Compassionate Wilkes-Barre, PA bankruptcy Attorney C. Stephen Gurdin Jr. both assists you with your current financial situation, and helps you plan for a better future one, working with you to: Rebuilding Your Credit …Determine if you are eligible for Chapter 7, Chapter 11 or Chapter 13 Bankruptcy Learn what property is exempt Strategize how to…
The automatic stay Upon filing of a bankruptcy certain actions of creditors are automatically stayed from collecting pre-filing claims.. This stay serves two main functions. First, it allows the debtor some breathing space to see if it can reorganize and retain some or all of the assets, continue its business, stop foreclosure, resume mortgage payments….
REAFFIRMING A DEBT Reaffirming a debt means that the debtor agrees to be responsible for a debt that would otherwise be discharged. This procedure most frequently arises when a chapter 7 debtor has a secured vehicle loan. The loan agreement provides that if the debtor files for bankruptcy, that filing is a default and the…
THE EFFECT OF DISCHARGE-WAIVER-DEBTS NOT DISCHARGED The Bankruptcy Code prohibits collection against a debtor once a debt has been discharged in a bankruptcy. This applies to debts that arose prior to the date the bankruptcy was filed. If the creditor has a lien against an asset of the debtor and the lien attached prior to…
The unified tax on transfers has three parts: gift tax(for transfers made during life), estate tax(for transfers made at death) and generation-skipping tax(for transfers that skip a generation). The gift and estate taxes are imposed on an individual for gifts during life and on his or her estate for transfers at death based upon the…
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