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 successfully completed, the court will discharge

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 nation.” If you’re a Philadelphia area

According to statistics supplied by the U.S. Bankruptcy Court for the Eastern District of Pennsylvania, which has jurisdiction over Philadelphia and the surrounding counties, most Pennsylvanians who declare bankruptcy do so using Chapter 7 or Chapter 13, with well over 4,000 cases of each filed during the 2016 fiscal year. The main feature that distinguishes Chapter 13 from Chapter 7 is

Most people who file for Chapter 13 in Pennsylvania have more than one debt, with some of the most common sources being credit cards, medical bills, and mortgages. If this describes you, you should know some basics about the order your debts will be paid in, and to what extent. By understanding a few key facts about the way debts are