Have any questions about your stimulus, creditors, or your financial options in these uncertain times? Watch (or read) the following conversation with attorney Brad Sadek as he answers all of the above.
Some of the most famous and well-known actors, business people and socialites have filed for bankruptcy.
1. Do Not Incur Post Bankruptcy Unsecured Debt Whether you have filed for a Chapter 7 Discharge or a Chapter 13 Reorganization of debt, potential lenders will most likely send offers for new credit. Potential lenders target Petitioners post bankruptcy because their finances are under control. The offers of credit are usually in the form […]
We live in difficult economic times. It is often beyond one’s control if he or she loses a source of income, or has a family financial emergency that makes it difficult or impossible to pay all the bills in a given month. For instance, if the inability to make your required credit card payments continues, […]
A reaffirmation agreement is entered between the Petitioner in Bankruptcy/borrower and a secured lender prior to a discharge in Chapter 7 Bankruptcy or Chapter 13 Bankruptcy. A reaffirmation Agreement is signed by the Debtor and Lender and filed with the Bankruptcy Court and most importantly waives discharge of the mortgage or otherwise secured debt. The […]
A Motion for Relief from the Automatic Stay imputed in bankruptcy is filed by a Creditor, usually a mortgagee or automobile lender, and alleges that the Petitioner in Bankruptcy has fallen behind on post-petition mortgage or vehicle payments. For example, if a Petitioner files a Chapter 13 Bankruptcy Plan and fails to make their post-petition […]
A recent blog by Steve Rhode of Huff Post was titled “Why a Chapter 7 Bankruptcy Should Be Your First Option and Not a Last Resort.” It discussed the financial benefits of exploring bankruptcy first in order to best address relieving debt. In Philadelphia and its surrounding counties, those dealing with credit card debt, collection […]
On April 3, 2015 it was decided that social media accounts may be deemed property of a bankruptcy estate. The principle was confirmed in the bankruptcy matter known as In re CTLI, LLC (Bankr. S.D. Tex,. Apr. 3, 2015). The facts of the case were that the Chapter 11 Business Debtor doing business as […]
One of the most common questions I receive is “How can I improve my credit after a bankruptcy filing?” My advice involves making timely and regular payments on a mortgage or rent, a vehicle if the Petitioner owns one and equally important, not incurring any new debt after a bankruptcy filing. Further, our firm recommends […]
With our growing and busy practice, it is rare that we have time to reflect on the past year and look forward to progressing into 2015. In 2014, Sadek and Cooper expanded in both personnel and office locations. In 2014, our firm welcomed two new staff members. In May of 2014, our office hired Brenda […]