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What Property Can I Keep After Bankruptcy

  • March 24, 2017

Many people considering bankruptcy wonder what property they will be able to keep during and after the bankruptcy process. The two greatest benefits of a Chapter 7 bankruptcy are the automatic stay protection (stopping creditor collection) and the bankruptcy discharge…

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There’s No Shame in Bankruptcy

  • March 13, 2017

  One of the biggest misconceptions regarding bankruptcy is that it’s a personal stigma of failure or a character flaw. Bankruptcy can happen to anyone, at any time, for many reasons. Natural disasters, bad economies, serious medical conditions, divorce, car…

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When Should You Throw in the Towel?

  • February 19, 2017

Honest people who want to make good on their debts are increasingly overwhelmed. They find it impossible to rebuild their financial lives. Attempting to make even the minimum payments on a sea of debt can wipe them out. It can…

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Does My Spouse Have To File For Bankruptcy, Too?

  • February 1, 2017

  To have and to hold from this day forward, for better for worse, for richer for poorer…stop right there! What about the mortgage foreclosure? What about a spouse’s business debts? Perhaps there should be an additional line added to…

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Do Not Ignore Student Loans!

  • November 16, 2016

  If you fail to pay your student loans, you most likely won’t find armed federal agents at your door, but it is a very bad idea to ignore this debt. Student loans don’t just go away and there are…

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Personalized Information and Bankruptcy

  • July 28, 2016

There are many good resources online for just about any topic you may be interested in. Along those lines, many people search for bankruptcy information online. This can be a good resource for people to get general information on the topic, but there’s not a single “correct” option for a family. A bankruptcy attorney can learn your specific situation to help you determine if filing Chapter 7 or Chapter 13 is in your best interest.

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What is Disposable Income in Chapter 13?

  • April 5, 2016

When a person creates their Chapter 13 repayment plan, they will need to calculate their disposable income in order to determine how much to repay creditors. This is the amount left over after a person has paid out necessary expenses. This sounds a little confusing, but it’s relatively straightforward. A Philadelphia bankruptcy lawyer can sit down, discuss your finances, and help you calculate your disposable income.

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What Happens at the End of Chapter 13?

  • February 5, 2016

In Chapter 13 bankruptcy, the filer sticks to a repayment plan that lasts between 3-5 years. Debtors pay back a portion of their income to a trustee, who disperses this money to creditors. This helps a debtor pay back what they can without falling behind on their obligations. But what happens when this is complete? Does the debtor have to continue paying the full amount on their debts? Fortunately, this isn’t the case. A bankruptcy lawyer can examine your situation and explain how Chapter 13 might benefit you.

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What is Disposable Income in Chapter 13?

  • November 23, 2015

When a person files Chapter 13 bankruptcy, the court will look at their overall financial situation to determine how much the can comfortably pay back their creditors. Filers may worry that they won’t have money left over for rent, groceries, and other necessities. Fortunately, the court will look at your “disposable income” in order to find a payment that is fair for both creditors and debtors. A Chapter 13 lawyer can help come up with a plan that gets your debt under control while paying back a portion of what you owe.

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How Many Times Can I File for Chapter 7 Bankruptcy?

  • October 19, 2015

Chapter 7 bankruptcy gives someone a chance at a fresh start free of burdensome debt. But some people find themselves back in trouble again and wonder if they can take advantage of this bankruptcy again. There is no limit to the number of times a person can file for Chapter 7, but there are time restrictions that prevent a person from filing again too soon. If you have previously filed bankruptcy and need help again, a local bankruptcy lawyer can examine your situation and answer your specific questions.

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