Top 7 Reasons to Consider Filing for Bankruptcy
Here are the top 7 reasons our clients seek our advice regarding filing for consumer bankruptcy protection.
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 […]
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 […]
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 […]
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 […]
Foreclosure, Tax Sale and Bankruptcy, Don’t wait
One of the most common reasons one files for personal bankruptcy is to stay mortgage foreclosure. A Chapter 13 Bankruptcy, generally speaking, can be used as a repayment plan for mortgage arrears and other costs associated with falling behind on regular monthly mortgage payments, such as, interest, late fees, penalties and taxes. Moreover, once a […]
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 […]
Unsecured Debts in Chapter 13 Plans
Chapter 13 Bankruptcy filers generally have to pay a regular monthly payment to the Chapter 13 Trustee. The subject monthly payment is determined by the amount necessary to cure mortgage arrears over a period of up to 5 years or disposable monthly income, in the event any exists. The Bankruptcy Code strictly regulates for the […]
Reasons to file Chapter 13 Bankruptcy in Pennsylvania
Philadelphia, PA Chapter 13 Bankruptcy
New Bankruptcy Median Income Standards
Pennsylvania Bankruptcy Median Income Standards
Chapter 13 Hardship Discharge
Chapter 13 Bankruptcy Discharge Philadelphia
Cramming Down and Lien Stripping in Chapter 13 Bankruptcy
Chapter 13 Bankruptcy Lien Stripping and Cramming Down
Creditor Objections in Bankruptcy Filing
Many of the bankruptcy cases and referrals that Sadek Law Offices, LLC handles involves litigation ancillary to a bankruptcy filing. The litigation is usually commenced by a bankruptcy creditor filing a motion for relief from the automatic stay imputed by virtue of section 362 of the Bankruptcy code. It is statutory law in Bankruptcy law […]
Januray 4, 2011 Mortgage Foreclosure Sales STAYED
Mortgage Foreclosure Sale and Bankruptcy