Find out everything you need to know about Philadelphia bankruptcy, PA divorce, immigration, etc. by reading our latest blog posts.
  • Your retirement years are supposed to be when you kick back, relax, and enjoy the fruits of your many years of labor. But life is unpredictable, and medical emergencies and other unexpected circumstances can lead to big bills that quickly deplete your available funds. If you’re being buried by bills and pursued by creditors, then bankruptcy may be the best answer for you. Here’s what you need to know about filing for bankruptcy during retirement. No matter when you’re considering bankruptcy, one of the first steps is determining which Chapter is the right one for you. While Chapter 7 can …Read More ➡

  • Unlike a Chapter 7 bankruptcy that wipes out all debts and provides a completely clean slate, a Chapter 13 bankruptcy reorganizes your debts into a program that is more manageable, usually by either extending the amount of time in which you can pay back your creditors, reducing the amount owed, or lowering the interest rates. Debtors who decide to file for bankruptcy don’t necessarily choose a Chapter 13 bankruptcy voluntarily: rather, their assets and income are measured against their debts in a means test. If the test determines that they have sufficient income available to pay, Chapter 13 is their …Read More ➡

  • Separation and divorce are both ways to put distance between yourself and your spouse, but they have very different effects and ramifications.  Divorce represents a legal dissolution of your marriage contract, while separation means that you are still legally married. For some, separation is a necessary step on the way to divorce, while others view separation as their end goal. Let’s take a closer look at the two. Separation provides couples time and space away from each other but still leaves both spouses’ legal rights and obligations intact. For example, couples who are separated can each still receive Social Security …Read More ➡

  • In 2020, over half a million people filed for bankruptcy, and in 2019 that number was closed to 750,000. That may seem like a lot, but experts say that number could – and perhaps should – be much higher. With approximately 14% of Americans owing more than they own, there are many more people who could benefit from filing for bankruptcy. Many of them don’t because they simply don’t understand the process or how it could help them, and one of the biggest mistakes people make is believing that bankruptcy is only for severe debt. The truth is that there …Read More ➡

  • Ask what finally pushed a person into filing for bankruptcy and you’ll frequently hear that they simply could not tolerate the calls from bill collectors for one more day. These calls are designed to make debtors remit payment, and though the monies they seek are legitimately owed, their tactics are often less than ethical, and often border on intimidation and harassment. Though there are laws that protect debtors from being called earlier than 8 a.m., later than 9 p.m., or at work (if so requested), the one thing that is most effective at stopping the calls is filing for bankruptcy. …Read More ➡

  • Do you and your spouse fight about money? You’re not alone. Anecdotal evidence and scientific studies both reveal the same thing – that roughly half of couples argue about money and spending, and if the couple is in debt or experiencing financial problems the arguments are generally worse. While it’s common for partners to argue about spending habits — especially when one is a spender and the other is a saver — there are also plenty of fights about who should pay for what within a marriage, and others that start with one partner trying to hide either an expense …Read More ➡

  • One of the biggest concerns and reasons why people are hesitant about filing for bankruptcy is the long-term impact that filing has on their credit report. Though a bankruptcy filing does not remain on your credit history forever or create a permanent black mark, it can definitely feel as though it does. Here’s what you need to know about the real time frame for both Chapter 7 and Chapter 13 bankruptcies, as well as some tips for improving your credit score immediately. The date that your bankruptcy gets removed from your credit score is dependent upon whether you file for …Read More ➡

  • Making the decision to file for bankruptcy can be emotional and difficult. For some it is the culmination of a long struggle to get their financial feet under them, or the end result of a series of unpredictable events such as a job loss or medical emergency. No matter what the circumstances that led to your debt, once you’re ready to move forward you need to decide whether to file for yourself or to seek representation from an attorney. Though it is certainly possible to address the paperwork on your own, most people find that an attorney makes the process …Read More ➡

  • The goal of filing for bankruptcy is twofold: get out from under insurmountable debt and get a fresh start on financial stability. Unfortunately, not everybody succeeds in that second part. In fact, a study found that 8% of people who file for bankruptcy eventually file a second time around. Though you can file for bankruptcy protection as many times as you need to (and qualify), the Bankruptcy Code does impose a minimum amount of time that must pass between filings, with those thresholds dependent upon the type of bankruptcy you originally filed for and the type you want to file …Read More ➡

  • Cars and trucks represent different things to different people. For some, it means freedom, while others have tied their identity to the car they drive. Still, others rightly view their vehicle as a tool they rely on to get their work done or to get them to or from their job, school, or other responsibilities. For all these reasons, their car is one of the top concerns among bankruptcy filers. Here’s what you need to know about how bankruptcy courts approach vehicles. If you file for Chapter 7 bankruptcy, it will automatically stop collection calls about your car and put …Read More ➡

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