By Glenn A. Brown, DMD, MBA on December 30, 2008
More often than not, married debtors file a joint bankruptcy petition. This is usually when the debt of both spouses is substantial enough to warrant a joint bankruptcy filing. However, this is not always the case. Sometimes we encounter a situation where one spouse is overwhelmed with debt, while the other spouse is not. In [...]
Posted in Blog | Tagged Bankruptcy, joint filing, non-filing spouse, requirement
By Glenn A. Brown, DMD, MBA on December 30, 2008
Our bankruptcy law firm often gets the question..”What is an automatic stay and will it stop foreclosure proceedings?”
Let’s assume you are receiving letters from your mortgage company threatening to foreclose on your home. From the moment you file for bankruptcy protection, your creditor must stop their foreclosure and collection efforts. Yes! Their calls to your job, threatening [...]
Posted in Blog | Tagged automatic stay, bankruptcy protection, Chapter 13 Bankruptcy, Chapter 7 bankruptcy, Debt Relief, save your home, stop foreclosure, US Bankruptcy Code
By Glenn A. Brown, DMD, MBA on December 27, 2008
Yes. If you are making payments to creditors under a debt consolidation plan, you still owe the debt until you have paid it in full. Thus, you can include your consolidated debts in your bankruptcy, and they will be discharged, assuming they are dischargeable on all levels.
Posted in Blog | Tagged Bankruptcy, debt consolidation, delaware bankruptcy, discharge, philadelphia, secured debt, unsecured debts
By Glenn A. Brown, DMD, MBA on December 24, 2008
The short answer to this question is “Yes.” Many of today’s bankruptcy filings result from significant credit card debt. Given the state of the economy and recent layoffs, consumers are finding it difficult to make the minimum payments on their credit card accounts. The problem does not end there. In many instances, when consumers default [...]
Posted in Blog | Tagged Chapter 7 bankruptcy, credit cards, unsecured debt
By Glenn A. Brown, DMD, MBA on December 18, 2008
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. [...]
Posted in Blog
By Glenn A. Brown, DMD, MBA on December 16, 2008
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 [...]
Posted in Blog | Tagged Bankruptcy, chapter 7, means test
By Glenn A. Brown, DMD, MBA on November 28, 2008
Any chapter 7, 11 or 13 bankruptcy filing is public record, and will remain on your personal credit report for ten years
Posted in Blog