge range between levels of credit card debt and how it impacts an individual consumer. The national average credit card balance hovers somewhere between $5,000 and $6,000. For some, …Read More ➡

  • Bankruptcy, and especially Chapter 7 bankruptcy, offers a fresh start for those who have racked up insurmountable debt. Though debtors may be vulnerable to some of their assets being liquidated, the filing can wipe away unpaid medical bills and credit card bills and allow the possibility of moving forward without the burden of debt collectors and past-due notices. The same is true for tax debt, but only in certain circumstances. Here’s what you need to know about how bankruptcy will affect your tax debt. The first thing – which is often the most important to taxpayers – is that once …Read More ➡

  • Bankruptcy offers a financial lifeline for those who are unable to pay their debts, but the people who could most benefit from the process are often hesitant, stymied by the taboo that has been attached to seeking economic help. Many falsely believe that those who file for bankruptcy are simply undisciplined or irresponsible in their spending habits This is unfortunate and reflects a lack of understanding of the most common drivers of overwhelming debt. Let’s take a look at the most common reasons that people seek bankruptcy protection. Medical bills – When people filing for bankruptcy are asked what drove …Read More ➡

  • No matter who initiated your divorce – whether you, your spouse, or by mutual agreement – it is bound to represent a loss. Even couples whose relationship is fraught will be emotionally impacted by the end of a marriage, and there’s a likelihood that there will be an economic impact as well. Divorcing couples go through a process known as equitable distribution that requires that all marital assets be evaluated and divided in a way that leaves both parties with roughly the same value. While this is a fairly straightforward process for liquid assets like bank accounts, the marital home …Read More ➡

  • If you’re overwhelmed with debt and struggling to pay your bills, there’s a good chance the idea of bankruptcy has crossed your mind. Bankruptcy is something that everybody has heard of, but few understand well, and you’re not alone if you’ve told yourself that it’s only for people who are in financial straits that are far more dire than yours. The truth is that there is no specific threshold for how much you need to owe to qualify for bankruptcy or even a ratio of debt to income or a benchmark for how long you have been in debt. Rather, …Read More ➡

  • Nobody likes paying bills, but if your financial situation has made it feel impossible for you to do so, then you may consider filing for bankruptcy. Most people know that bankruptcy can eliminate many of your debts, wiping the slate clean and providing a fresh start, but few know that the process has strict requirements that must be met. The two types of personal bankruptcy are Chapter 7 and Chapter 13. Where Chapter 7 discharges most debts while liquidating many of the debtor’s personal assets, Chapter 13 reorganizes debts to make them more manageable. Though you may prefer Chapter 7, …Read More ➡

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