Blog Posts - Bankruptcy
How Long Will Bankruptcy Stay on My Credit Report in Pennsylvania?
Having a large amount of debt can negatively impact your FICO score, making it difficult to be approved for a mortgage, car loan, or open a line of credit. While filing for bankruptcy can help you start fresh or pay off your debts in a manageable time frame, it will...
Can I Keep My Home or Car if I File for Bankruptcy in Pennsylvania?
Bankruptcy in Pennsylvania can be a daunting process, and many people worry about losing important assets like residences or vehicles. However, you may be able to keep certain assets during and after your bankruptcy. It makes sense to learn more about bankruptcy before you completely dismiss this possibility – and...
Will Bankruptcy Discharge All of My Debts in Pennsylvania?
In 2023, bankruptcy filings totaled 452,990, an increase of 16.8 percent from the year prior. Typically seen as a way to start anew, bankruptcy may be the answer you have been searching for to climb your way of debt. However, not all debts are dischargeable, which can impact your decision....
How Much Does It Cost to File for Bankruptcy in Pennsylvania?
The total cost to file for bankruptcy in Pennsylvania can vary widely based on several factors. These typically include your financial circumstances, whether you have a simple or complex case, administrative fees, and lawyer fees. While you must spend money to file for bankruptcy, it can provide much-needed relief from...
Can I File For Bankruptcy If I am Behind on Mortgage Payments or Car Loans?
Yes. You can file for bankruptcy if you are behind on your mortgage payments or car loans. It’s perfectly normal to feel overwhelmed and confused when you are struggling with auto loans or mortgage payments. It’s also normal to wonder whether filing for bankruptcy can help you resolve your financial...
What Happens to My Credit Cards if I File for Bankruptcy in Pennsylvania?
People who file for bankruptcy often have overwhelming credit card debt, making bankruptcy an attractive option to start anew. Whereas individuals are allowed to file either Chapter 7 or Chapter 13 bankruptcy, both options typically result in any open credit cards being canceled. If there is an outstanding balance on...
How Long Does the Bankruptcy Process Take in Pennsylvania?
Filing for bankruptcy can allow you to discharge certain debts or restructure your debt. In Pennsylvania, individuals have the option to file for either Chapter 7 or Chapter 13 bankruptcy. The timeline for each varies drastically, with the Chapter 7 process taking four to six months and the Chapter 13...