Unemployment rate on the rise
More than 500,000 jobs were cut in November alone. As layoffs continue, new claims for unemployment benefits are rising across the country. The rates we are witnessing now are the highest since 1982. Read more...
Glenn A. Brown, Esq.
Gas prices continue to fall
According to AAA Mid-Atlantic, the Philadelphia area witnessed another decline in gas prices this past weekend. Today, in five Philadelphia counties, gas prices are down an average 2 cents. Diesel in Philadelphia is down approximately 4 cents as well. South New Jersey is also witnessing lower gas prices today - down to $1.52 from $1.70…
What are the federal bankruptcy exemptions?
Pennsylvania is one of few states that allow debtors to use both state and federal bankruptcy exemptions. Other states, such as Delaware, have opted-out of the federal system and do not allow debtors access to federal bankruptcy exemptions. Click here to review a list of common federal exemptions, and the maximum amount allowed per individual.…
What is the bankruptcy means test?
In late 2005, the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 was enacted into law. Among other things, this act requires a "means test" to see if debtors qualify for Chapter 7 bankruptcy relief. The means test examines your monthly income and expenses and compares them to the median income in and around…