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On Behalf of Newman Williams, P.C. | Apr 28, 2023 | Bankruptcy Law
According to records maintained by United States Courts, 413,616 people from Pennsylvania and around the country filed bankruptcy in 2021. Bankruptcy is a way for individuals and business entities to petition state courts for relief from debt they are unable to pay....
On Behalf of Newman Williams, P.C. | Mar 15, 2023 | Bankruptcy Law
Financial problems can happen to anyone. Recovering from these problems is what matters most. One option Pennsylvania residents have when dealing with a financial crisis is to file for Chapter 13 bankruptcy protection. Chapter 13 protection will allow you to...
On Behalf of Newman Williams, P.C. | Mar 1, 2023 | Bankruptcy Law
When a consumer files for bankruptcy, Chapter 7 and Chapter 13 are the main options. Chapter 7 involves liquidating assets to cover creditor claims, but many people do not qualify for this category. Some might not even prefer it. Chapter 13 becomes the bankruptcy...
On Behalf of Newman Williams, P.C. | Feb 7, 2023 | Bankruptcy Law
Pennsylvania residents who file Chapter 13 bankruptcy petitions submit plans to the court that detail how they plan to repay their creditors over a three-to-five-year period. Before their payment plans are approved, their creditors are given a chance to review and...
On Behalf of Newman Williams, P.C. | Jan 16, 2023 | Bankruptcy Law
Individuals in Pennsylvania and around the country who file personal bankruptcies stop making payments on the accounts listed in their Chapter 7 and Chapter 13 petitions, but that does not mean these accounts are removed from their credit reports. Experian, Equifax...
On Behalf of Newman Williams, P.C. | Oct 7, 2022 | Bankruptcy Law
Individuals filing for bankruptcy in Pennsylvania have three choices: Chapter 7, Chapter 11 and Chapter 13. When filing for Chapter 13, the debtor makes a monthly payment to a trustee for three to five years, who, in turn, will distribute it to three to five creditors...
On Behalf of Newman Williams, P.C. | Sep 9, 2022 | Bankruptcy Law
One of the benefits of filing for Chapter 13 bankruptcy in Pennsylvania is that certain debts can be wiped out. This can provide much-needed relief to debtors struggling to make ends meet. But, not all debts can be discharged; the debtor must repay them regardless of...
On Behalf of Newman Williams, P.C. | Mar 21, 2022 | Bankruptcy Law
Bankruptcy may be an ideal way to reduce or eliminate debts without necessarily giving up property such as a Pennsylvania home. It's also worth noting that your credit score may also go up after filing depending on your circumstances prior to doing so. Let's take a...
On Behalf of Newman Williams, P.C. | Mar 7, 2022 | Bankruptcy Law
A bankruptcy is not an obstacle to everyone who wants to recover financially. Refinancing a home loan allows you to continue receiving benefits. Refinancing gives you several opportunities to regain your financial responsibility in Pennsylvania. There are several...
On Behalf of Newman Williams, P.C. | Feb 4, 2022 | Bankruptcy Law
Chapter 13 bankruptcy is also known as a wage earner's plan because it helps you develop a repayment plan for your debt if you have a regular income. Your bankruptcy can last between three and five years depending on your income, and creditors are legally forbidden...
