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Is Bankruptcy Right For You? Filing for Bankruptcy is not right for everyone. However, if you are like many people who are tired of struggling every day with mounting debt, you owe it to yourself to learn more and find out if it can provide you with the relief you deserve. With a knowledgeable lawyer…
THE BANKRUPTCY FEDERAL EXEMPTIONS AS ESTABLISHED BY CONGRESS The federal exemptions are found in section 522(b) of the Bankruptcy Code. The Debtor’s interest (value minus secured debt, as an example, if the debtor owns a house worth $50,000 subject to a mortgage of $50,000 the debtor’s interest is $10,000) in the following: (1) residential exemption:…
Stay in Business by Filing Chapter 11 Bankruptcy It seems as though nearly every American person or business has been suffering from financial loss due to the recession: jobs are cut, families have had to deal with foreclosures, and businesses have gone under. If you, like many Pennsylvania residents, own or are part of a…
Property of the Debtor protected by the bankruptcy filing. PROPERTY OF THE ESTATE & PROPERTY EXCLUDED FROM THE ESTATE When a Property of the Debtor bankruptcy is filed the person filing is called the Debtor. The fling creates an estate called the bankrupt estate, and all of the Debtor’s property is placed in this estate. This…
Pennsylvania Chapter 7 Bankruptcy Protection Our economy has left many Americans finding themselves in a constant struggle to make ends meet. If you have lost your job, own your own business, are behind on your car or mortgage payments, or are simply swimming in credit card debt, declaring bankruptcy can help you begin to put…
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