Can bankruptcy save the American economy?

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While bankruptcy tends to be a consumer’s last thought as an answer to their debt problems, some studies are now showing that debt relief programs may actually be the saving grace of our nation’s economy.

5 Post Bankruptcy Tips to Remain Debt Free

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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 […]

Should I reaffirm my Mortgage Debt After Bankruptcy

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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 […]

Sadek and Cooper Chosen as Top Philadelphia Bankruptcy Attorneys

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Sadek and Cooper Chosen as Top Philadelphia Bankruptcy Lawyers Sadek & Cooper Law Offices has been recognized by My Fox Philly’s MojoAwards as the top rated bankruptcy law firm in the Philadelphia area. The Mojo competition is conducted weekly, highlighting a different type of business each week. Since the competition for best bankruptcy law firm […]

Chapter 7 Bankruptcy as a First Option, Not a Last Resort

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 […]

Business Bankruptcy and Social Media Accounts

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 […]