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How Will My Bankruptcy Impact Co-Signers in New Jersey?

Maybe your mom did it. Or maybe your best friend did. Either way, someone in your life has co-signed for a loan. It’s probably a car loan (50% of them are), but it could be a personal loan, student loan, or credit card, too. Now you’re contemplating bankruptcy. What happens to your co-signer? You should…

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Philadelphia Foreclosure Law Firms – A list of firms that may have sent you correspondence

The foreclosure process is a complex one in Pennsylvania.  It is a process that no one ever intends or desires to go through.  However, the more one knows about the process the better they can navigate the foreclosure maze and increase their chances of keeping their home for years to come.  Generally, an individual or…

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5 Ways Your Life Will Change After Bankruptcy

As bankruptcy attorneys in Pennsylvania and New Jersey, we often hear from people who are afraid their lives will be devastated after bankruptcy. Their fear of the unknown keeps them from taking advantage of this legal remedy for far too long. In truth, your life is likely to look much better after bankruptcy. The collection…

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What You Need to Know About Settling Debts

Maybe you’ve seen an ad on television or on the web which tells you that you can “settle your debts for pennies on the dollar.” Maybe a collection company has sent you a letter offering to settle your debt for less than the amount that’s owed. It may sound like a great deal. But you…

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7 Common Mistakes People Make When Trying to File Bankruptcy on Their Own

It’s just a fact. The vast majority of people who try to file for bankruptcy on their own (or pro se) don’t manage to achieve a successful bankruptcy discharge. Many go on to see their cases dismissed. Some end up facing far more serious consequences. The reason could be because they make any, or in…

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4 Signs It’s Time for Your Business to File for Bankruptcy Protection

In the past we’ve talked about signs it’s time to file for personal bankruptcy protection. But if you run a business it’s important to know when to file for business bankruptcy protection, too. Here are three things to watch out for. #1) You’re having a lot of trouble with cash flow. Most business experts will…

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Understanding the Automatic Stay

One of the most important parts of filing for bankruptcy is the automatic stay. It’s so important we thought it probably deserved a post all to itself. The purpose of the automatic stay is to give the bankruptcy case time to proceed and resolve without causing any new issues. This protection also exists to give…

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The Link Between Bankruptcy and Divorce

First comes divorce, then comes bankruptcy. Or maybe it’s the other way around. Either way, these two legal issues tend to be closely linked. If you file for one, there’s a great chance you’ll end up filing for the other. Sometimes, both cases are even happening at the same time. Here are a few things…

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Is Bankruptcy Always Emotionally Devastating?

Do a basic web search on bankruptcy and you could easily be lead to believe the entire process could chew you up and spit you out again. Financial instructor Dave Ramsey, a former bankruptcy filer himself, makes millions in part because he markets his courses as an alternative to bankruptcy. Little surprise he emphatically tells…

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How Will Bankruptcy Impact My Child’s College Fund?

The cost of tuition continues to skyrocket. If you’ve done your best to plan ahead for your child by setting aside money in a 529 account, it’s natural to wonder what might happen to these funds if you file for bankruptcy. Fortunately, we can help evaluate your situation and determine how best to protect this…

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Hiring a Bankruptcy Lawyer vs. Going Pro Se

When you’re in the middle of financial distress it’s natural to want to tighten your fist. Fears of having to pay a lawyer exorbitant fees might drive you to try to represent yourself in bankruptcy court. This is a major mistake. Here’s why. Likelihood of a Successful Case Did you know when you represent yourself…

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It’s Time to End the Stigma of Bankruptcy. Here’s Why.

As Philadelphia bankruptcy attorneys we have to educate people past the stigma of bankruptcy every single day. People have been trained to believe there is no greater shame than turning to the courts to get debts discharged and dealt with. But this is a lie, largely perpetuated by creditors who would rather pursue every American…

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4 Budgeting Apps for Life After Bankruptcy

It would be a misnomer to say everyone who ends up in bankruptcy does so because they don’t know how to manage a budget. Many people face bankruptcy because of unavoidable medical problems, sudden job losses, divorce, and other unexpected events. Still, there are also those people who wind up living well beyond their means.…

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What is the Bankruptcy Means Test?

While everyone can file for bankruptcy protection, Chapter 7 is restricted by a means test. Chapter 7 bankruptcy completely erases debts without requiring you to enter into any kind of a payment plan, so the law demands you must fall below certain income and asset levels before you are allowed to take advantage of this…

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How to Choose a Bankruptcy Attorney

Filing for bankruptcy can be one of the biggest decisions you’ll ever make. But while the act of filing can bring lots of positive changes to your life, you only really reap the full benefits if you have a qualified bankruptcy attorney standing by your side. Of course, there are a whole lot of bankruptcy…

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