12 Nov 2020

How Bankruptcy Can Clear Credit Card Debt

You’ve probably heard that you can get rid of your credit card debt by filing for bankruptcy. This is true, for the honest but unfortunate debtor.

Overwhelming credit card debt is one of the top three reasons people file bankruptcy, the others being job loss and medical debt. But there is more to bankruptcy than just listing your creditors and paying a filing fee. Let a prominent bankruptcy lawyer in Philadelphia tell you how you can navigate the bankruptcy process to successfully clear credit card debt and get a fresh start.

clear credit card debt

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30 Jul 2020

Exploring Bankruptcy Alternatives During the Pandemic

Many of us are out of work and suffering financially due to the pandemic. While the federal CARES Act has helped somewhat by extending and expanding unemployment benefits, providing payroll protection loans to small businesses, initiating forbearance on foreclosures and on making certain mortgage payments, and initiating a period of forbearance on student loans, all of this help is set to expire very soon.

What are you going to do? Don’t panic. This guide will provide you with actionable steps you can take to survive financially during these unprecedented times, and perhaps avoid ultimately filing Chapter 7 or Chapter 13 bankruptcy.

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05 Feb 2020

Improving Credit After Bankruptcy

So you’ve decided to file a bankruptcy petition but are concerned about how it will influence your credit score. Here’s what happens to your credit after bankruptcy, and what you can do about it.

You should also consider what NOT filing will do to your credit.  If you are behind on bills due to divorce, medical catastrophe, or job loss, your credit score has already taken a hit due to delinquent accounts. You might be facing foreclosure or car repossession, and these also affect your credit negatively. It may just be that the credit ramifications of NOT filing bankruptcy are more severe and long-lasting than filing bankruptcy, resolving your financial issues, and getting a fresh start. 

The fact that you filed a personal bankruptcy case can remain on your credit report for up to ten (10) years.  That being said, the type of bankruptcy you filed, why you filed bankruptcy, whether you completed your Chapter 13 plan, and whether you received a discharge will all factor into your credit score, as will your post-bankruptcy financial behavior.

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08 Jan 2020

Chapter 7 vs. Chapter 13 Bankruptcy: What’s The Difference?

We all go through money troubles at some point in our lives, but none of them is as daunting as intimidating as going bankrupt. But despite the negative connotation often associated with it, declaring bankruptcy offers individuals and businesses a way out of financial difficulty. types of bankruptcy, chapter 7 bankruptcy vs chapter 13

Most people who file for bankruptcy have one common goal – to receive possible debt relief. What many aren’t aware of, however, is that there are different types of bankruptcy. As for personal bankruptcy programs, they are usually filed either under Chapter 7 or Chapter 13 bankruptcy.

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03 Dec 2019

5 Questions to Ask Before Hiring a Bankruptcy Lawyer

We all go through some form of financial difficulty at some point in our lives, but none of them will ever be as scary or daunting as finding oneself face to face with bankruptcy. hiring a bankruptcy lawyer

Filing for bankruptcy and going through the entire process can be one of the most stressful experiences of your life. And nobody deserves to go through such an enormous and distressing financial crisis alone. To make sure that you’ll be able to handle the situation and everything else that comes with it, you’ll need an experienced bankruptcy lawyer for guidance and representation in court.

Just in case you’re looking to hire an attorney to help you with your bankruptcy case, we’ve compiled five of the most important questions to ask potential bankruptcy lawyers before you hire any of them. 

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09 Oct 2019

When to File for Personal Bankruptcy and Why

Thanks to bankruptcy laws, people and businesses who have experienced tragic financial collapse can start over with a clean slate. By filing for bankruptcy, these entities may be relieved of their past debts, so they can have the opportunity to reorganize their finances sans the harrowing pressure from creditors and debt collection agencies. when to file for personal bankruptcy

 

But as appealing as a clean financial slate can be, this is not to say that filing for bankruptcy is void of any downsides and consequences. Bankruptcy can have a significant impact on your credit reputation, so you better look at all sides properly before deciding to sign your debts away. And thus, begs the question: When to file for personal bankruptcy, and why should I do it?
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23 Apr 2019

Working the NACBA Crowd: 5 Networking Tips for Bankruptcy Attorneys

With the annual NACBA Convention just around the corner, are you prepared to make important connections? 

Creating a strong network can help you and your bankruptcy firm improve your business, provide great resources, and strengthen your abilities as a lawyer. You might even find a mentor, great partner, or future employer through your networking. But to get the most out of your networking efforts, you’ll need to put your best foot forward. (more…)

01 Oct 2018

The Unique Client Attorney Relationship in Bankruptcy

Bankruptcy clients are often surprised to find out how personal their relationship with their bankruptcy attorney becomes over the course of the representation. While the end goal of bankruptcy is to receive a discharge of debt, the journey to that goal requires full disclosure on the part of the client, and some empathy on the part of the attorney. (more…)

28 Sep 2018

Blogging for Your Bankruptcy Practice

It has been reported that companies that blog get 55% more website visitors. Even better, blogging also results in 88% more leads than companies that don’t. So how does that sound to you – getting 88% more leads and potential clients each month? Whether you run a small bankruptcy practice or a large firm, chances are you are constantly seeking to help new clients in financial distress.

As you know, along with the bankruptcy process comes many legal complexities that most consumers are not familiar with. As a bankruptcy attorney you have the answers, so what better way to earn people’s trust and build thought leadership than to answer their frequently asked questions through the World Wide Web. The perfect platform? Your website’s blog. (more…)