Benefits of Bankruptcy Filing – If mounting bills, the threat of foreclosure and the constant hounding of creditors on the phone have become a source of stress and worry in your life, you may be wondering if you can even afford the process of bankruptcy. Know that if you feel this, you are not alone. Many people who are considering filing for bankruptcy deal with the same concerns and doubts. How can you pay attorney and filing fees when you are already having enough trouble paying your mortgage or credit card bills? But the truth is, by filing for bankruptcy now with the help of an experienced and skilled Pennsylvania bankruptcy lawyer C. Stephen Gurdin, you will be saving yourself money and heartache down the road. He will work with you to make a financial clean slate a reality.
In a non-small business case, benefits of bankruptcy filing the debtor may file a plan along with the petition or at any time File A Bankruptcy Plan. The Bankruptcy Code does not provide a deadline for the plan filing. See §1121. In a small business case the plan must be filed within 300 days of the petition filing date. In a non-small business case debtor is the only one who can File A Bankruptcy Plan within 120 days from the petition filing date. This period may not be extended beyond a date that is 18 months after the petition filing date. This is called the period of exclusivity. In a small business case the period of exclusivity is 180 days from the petition filing date. In a small business case the plan must be confirmed within 45 days after it is filed. In a non-small business case the plan must be confirmed within 180 days after it is filed. This period may not be extended to a date that is more than 20 months after the petition filing date.
Benefits of Bankruptcy Filing | Attorney C. Stephen Gurdin Jr.
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