Find out everything you need to know about Philadelphia bankruptcy, PA divorce, immigration, etc. by reading our latest blog posts.
  • Statistically speaking, small businesses are far more likely than large businesses to file for bankruptcy. There are a few reasons for this. The first is the overall failure rate of small businesses. According to the Bureau of Labor Statistics, one in five small businesses fail in the course of their first year, and that number only grows as time goes by, with 30% failing in their second year and nearly half failing after five years in business. But failure is not the only reason for the gap between the percentage of small and large businesses filing for bankruptcy. The other reason for …Read More ➡

  • Easy divorces are extremely rare. In most cases, the divorce process is contentious. In some cases, they are extremely high conflict affairs. The stress of a contentious divorce can have wide-ranging impacts on the individuals getting divorced and their children, as well as their family and friends. In some cases, the stress goes beyond the norms and reaches a level that creates a medical diagnosis of PTSD, or Post Traumatic Stress Disorder. There are many factors that can contribute to a divorce leading to PTSD. If the divorce is the outcome of adultery or abuse, the psychological scarring can arise from those …Read More ➡

  • If you are already having a hard time paying your bills, the approach of tax time adds another layer of stress — especially if you not only owe money for this past year, but also for years past. Whether you are simply worried about paying this year’s tax debt, never paid your prior years’ taxes, are currently paying the IRS for previous tax years on a monthly payment plan, or any combination of these, you can file for a Chapter 13 bankruptcy plan and structure payment into your payment plan. Filing for Chapter 13 bankruptcy offers several advantages when it …Read More ➡

  • It’s not hard for the curious to do some digging and find some eye-popping divorce settlements that have been agreed to by the rich, famous, and not-so-famous. But in all likelihood, they are all going to pale in comparison to what Amazon CEO Jeff Bezos may agree to in his divorce. Bezos and his wife of 25 years, MacKenzie, recently announced that they are ending their marriage amicably, and though their tweeted announcement painted a picture of two best friends, intent on continuing as co-parents and partners, there’s little doubt that Bezos, the richest man in the world, will be …Read More ➡

  • Going through a divorce is challenging under the best circumstances, but when there are children involved things are always more complex, and often more contentious. Every situation has its own unique dynamics, but a relatively new issue that has been introduced to custody discussions is the question of whether or not a parent can have their custody taken away or whether their chances of getting custody can be affected by their use of medical marijuana. The state of New Jersey enacted the New Jersey Compassionate Use Medical Marijuana Act in 2010, and Pennsylvania passed a similar (though more restrictive) law …Read More ➡

  • If you’re in the process of negotiating or navigating divorce and you’re anticipating taking advantage of the alimony tax deduction, we have bad news for you – as of Dec. 31, 2018, that deduction will no longer be available to you. If you are anticipating being on the paying end of spousal support, not only can you no longer deduct the amount you’ll be paying, but your soon-to-be-ex has now gotten something of a windfall, as they will no longer have to report what you pay them as taxable income. If that hardly seems fair to you, you’re not alone. …Read More ➡

  • In the state of Pennsylvania, grounds for getting a divorce can be classified as either no-fault or fault. In most cases, people file for a no-fault divorce: this is the most straightforward process, and usually takes the least amount of time. However, there are some instances when a spouse refuses to consent to a divorce, is not available, or has engaged in some type of significantly negative behavior that demands that the divorce is sought on fault grounds. Marriage abandonment is one reason for an at-fault divorce. There are several different reasons why a person can seek an at-fault divorce …Read More ➡

  • Though Chapter 11 bankruptcies are usually associated with businesses, they can also be a good answer for high net-worth individuals. In both cases, this chapter of the bankruptcy law provides the ability to hold on to assets instead of selling them off: instead of liquidation, the entity seeks approval for a reorganization process that both stops debt collection activities and provides creditors with a way of getting some or all the monies that they are owed. If you are interested in pursuing a Chapter 11 bankruptcy, it is important for you to understand all of the applicable terminology and components …Read More ➡

  • When you choose to pursue a Chapter 13 bankruptcy, you are committing to what is known as a wage earner’s plan. Unlike a Chapter 7 bankruptcy, under a Chapter 13 bankruptcy you are agreeing to pay back at least some of your debts, and in some cases all of them. The plan spells out altered terms for repayment: in some cases, your debt is lowered, in other instances the interest rate is reduced or you are given more time to pay the debt, thus allowing you to submit lower payments. Helping you create this payment plan, which must be approved …Read More ➡

  • At its most basic, a divorce is nothing but the dissolution of a contract. Where a marriage once existed, it no longer stands. There are steps that need to be followed in the process of breaking the contract: assets need to be distributed equitably, decisions need to be made about any real estate or businesses that the couple owns together, and if there are children involved then the couple will need to determine issues of custody. Every marriage is different and has different elements that represent issues that have different levels of emotional attachment. Though most people assume that there …Read More ➡

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