Experiencing financial difficulties can disrupt lives, causing immense stress and uncertainty. However, filing for bankruptcy, particularly Chapter 7, can eliminate debt while safeguarding your hard-earned assets. If you are contemplating this route in Pennsylvania, WPH Law's team of experienced bankruptcy attorneys is here to offer compassionate support and guidance.
Navigating Chapter 7 bankruptcy can be overwhelming on your own. But, with our dedicated legal team by your side, you can feel confident in facing the process head-on. We understand that every financial situation is unique, so we take the time to listen to your concerns, assess your circumstances, and develop personalized strategies tailored to your needs.
Our attorneys will walk you through each bankruptcy process step, explaining your rights, responsibilities, and options along the way. Whether you're unsure if Chapter 7 is the right choice or have questions about how it will impact your assets, we provide the information and support you need to make well-informed decisions about your financial future.
A Chapter 7 Bankruptcy Petition allows a debtor to "discharge," or eliminate, most – if not all – of their unsecured debts. A bankruptcy reduces balances to zero for certain debts owed, like credit cards, unsecured personal loans, and back utility bills. You may have heard this described as a "fresh start," and in many cases, it could be precisely that. Filing for a Petition for Bankruptcy is a complex process, and you'll want a skilled attorney at the helm to assist you.
No case is too challenging for our experienced bankruptcy attorneys at WPH Law. Our bankruptcy lawyers have helped countless clients across Pennsylvania reclaim their financial well-being and restore their lives. As our client, you are more than a number to us. We vow to put you first and treat your bankruptcy case like we would our own, helping erase your debt and protect your most important assets.
Chapter 7 Bankruptcy can stop almost all creditors in their tracks. This is due to the “Automatic Stay” that begins the moment you file your petition. Essentially, when you file for Bankruptcy, a creditor must immediately cease all attempts to collect money from you. This includes calling your phone, filing a lawsuit, continuing a lawsuit already filed or executing on a judgment. It can even stop a foreclosure or a vehicle repossession, at least temporarily.
If you are seriously in debt and you feel creditors closing in, don’t wait to call. We can put you on the path to a fresh start.
Filing for bankruptcy can be a complex legal process. If you're considering filing for Chapter 7 bankruptcy in Pennsylvania, it's essential to understand the steps involved.
Remember, bankruptcy laws can be complex, so it's essential to approach the process with care and diligence. Speak for free with a well-versed attorney in Chapter 7 bankruptcy at WPH Law today.
Chapter 7 bankruptcy may be suitable for individuals under certain circumstances. Before deciding whether filing Chapter 7 bankruptcy is right for you, ask yourself these questions:
Deciding whether to file for Chapter 7 bankruptcy is a significant decision that requires careful consideration of your financial situation and what you’re willing to give up to pay your debts. Certain kinds of property are exempt in almost every state, while others are rarely exempt. The following are items you can typically keep (exempt property) when filing for bankruptcy:
Items you must typically give up (nonexempt property) include:
Navigating Chapter 7 Bankruptcy involves a series of critical steps that are vital to understand for a smooth process:
Understanding these fundamental steps and having the guidance of a knowledgeable legal team can significantly alleviate the complexities of Chapter 7 Bankruptcy, paving the way for a more stable financial future. Contact the bankruptcy lawyers at WPH Law for help today.
It’s important to note that not all employers and hiring processes are created equal; whether or not bankruptcy makes it harder to find employment may depend on what kind of employer you seek a job with. For example, federal, state, or local government agencies cannot legally consider your bankruptcy when hiring. However, private employers do not need to abide by this rule, and some applicants believe filing for bankruptcy negatively impacts their job search.
Yes, bankruptcy filings are public records. This means anyone can access information about your bankruptcy case through court records. However, the extent of the information available to the public may vary depending on the type of bankruptcy and specific court procedures.
Filing for Chapter 7 bankruptcy as an individual typically does not directly affect your spouse's credit or financial obligations. However, if you have joint debts with your spouse, they may still be responsible for those debts after your bankruptcy discharge. Consulting with a Lancaster bankruptcy attorney from WPH Law can help you understand how your filing may impact your spouse's financial situation.
Chapter 7 bankruptcy can discharge many unsecured debts, including credit card debt, medical bills, and personal loans. However, certain debts, such as student loans, child support, alimony, and tax debts, are not dischargeable. Consulting with a bankruptcy attorney can help you understand which debts may be discharged.
While Chapter 7 bankruptcies are generally straightforward, they can be denied under certain circumstances. Common reasons for denial include failure to meet eligibility requirements, fraudulent activity, or failure to comply with court orders. Working with an experienced bankruptcy attorney can help you navigate the process and minimize the risk of denial.
Chapter 7 and Chapter 13 bankruptcy are two types of bankruptcy filings available to individuals and businesses in the United States, each with distinct features. Understanding the differences between Chapter 7 and Chapter 13 bankruptcy can help determine which option best suits your financial circumstances.
Also known as "liquidation" bankruptcy, Chapter 7 Bankruptcy is typically suitable for individuals or businesses with limited income and substantial unsecured debts. Chapter 7 appoints a bankruptcy trustee to liquidate non-exempt assets to repay creditors. However, many assets are often protected by state or federal law exemptions. Most unsecured debts, such as credit card debt and medical bills, can be discharged (eliminated) through Chapter 7 bankruptcy, giving the debtor a fresh financial start. Chapter 7 bankruptcy proceedings typically last several months, after which the debtor receives a discharge of eligible debts.
Also known as "reorganization" bankruptcy or "wage earner's plan,” Chapter 13 Bankruptcy is designed for individuals with a regular income who can repay a portion of their debts over time through a court-approved repayment plan. Under Chapter 13, the debtor proposes a repayment plan to the court, outlining how they will repay creditors over three to five years. The plan is based on the debtor's income and expenses, with any disposable income allocated towards debt repayment. Unlike Chapter 7, Chapter 13 allows debtors to keep their property and catch up on missed mortgage or car payments through the repayment plan, making it a valuable option for individuals facing foreclosure or repossession. Chapter 13 can also provide relief for debtors with non-dischargeable debts, such as certain tax debts or overdue child support payments, by allowing them to repay these debts over time while maintaining essential assets. Upon successful completion of the repayment plan, remaining eligible debts may be discharged, providing the debtor with a fresh financial start.
In summary, Chapter 7 bankruptcy involves liquidating assets to discharge eligible debts. In contrast, Chapter 13 bankruptcy allows individuals with regular incomes to repay a portion of their debts through a court-approved repayment plan while retaining their assets. The choice between Chapter 7 and Chapter 13 depends on the debtor's financial situation, income, and goals for debt resolution.
You are not alone if you're facing financial difficulties and considering bankruptcy. Weekly Reports by LancasterOnline show people just like you in Lancaster County for bankruptcy every week. Remember, there is no shame in accepting the help you need to effectively wipe out debt and get your finances back on track.
At WPH Law, we understand that facing financial challenges can be overwhelming, and navigating the complexities of bankruptcy law can feel daunting. That's why our dedicated team is committed to providing comprehensive assistance tailored to your unique situation. Whether you're considering Chapter 7 bankruptcy to obtain a fresh start or need support with a different legal matter impacting your finances, we're here to offer compassionate guidance every step of the way.
Beyond legal representation, we strive to empower individuals and families by providing them with the resources and support they need to make informed decisions about their financial future. We recognize that every situation is different, so we take the time to listen to your concerns, address your questions, and collaborate with you to devise effective solutions that align with your goals.
By choosing WPH Law, you're not just hiring a legal team—you're gaining a trusted partner dedicated to advocating for your interests and guiding you toward a brighter financial future. Take the first step today by contacting us to schedule a consultation. Let us help you navigate the path ahead with confidence and peace of mind.
We handle cases throughout Pennsylvania and New Jersey, if you need an experienced attorney, contact us and tell us about your case.
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