Top 7 Reasons to Consider Filing for Bankruptcy

bankruptcy attorneys pa

Over the years, our Philadelphia, Pennsylvania based Bankruptcy law firm has filed thousands of consumer bankruptcy cases.  In each case, the goals of our clients have been fairly similar; to achieve a fresh financial start or to reorganize their financial affairs. Although our clients financial goals are similar, the reasons they seek our assistance varies […]

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 […]

Bankruptcy and NFL Draft

This Thursday, April 30, 2015 is the NFL Draft.  There, college players who lack any experience but have the world of potential will receive millions of dollars to play the game they love.  It sounds great, but, a recent article in the April 15, 2015 edition of the Washington Post suggests otherwise. The article states […]

What to bring to the Bankruptcy Hearing

In every bankruptcy case, whether a Chapter 7 Bankruptcy matter or a Chapter 13 Bankruptcy matter, the petitioner must attend a 341 Meeting of Creditors. I most recently wrote a blog entry regarding the 341 Meeting and the questions most frequently asked at the Meeting on August 31, 2012. In this blog, I would like […]

FHA Back to Work Mortgage Program

Recently, the Federal Housing Administration moved to relax its guidelines and expedite the waiting period to secure a mortgage for borrowers who “experienced periods of financial difficulty due to extenuating circumstances”. The program exemplifies the FHA’s willingness to help those who have endured a financial situation beyond their control. The program is generally known as […]

Debtor Education/Financial Management Course and Bankruptcy

On or about March 10, 2014 (see below) a blog was written and posted by Brad J. Sadek, Esquire regarding the Credit Counseling Course prerequisite to filing a consumer bankruptcy under Chapter 7 or Chapter 13. In addition to the Credit Counseling Course, a second and final course is required. The Second Course, Debtor Education, […]

Credit Counseling and Bankruptcy Filing

Under the Bankruptcy Abuse and Consumer Protection Act of 2005 individuals who plan to file for bankruptcy must complete under Rule 11 U.S.C. Section 109 a Credit Counseling Course prior to filing a Chapter 7 or a Chapter 13 Bankruptcy Petition. Our office ensures that all clients comply with the counseling requirement and registers all […]

Bankruptcy, the Earlier the Better

It is generally agreed that the earlier one makes the decision to file for bankruptcy, generally the better and the quicker their financial recovery process starts. Likewise, filing for bankruptcy sooner in the calendar year may prove to be more advantageous as well. According to American Research Group, Inc., the average family spends $854 in […]

Staying a Real Estate Tax Sale by way of a Bankruptcy Filing

When the owner of real property fails to make regular payments on municipal debt levied on his/her property, that property may be sold at a real estate tax sale to allow the city/municipality to recover any unpaid debt. These debts can include outstanding water and sewer bills, school district taxes, and real property taxes. The […]

Chapter 7 Repeat Filing

On October 17, 2005, a major change in the bankruptcy law went into effect. The law change specifically referred to as The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (“BAPCPA”) changed many aspects of consumer bankruptcy law(s). One of the many implemented changes was the waiting period between a consumer’s bankruptcy discharge in […]