Havertown Chapter 7 Bankruptcy Attorney
Havertown Chapter 7 Bankruptcy Attorney
If you want help handling your debt and finances, our Havertown Chapter 7 bankruptcy attorneys can leverage their years of experience to help you through this process. Attorney Michael Alan Siddons understands the state bankruptcy code and will guide you through all the details of chapter 7 bankruptcy.
Learn about Chapter 7 Bankruptcy
Technically, there are six “chapters” to file for bankruptcy in the United States. People frequently use Chapter 7 to file bankruptcy proceedings. Many people choose Chapter 7 bankruptcy because it’s completed relatively quickly and because it generates an “automatic stay” that prevents creditors from collecting funds in many cases.
Compare Chapter 7 and Chapter 13 Bankruptcy
As mentioned above, there are several ways to file for bankruptcy. Chapter 13 bankruptcy is another common way to look for debt relief in Delaware County. Our law firm can help you go over the five significant differences between Chapter 7 and Chapter 13 bankruptcy, as outlined below:
Time to Process a Bankruptcy Claim
Many Chapter 7 bankruptcy claims take place in less than six months. This allows you to seek a fresh start quickly. However, bankruptcy courts take longer to handle Chapter 13 claims. These claims take up to five years in some cases.
Payment Commitments
The bankruptcy code in Pennsylvania requires you to make monthly payments if you file for Chapter 13 bankruptcy. However, you do not have to make a monthly payment with Chapter 7 bankruptcy. This makes it more convenient for many people.
Role of Trustees
Both Chapter 13 bankruptcy and Chapter 7 bankruptcy depend upon trustees. In Chapter 7 bankruptcy, a trustee sells your property to pay creditors. Under Chapter 13 bankruptcy, you make monthly payments to a trustee. The trustee then sends these funds to creditors.
Use of a Repayment Plan
You must file paperwork to apply for either Chapter 7 or Chapter 13 bankruptcy. When filing for Chapter 13 bankruptcy, be aware that you’ll need to complete and submit a repayment plan. You can seek legal aid with this plan from a Havertown Chapter 7 bankruptcy attorney.
Eligibility Requirements
Bankruptcy laws restrict who can and cannot apply for Chapter 7 or Chapter 13 bankruptcy. Your income must be below a certain level to file for Chapter 7 bankruptcy. Chapter 13 limits are based on the amount of unsecured and secured debt that you have.
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Consider Zero Down Chapter 7 Bankruptcy
Law firms that handle Pennsylvania bankruptcy cases often charge up-front fees as well as interest fees. These fees are often hard to handle, especially for people looking for debt relief. Fortunately, you can turn to a Havertown Chapter 7 bankruptcy lawyer for a zero-down Chapter 7 bankruptcy solution.
Attorney Michael Alan Siddons has experience practicing law in Pennsylvania. Zero down chapter 7 bankruptcy services allow you to seek help without making an upfront payment or making interest payments. Instead, you’ll make a monthly payment.
Monthly payments for zero-down bankruptcy start 30 days after a lawyer files your bankruptcy paperwork. This allows you to initiate proceedings before you handle the fees.
You may be eligible for zero-down chapter 7 bankruptcy based on your income, means, and family size. You can begin to assess this option to handle credit card debt and other financial burdens right now.
Debt Covered by Chapter 7 Bankruptcy in Havertown
The United States Bankruptcy Court handles Chapter 7 bankruptcy proceedings in Havertown. Filing for Chapter 7 bankruptcy allows you to seek relief from specific types of debt. The court can set aside your liability to pay certain types of debt, such as:
- Credit card debt
- Medical bills
- Overpayments to Social Security
- Debts for a business
- Personal loans
- Overdue rent
- Overdue utility expenses
However, there are some non-dischargeable forms of debt with Chapter 7 bankruptcy proceedings. You should know that Chapter 7 bankruptcy still requires you to pay for debt associated with:
- Taxes
- Alimony
- Student loans
Chapter 7 bankruptcy will also not remove fines associated with criminal convictions. A Havertown Chapter 7 bankruptcy attorney can provide you with legal advice about your debt relief options.
The Process for Filing for Chapter 7 Bankruptcy
Attorney Michael Alan Siddons can help you apply for Chapter 7 bankruptcy here in Havertown. To file for bankruptcy, you’ll need to file all the correct paperwork and disclose your assets. An experienced lawyer can work to ensure you stay on track with all related deadlines.
Note that the law will protect some of your assets when you file for Chapter 7 bankruptcy. There are exemptions:
- Motor vehicles
- Tools
- Health aides
- Insurance policies
- Jewelry
Some exemptions allow you to keep your home if you can continue making your mortgage payments and your equity is under $23,675. Finally, bankruptcy should not take your unemployment compensation.
Benefits to Working with a Havertown Chapter 7 Bankruptcy Attorney
Filing for Chapter 7 bankruptcy requires legal care. You must file all paperwork accurately and on time. Issues with forms can slow down or stop your proceedings. Fortunately, you do not have to handle Chapter 7 bankruptcy on your own.
Attorney Michael Alan Siddons focuses on helping clients in your situation seek a fresh start here in Delaware County. Let our team provide you with the legal aid you want. Our law firm will walk you through each step of the process, using our familiarity with the bankruptcy code to work hard on your behalf.
You can start focusing on debt relief right now with zero-down chapter 7 bankruptcy. This allows you to begin a Pennsylvania bankruptcy case without paying up-front costs.
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Contact Us for a Free Consultation Right now
You don’t have to file for Chapter 7 bankruptcy on your own in Havertown. Seek legal assistance by contacting the Law Offices of Michael Alan Siddons, Esquire, right now. Our team can review your legal options for handling a bankruptcy proceeding.
Allow us to walk you through the benefits of zero down Chapter 7 bankruptcy. Start working with a Havertown Chapter 7 bankruptcy attorney right now. Just call us at (610) 255-7500 or complete our online contact form to seek a free consultation.