Posts by Brad Sadek, Esquire

“Reaffirming” a debt is an option you have after completing a Chapter 7 bankruptcy. It means you’re once again taking on responsibility for that debt, and intend to pay it. This may seem like a loony thing to do when the courts have just released you from all legal obligations to touch the debt ever…

What’s your picture of what life looks like when you’re in the middle of a Chapter 13 bankruptcy? If you know a little bit about the Chapter 13 process then you already know you’ll have to live with a trustee-approved budget, and your disposable income will go to paying off your debts for 3 to…

Today is the biggest shopping day of the year, and many people will be taking to the street in search of the best deals. But if you’re in bankruptcy or close to filing, holiday gift giving, and receiving, can raise some tough questions. The average American spends $700 on Christmas gifts. The American Research Group…

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…

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…

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…

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…

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…

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…

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…