Bankruptcy Lawyer in Pittsburgh
Do You Need A Bankruptcy Attorney?
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If you answered YES, to any of these questions, you need a Bankruptcy Attorney
Pittsburgh’s Bankruptcy Solution.
Learn How to Get control of your Chapter 7 Bankruptcy or Chapter 13 Bankruptcy filing.
Chapter 13 Bankruptcy -A chapter 13 bankruptcy is also called a wage earner’s plan. It enables individuals with regular income to develop a plan to repay all or part of their debts. Under this chapter, debtors propose a repayment plan to make installments to creditors over three to five years. If the debtor’s current monthly income is less than the applicable state median, the plan will be for three years unless the court approves a longer period “for cause.” If the debtor’s current monthly income is greater than the applicable state median, the plan generally must be for five years. In no case may a plan provide for payments over a period longer than five years. 11 U.S.C. §1322(d). During this time the law forbids creditors from starting or continuing collection efforts.
Chapter 7 Bankruptcy - A chapter 7 bankruptcy case does not involve the filing of a plan of repayment as in chapter 13. Instead, the bankruptcy trustee gathers and sells the debtor’s nonexempt assets and uses the proceeds of such assets to pay holders of claims (creditors) in accordance with the provisions of the Bankruptcy Code. Part of the debtor’s property may be subject to liens and mortgages that pledge the property to other creditors. In addition, the Bankruptcy Code will allow the debtor to keep certain “exempt” property; but a trustee will liquidate the debtor’s remaining assets. Accordingly, potential debtors should realize that the filing of a petition under chapter 7 may result in the loss of property.
Under 11 USC Sec. 528: We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
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Free Bankruptcy Insider Podcast
Chapter 7 Bankruptcy-Episode22 The Ins And Outs of Chapter 7. Listen to an experienced 1-2-3 Law bankruptcy attorney talk about the ins and outs of a Chapter 7 Bankruptcy Filing. If you are an individual and not a company, and have fallen behind in your debt payments and can’t catch up or maybe you can not make your mortgage payments, then a Chapter 7 Bankruptcy filing might make sense for you. A Chapter 7 Bankruptcy filing acts to wipe clean many of your debt obligations. However, there are requirements you must meet before you can qualify to file in Chapter 7. Listen to this show to help decide if a Chapter 7 Bankruptcy filing makes sense for you to consider. Recorded live on Feb. 1, 2008 at 1PM.
Chapter 13 Bankruptcy-Episode 23 The Ins and Outs of a Chapter 13 Bankruptcy Filing. Listen to a 1-2-3 Law Group attorney who is experienced in bankruptcy filings discuss the ins and outs of Chapter 13 Bankruptcy Filings. If you are an individual instead of a company, and make too much income or have too many assets to qualify for a Chapter 7 Bankruptcy filing, then a payment plan under Bankruptcy Chapter 13 might make sense for you to buy some time to get your financial house in order. Listen to this show to find out more about filing bankruptcy. Recorded Live on Feb. 1st, 2008 at 1:45PM.