Sadek Bankruptcy

Sadek Chosen as Top Philadelphia Bankruptcy Attorneys

bankruptcy lawyer chapter 11 philadelphia

Sadek Bankruptcy Law Offices Chosen as Top Philadelphia Bankruptcy Lawyers Sadek Bankruptcy Law Offices 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 […]

Motion for Relief from Stay in Chapter 13 Bankruptcy

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 […]

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 Tactical […]

Modification of a Chapter 13 Bankruptcy Plan

A Chapter 13 Bankruptcy repayment plan lasts between 36 and 60 months. During that period of time there are many events that may happen which may diminish or enhance one’s ability to repay their creditors under a Confirmed Chapter 13 repayment plan. Change in circumstances that are cause for a modification of a confirmed bankruptcy […]

Credit Reports and Charge Off

It is common for a debt to be listed as a “charge-off” on a credit report. Some consumers have mistakenly viewed a charge-off as a positive indicator on their credit report, because the phrase charge-off may be interpreted as the consumer no longer owes or is responsible for payment of the debt. In fact, the […]

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, […]

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 […]

What to expect at a Bankruptcy Hearing

Whether filing a Chapter 7 Bankruptcy or a Chapter 13 Bankruptcy, the Petitioner(s) must attend a 341 Meeting of Creditors. Although named the Meeting of Creditors by Statute, it is extremely rare for a creditor to appear at the 341 Meeting. In the event a Creditor does appear, it is usually because they have additional […]

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 […]

The Omitted Creditor in Bankruptcy?

This blog stems from a Chapter 7 client who asked “What happens if a creditor is not listed?” It is Sadek Bankruptcy Law Officess’ common practice that prior to a bankruptcy filing we review a 3 source credit report and collect all bills from our clients to ensure all creditors are listed on a Bankruptcy […]

Steps Prior to Filing for Bankruptcy

Filing bankruptcy is not something people want to do, rather something they have to do for various different reasons. When a person or married couple makes the decision to file for bankruptcy there are a few guidelines they should follow to make the bankruptcy procedure as easy and quick as possible. 1. Consult with an […]

How much does a bankruptcy cost?

There is no doubt that a person files for bankruptcy when they are not in the best financial position.  Accordingly, a question that we are asked daily is “How much are bankruptcy fees.”  First, the court filing fees including credit counseling, debtor education and a credit report total about $400.00 for a Chapter 13 and […]