Philadelphia Bankruptcy Lawyer for Veterans

Philadelphia Bankruptcy Lawyer for Veterans

The men and women who serve in our military deserve to enjoy financial security. Unfortunately, despite making tremendous sacrifices in defense of our nation, U.S. veterans carry a heavier debt burden than most other segments of the population. According to a recent report by the National Foundation for Credit Counseling, the average military family has more debt and higher monthly expenses than other households, while simultaneously having fewer assets. For thousands of military veterans and active duty personnel who live in Pennsylvania, everyday life is a financial struggle.

If you or your spouse is a veteran or active member of the military, and debt is becoming an unbearable strain on your financial resources, bankruptcy may offer relief. When handled skillfully by an experienced attorney, bankruptcy can reduce or eliminate debt, protect your belongings from repossession, and potentially even save your home from foreclosure. However, due to the complexity of bankruptcy laws, it’s important to have guidance from a knowledgeable attorney who has handled cases like yours, and who understands the unique financial challenges that arise for veterans and active duty servicemembers.

For a free legal consultation about filing Chapter 7, filing Chapter 13, or exploring the alternatives to bankruptcy, call the Philadelphia bankruptcy attorneys of Sadek and Cooper Law Offices, LLC at (215)-545-0008. We are available around the clock, and will keep your information confidential.

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Erase Medical Debt by Filing for Bankruptcy in PA

Whether they serve in the Air Force, the Army, the Marine Corps, the Navy, or other branches of the U.S. Armed Forces, many servicemembers sustain injuries or develop disorders that require costly medical treatment. Depending on the severity of an injury or illness, the person may require weeks, months, or years of expensive care. In some cases, disabled veterans may require medical care for the rest of their lives.

Due to combat-related injuries and illnesses, such as amputations, traumatic brain injuries, and Post-Traumatic Stress Disorder (PTSD), many veterans incur large amounts of medical debt. In fact, according to a recent report by Becker’s Hospital Review, veterans accounted for “a majority” of the medical debt collection complaints received by the Consumer Financial Protection Bureau in 2015. For many of the veterans living in Philadelphia, relentless creditor harassment is a daily reality.

If you are deeply in debt because of treatment for combat injuries, filing for bankruptcy could be an effective solution. Bankruptcy allows filers to “discharge,” or erase, medical debt resulting from surgeries, hospital admission, examinations, medications, and a wide variety of other medical costs. If you follow the bankruptcy court’s rules, and obey the state and federal laws regulating bankruptcy procedures, you will have the opportunity to reduce or even erase your medical debt.

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Chapter 7 vs. 13: What is the Difference?

While there are many types of bankruptcy, most filers choose either Chapter 7 (called “straight” or “ordinary” bankruptcy) or Chapter 13 (called “reorganization” bankruptcy). Chapter 7 is slightly more common, but both chapters are used by thousands of Pennsylvanians every year.

If you file Chapter 7, you will enter a “liquidation” process. You will not have to make any further payments to your creditors while the bankruptcy is pending. However, a Chapter 7 trustee will be appointed to sell some of your property. The proceeds from the sale help repay your creditors. After approximately four to six months, the court will discharge your case, and you will be able to wipe out any remaining medical debt.

Even though Chapter 7 is a liquidation process, you will likely be able to keep most or even all of your property, for two reasons:

  1. You may be able to protect certain belongings by using bankruptcy exemptions strategically.
  2. The trustee may decide not to sell certain properties, depending on their value.

Chapter 13 is a slower, more complicated process than Chapter 7. However, depending on the situation, Chapter 13 may be the more better option for you. If you file Chapter 13, you will be required to make monthly payments to the Chapter 13 trustee, who will then distribute your payments among your creditors. This “reorganization” process will continue for three to five years, depending on the details of your case. As long as you make your payments in full and on time, you can retain all of your property, including your vehicle. You can even stop your home from being foreclosed on. When you complete your reorganization plan, the court will discharge the remaining debts.

Regardless of whether you file Chapter 7 or Chapter 13, you will have the opportunity to reduce or erase multiple types of debt. In addition to wiping out medical debt, you will also be able to wipe out credit card debt, business debt, debt from personal loans, debt from past-due rent or utility bills, and many other sources of debt. Be advised, however, that debts from alimony and child support cannot be wiped out. Income tax debt and student loan debt may be wiped out, but must be evaluated on a case-by-case basis.

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Philadelphia Bankruptcy Attorney for Military Veterans and Active Duty Servicemembers

Everyday tasks can become major stressors when you are living with the constant weight of debt on your shoulders. Bankruptcy can provide relief by erasing your debts, protecting you from debt collectors, and potentially, protecting your most cherished belongings, including your home and car. By wiping away stubborn debts, bankruptcy can also give you breathing room to rebuild good credit, putting you into position for a brighter financial future.

To learn more about the benefits of Chapter 7 or Chapter 13 for military veterans and active duty servicemembers, call the Philadelphia bankruptcy attorneys of Sadek and Cooper Law Offices, LLC at (215)-545-0008 for a free bankruptcy consultation. We are available 24 hours a day, seven days a week, to help you get back on your feet.

 

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SEEWHAT OUR CLIENTS ARE SAYING

Lavern Baker
Lavern Baker
17:03 23 Feb 18
You are all super lawyers. Brad and Matt made me feel comfortable. Every one in your office so nice and just made it easy. You’re the best!
peter b
peter b
19:42 21 Feb 18
Thank you, Sadek and Cooper Law offices for your dedication on my behalf. I appreciate Matthew and Patrick and your staff and all that everyone did to support me in this legal matter. You took an embarrassing, sad experience, for me, and turned it into a successful solution without all the emotional pain expected. After dealing with a loan modification company for over eighteen months without going to an attorney first that is the biggest mistake anyone can make. The Modification Companies set out to sell you lies, broken promises and dilute the homeowner's assets with no knowledge of any kind of law. I can't stress enough stay away from Modification companies, as a Military Veteran and family man, protect you or your family best interest. Go directly to Sadek and Copper you will not regret it! This firm moves with Super speed and diligence protecting you and your family's the entire process, even after watching some of these other attorneys in the courtroom appearing to mishandled their clients’ cases before the Trustee. You made it easy and I’m finally getting my financial life back on track! Thank you for your prompt replies to me, your clear information and preparation needed when at the courthouse. I would of course recommend you to others and I am glad you were the one who had my case. Kind genuine law firm who treats you like family. God bless you all and I pray for your continued success in your field of expertise. This firm is Super Lawyers for a reason. They are the best at what they do! Pete
Doug Tinlin
Doug Tinlin
06:55 15 Feb 18
Brad Sadek gave me hope when he decided to handle my mortgage for enclosure defense. I had exactly 10 days left of the 30 days ultimatum given me, but he was able to bargain for an extra 30 days for me to pay up. That duration turned out just right.
Jacinth Jacinth
Jacinth Jacinth
16:07 31 Jan 18
Excellent service. Brad and Matt were outstanding and friendly. They helped me through this. I’ve never met attorneys like these. Thank you!
julie njoku
julie njoku
12:29 24 Jan 18
Brad Sadek is excellent!. He understands and he's fair. You feel like you have someone fighting for you. The staff is friendly, professional, and courteous. These guys are the best at what they do !
Owen Black
Owen Black
20:14 09 Jan 18
Thanks for the great service! I would recommend this firm highly. Throughout the years I have been helped by this firm greatly and very much appreciated.
Steven Rychalsky
Steven Rychalsky
15:30 09 Jan 18
Sadek and Cooper law office was a wonderful experience to work with. Bankruptcy is a difficult experience but they helped with the stress so much and made it easy. I would recommend Sadek and copper too anyone.
Chris Kourelias
Chris Kourelias
19:09 28 Dec 17
Working with both Brad & Matthew was a pleasure. Both gentlemen are extremely knowledgeable and helpful in providing me the right assistance needed to make the correct decision to benefit me in the long run. I would recommend both candidates to anyone looking for assistance with a reputable law firm.
Jennyfer Santana
Jennyfer Santana
21:17 21 Dec 17
Highly Recommended. Matt & Brad assisted with my case. I felt comfortable throughout the entire process. Matt was very understanding, patient, and ensured he answered all my questions! Both great guys and very friendly! It was a pleasure working with Matt and Brad.
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