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...
How Much Will My Chapter 13 Plan Payment Be?
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...
Nondischargeable debts in Chapter 13 bankruptcy in Pennsylvania
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...
When is the right time to pursue bankruptcy?
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...
The effects of refinancing after bankruptcy
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...
Chapter 13 bankruptcy basics
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...
The Chapter 13 repayment plan
A repayment plan through a Chapter 13 bankruptcy is a way to start clearing debt for consumers in Pennsylvania. Bankruptcy helps people get out from under considerable debt, but not all filings allow them to keep important assets. What's a Chapter 13 repayment plan?...
Why Chapter 13 bankruptcy cases fail
Consumers in Pennsylvania can choose from several kinds of bankruptcy when they see no other way out of debt. If they are serious about paying debt, they could qualify for Chapter 13. This type of bankruptcy allows consumers to repay debts over time, but cases fail...
How Chapter 13 bankruptcy affects your car
Falling into debt is something that can happen to anyone if they're not careful. When an individual has debts that they're making a genuine effort to pay off but they still need help, there's Chapter 13 bankruptcy. Also known as a repayment bankruptcy, this is a...
An overview of Chapter 13 bankruptcy
Consumers in Stroudsburg, Pennsylvania, may consider bankruptcy to help relieve overwhelming debt. Chapter 13 bankruptcy is a solution for consumers who have a desire to pay their debts. This type of bankruptcy has several benefits. How Chapter 13 bankruptcy works...