Philadelphia Zero Down Bankruptcy

Philadelphia Zero Down Bankruptcy

When you’re in debt and struggling to recover, it can feel like turning your life (and credit) around is impossible. Filing for bankruptcy is a complicated and lengthy process made even more difficult by the high upfront costs. Isn’t it cruel to expect someone who’s already struggling to pay a sizeable down payment just to file for bankruptcy?


Whether you’re looking for Chapter 13 or Chapter 7 Bankruptcy solutions, it’s essential to have a competent attorney on your side. We offer Philadelphia Zero Down Bankruptcy at Siddons Law Firm to help you find the interest-free, low-stress debt relief solution you’ve been seeking. 

What Is Zero Down Bankruptcy?

While our law firms handle several different practice areas and bankruptcy chapters, we specifically offer our Zero Down Bankruptcy process to help you bring your life back to normal even faster. As the name implies, Philadelphia Zero Down Bankruptcy is a Chapter 7 Bankruptcy plan that requires you to pay $0 upfront.

Usually, the hefty initial fees associated with hiring a bankruptcy attorney can be a significant deterrent, and in some cases, they can put you even further into debt. However, our Zero Down option lets you repay these fees through a unique repayment plan. The plan is interest-free, and the payments you make cover your outstanding court fees as well. This option is convenient and most economical.

In addition, since you’ll be making regular payments, you’ll end up repairing your credit bureau reputation in the process — giving you an excellent jump-start on bringing your life back on track. Since there’s no initial attorney payment, you can file for Chapter 7 Bankruptcy immediately. The first payment is due after thirty days, and you can make your payments weekly or monthly. 

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What Is Chapter 7 Bankruptcy?

Chapter 7 Bankruptcy and Zero Down Bankruptcy don’t necessarily have to go together. If you’d prefer, you can pay all of your legal fees in one lump sum instead. However, the ability to combine these two advantageous processes is part of what makes the process so life-giving for Pennsylvania residents. 


Chapter 7 Bankruptcy is a prevalent form of bankruptcy, partially because it’s intended for those with large amounts of personal debt. Your application for Chapter 7 Bankruptcy will not go through to approval if you have business debt that needs to clear or if you have too much disposable income. 


To qualify for our Zero Down Chapter 7 Bankruptcy in Pennsylvania, you must fulfill three requirements: you must be working, make at least $25,000 per year, and pass the MEANS test. 


Chapter 7 Bankruptcy is unique because it lets you start over financially without starting entirely from scratch. While some of your existing assets will liquidate as part of the repayment process, many of your critical assets, such as your home, car, and possessions, will be exempt. 


After this liquidation, your debts will wipe partially or entirely away, depending on the more intricate details of your case and what the court decides. Of course, our knowledgeable team of Philadelphia Zero Down Bankruptcy attorneys will do everything we can to help you reach a favorable outcome. 

The MEANS Test

The MEANS test is an exam that helps determine whether you fall above or below the median annual income of Pennsylvania residents. The lower your annual income is (while still being above our $25,000 requirement), the more likely you will see approval. However, even if you make significantly more money annually than the average Pennsylvanian, you can still be approved if your monthly disposable income is low.

Your “disposable income” is an integral part of the MEANS test, and it involves subtracting your living expenses (or “allowable expenses”) from your monthly income. Generally, things like groceries, medical bills, rent, utility bills, and other non-negotiable costs are considered allowable expenses

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Filing for Zero Down Chapter 7 Bankruptcy

If you’re at all familiar with the bankruptcy process, you know that filing is neither easy nor fast. Even the MEANS test alone requires a significant amount of paperwork, and that’s in addition to the test itself. However, our team will be right there with you every step of the way to help you navigate the process. 


If you pass the MEANS test and fit our other criteria, you’ll automatically be eligible for our Zero Down Chapter 7 Bankruptcy plan. However, keep in mind that different law offices tend to hold additional requirements for Zero Down plans, so even if you qualify for ours, you may not be eligible at another office. 

Why Zero Down Chapter 7 Bankruptcy?

When you consider the benefits of applying for bankruptcy versus the downsides, it becomes clear why we offer this kind of plan to our neighbors in Pennsylvania. While filing for bankruptcy still holds some stigma, it’s much more acceptable (and helpful) today than it has been in previous years. 

Additionally, debt is not a forgiving thing, especially if yours is subject to high-interest rates. When you have so much debt that it accrues interest almost as fast as you pay it off, it can feel like your situation is hopeless. However, that’s why the attorneys at Siddons Law Firm are here to help. 

While you might think that a law firm would prefer to receive a lump sum for bankruptcy services, we care about our fellow Pennsylvanians at Siddons Law. We want to see you succeed because by helping our neighbors succeed, we work to improve Pennsylvania as a whole. When one of our clients is seeking debt relief through bankruptcy, we know that they are already under enough monetary stress without adding upfront legal fees to that. 

What’s stopping you from turning your finances (and your life) around with Zero Down Chapter 7 Bankruptcy? The sooner you apply, the sooner you can purge your existing debt and start raising your credit score. If you’re ready to begin the application process, contact our Philadelphia Zero Down Bankruptcy attorneys today by calling us at (610) 255-7500 or leaving a message on our website.