Category Archives: Chapter 7
How Long Does Bankruptcy Take?
Once you have made the difficult decision to file for bankruptcy, your next question is probably, “How long will this take?” You are likely extremely anxious to know when you will be on your way to rebuilding your finances. Every case is different, but there are general guidelines on how long it might take for […]
Will I Lose My Retirement if I File for Bankruptcy?
One of the questions Harold Shepley & Associates receives is, “Will I lose my retirement accounts if I file for bankruptcy?” You’ll be glad to hear that the answer to this question is “No.” When filing for Chapter 7 or Chapter 13 bankruptcy, you can keep your pension and retirement plan, with a few exceptions […]
Medical Bills and Bankruptcy
A serious illness can result in serious medical bills. In fact, CNN reports that more than 60% of people who file for bankruptcy file because of overwhelming medical bills. Most of those who file for bankruptcy are middle-class, well-educated homeowners. And, three-quarters of the people with a medically-related bankruptcy had health insurance. It’s scary to […]
Pennsylvania Bankruptcy Exemption Laws
When filing for Chapter 7 or 13 bankruptcy, there are certain exemptions—assets or properties you are allowed to keep. Exemptions are different for each state, and if you’re thinking of filing for bankruptcy, it’s important to know the exemptions for our home state, Pennsylvania. Homestead No exemption for homestead property in Pennsylvania. However, if filer […]
Searching High and Low: How Do I Find a Good Bankruptcy Attorney?
Finding a good bankruptcy attorney is like finding a good doctor. You may have to try a few before finding the right fit. But since we’re talking about your financial future here, it’s important to take the time to search out that correct fit. Here are some tips on finding a good bankruptcy attorney. Ask […]
Bankruptcy in Pennsylvania – The Means Test – Will I Pass?
In seeking relief from overwhelming debt, people often think that bankruptcy is the best choice. Many people think Chapter 7 liquidation bankruptcy is the best option for them. However, in order to be eligible, you must first pass a means test. This means test involves comparing your income to those of other families in the […]
Not All Bankruptcy Attorneys are Created Equal
If you have seen one bankruptcy attorney you have seen them all, right? Wrong, not all bankruptcy attorneys are created equal. Each one has unique skills and experiences as well as a unique approach to dealing with their clients. These differences can have a great deal of impact on the process as well as your […]
Bankruptcy: Chapter 7 vs. Chapter 13
Deciding whether to file for bankruptcy is a complicated and important decision. If it is indeed the right choice for you, you and your attorney will need to decide what type of bankruptcy to file, Chapter 7 or Chapter 13. Let’s take a look at the pros and cons of each. Chapter 7 bankruptcy is […]
Life After Bankruptcy – Simple Steps to Re-establish Credit
So, you have filed for bankruptcy and gone through the process. Now what? How do you move on? First, let go of any guilt and shame. It is time to start over. Bad things happen to good people all the time and you are not alone. A beginning step in starting over is re-establishing your […]
Bankruptcy Alternative Options Now Available
Just about everyone in the United States is carrying around some debt in one form or another. Unfortunately, it seems to have become a way of life. Sometimes that debt can become overwhelming and threaten to take over our entire lives. Bankruptcy may seem like the only option. Bankruptcy is a truly life-altering event; an […]
