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Do You Have to Be Behind on Your Bills to File for Bankruptcy?

As Philadelphia bankruptcy attorneys the most common mistake we see people making is waiting too long to file bankruptcy. Fear keeps a lot of people from facing their financial situation head on and seeing it for what it is. Most people wait until every bill is behind schedule, interest is accruing at an alarming rate,…

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Will I Lose My Stuff During a Bankruptcy?

The idea you’ll lose all your stuff in bankruptcy is perhaps the biggest misconception people have about bankruptcy, and the number one fear that ensures people wait too long to file. Plenty of clients come to our offices with visions of someone carting off everything they own in a moving van. Fortunately, that never happens.…

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9 Risk Factors that Might Make a Creditor Challenge Your Bankruptcy

The vast number of bankruptcies we deal with are pretty routine. While bankruptcy exemption schedules are exceedingly complex and while it is intensely possible to make big mistakes that cause deep, heart wrenching problems, we don’t tend to see a lot of debtors getting challenged by creditors. Yet the idea of facing down creditors scares…

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In The News: Navient Student Loan Lawsuit

As Philadelphia bankruptcy attorneys we speak to people who are in over their head with student loan debt almost every week. So we have been watching the news very carefully to keep track of developments in the nationwide student loan crisis. Today’s hot news is a story about a class action law suit against a major…

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What is a Mortgage Cram Down?

If you’re considering Chapter 13 Bankruptcy because you want to save property you might have already heard of a “mortgage cram down” which can save you a great deal of money on loans. Some of our clients have even had fears about this term, as they thought it might mean they would be required to…

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Does the IRS Hire Private Collection Agencies?

Accruing a massive amount of debt to the IRS is one of the scariest things that can happen to a person. Private collection agencies can certainly pile on the stress. Here’s the short answer: sometimes the IRS uses private collection agencies, sometimes they don’t. Attempts to hire private debt collectors to retrieve IRS debt have…

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Income Tax Advantage of Personal Bankruptcy

Although the word bankruptcy may not sound appealing at first, there are many advantages of filing bankruptcy.  This article will concentrate on the often overlooked income tax advantage of filing Consumer Bankruptcy.  Outside of the bankruptcy realm, if a debt is forgiven or deemed uncollectible for less than the full amount due and owing, the…

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3 Things You Need to Know About Bankruptcy

If you’re in debt and you’re thinking about filing for bankruptcy, then it’s likely that you’re worried. Bankruptcy is a complex and confusing process. A lot is at stake and your financial future is uncertain. Learn from the experienced bankruptcy attorneys at Sadek and Cooper Law Offices to better prepare yourself for the road ahead.…

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Are You Dealing with Zombie Debt?

Maybe you paid it. Maybe it’s just so old you don’t even remember it. Or maybe it doesn’t even belong to you, just someone who shares your name. Whatever the cause, it’s a zombie debt, a debt that’s hard to slay because it just seems to keep coming back. And it can be some of…

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5 Reasons Credit Counselors May Not Be the Answer to Your Debt Problem

One of the options many of our clients consider before showing up for their free consultation is a credit counseling service. These services are not to be confused with the mandatory credit counseling all bankruptcy filers have to go through. One gets involved in managing parts of your financial life, while the other is an…

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