Posts by Sadek & Cooper

What is a Proof of Claim in Philadelphia Bankruptcy Court?

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In Chapter 13 bankruptcy, the debtor proposes a three- to five-year reorganization plan which creates terms for monthly payments on secured, priority, and unsecured debts, generally in that order. Creditors are repaid in full or in part, and in return, the debtor gets to keep all of his or her property. When the plan is…

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When Can a Mortgage Company Start Foreclosure in Philadelphia?

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Any major U.S. city has its fair share of foreclosures, but in Philadelphia, the number is higher than average. According to a June 2015 Philadelphia Business Journal report compiled using data from real estate company RealtyTrac, “Greater Philadelphia’s foreclosure activity jumped 28% from last May, ranking it among the five worst metro areas in the…

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What Are the Credit Counseling and Debtor Education Requirements for Bankruptcy in Pennsylvania?

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Bankruptcy involves a few mandatory steps, including two educational course requirements. The first course occurs before the debtor even files for bankruptcy, and is called “credit counseling.” The second course occurs after filing but prior to discharge, and is called “pre-discharge debtor education” or simply “debtor education.” Regardless of whether a person is filing under…

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Can Creditors Try to Collect a Debt After You File for Bankruptcy in Pennsylvania?

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In March, Pittsburgh-based battery maker Aquion Energy Inc. filed for bankruptcy after failing to generate the necessary funding to continue business operations. In response, Aquion’s biggest creditor – the Pennsylvania Department of Community and Economic Development (DCED) – made clear its intentions to protect its own best interests. According to a statement issued by DCED…

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Can You Appeal if Your Bankruptcy Case is Dismissed in Pennsylvania?

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In July 2012, Henry W. Jarusik and Kathleen M. Brady filed for bankruptcy in the United States Bankruptcy Court for the Eastern District of Pennsylvania, which has courthouse locations in Philadelphia and Reading. Approximately two years later, in September 2014, their case was dismissed by the bankruptcy court after a motion was filed by the…

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Will I Have to Close My Business if I File for Bankruptcy in Pennsylvania?

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Earlier this month, electronics and clothing retailer HHGregg announced a decision to close 88 stores in over a dozen states, including Pennsylvania, as part of an effort to restructure the business through Chapter 11 bankruptcy. However, though often utilized by large chains and corporations like HHGregg, Chapter 11 is seldom suited to local family-owned businesses…

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