ZERO DOWN BANKRUPTCY ATTORNEYS
LEARN MORE ABOUT ZERO DOWN CHAPTER 7 BANKRUPTCY IN MEDIA, PA; RISING SUN, MD & STATEN ISLAND, NY
What’s more frustrating than having to pay more to get out of debt? Instead of struggling to find the funds to file for bankruptcy, turn to us. The Law Offices of Michael Alan Siddons, Esquire offers zero down Chapter 7 bankruptcy filing in Media, PA; Rising Sun, MD & Staten Island, NY surrounding areas.
Guide Lines For ZERO DOWN Bankruptcy
SEE HOW YOU CAN FILE ZERO CHAPTER 7 BANKRUPTCY IN PENNSYLVANIA NOW AND PAY LATER
- Employed – full or part time
- Make at least $25,000 annual gross income
- Passed the MEANS test
Zero Down Chapter 7 Bankruptcy
Chapter 7 Bankruptcy is quite useful: Pennsylvania residents file for Chapter 7 Bankruptcy more often than any other type of bankruptcy, including Chapter 11. When you successfully file for Chapter 7 Bankruptcy in Pennsylvania, you liquidate all your non-exempt assets. The sale of these assets is then used to pay off your creditors. After these payments are made, most (and potentially all) of your remaining debts are discharged, leaving you free from your financial obligation to your creditors. Note that this does not mean that you have to lose your home, your car, and everything you own. Chapter 7 Bankruptcy is a legitimate way for you to take charge of your finances and start over, debt-free.
Paying For Chapter 7 Bankruptcy
One of the biggest hurdles preventing Pennsylvania residents from filing for Chapter 7 Bankruptcy is the upfront attorney’s fees. Most law firms in Pennsylvania will charge a fee to begin the Chapter 7 Bankruptcy filing process. Of course, attorneys charge upfront fees on many services, but with a Chapter 7 Bankruptcy filing, this fee is more difficult to pay. That is because most Pennsylvanians who choose to file Chapter 7 Bankruptcy choose to do so because they have been backed into a corner financially: they simply can’t afford additional bills on top of what they already owe. Unfortunately, many Pennsylvanians deal with this predicament by either attempting to file for bankruptcy themselves or by hiring an unlicensed bankruptcy “preparer.” Both of these “solutions” reduce the chances of a successful bankruptcy filing.
But here is a better way: Zero Down Bankruptcy. This option allows you to file for Chapter 7 Bankruptcy without being hit by huge upfront fees.
How Does Zero Down Bankruptcy Work?
As the name implies, Zero Down Bankruptcy can be filed with no upfront payment. Better still, Zero Down Bankruptcy can be filed without interest payments as well. With Zero Down Bankruptcy, you set up a monthly payment plan, with payments beginning 30 days after you have filed. These payments will even be applied to your court fees. There are several distinct advantages to setting up a payment plan:
- You can begin the filing process immediately, without having to pay attorney’s fees first.
- Since you have successfully filed for Chapter 7 Bankruptcy, you will presumably have some available to make your first payment.
- The installment payments are affordable and easy to manage.
Zero Down Bankruptcy provides Pennsylvanians with a quicker path to financial freedom. Here in Pennsylvania, firms like Siddons Law provide Zero Down Bankruptcy services for their clients.
The Bankruptcy Means Test
Through the bankruptcy means test, the court looks at 3 things to determine if you are eligible for Chapter 7 Bankruptcy:
- Your Income
- Your Expenses
- Your Family Size
It should be pointed out that the means test is primarily designed for people who have consumer debts (e.g. medical debt or credit card debt), not for business owners whose debt primarily stems from their business. It should also be pointed out that, while the test can be confusing and requires a lot of paperwork, your attorney at Siddons Law will guide you through the process. Regarding your income, the test is used to determine if your income is below the median income in Pennsylvania. If it is, you can generally file for Chapter 7 Bankruptcy in Pennsylvania.
But let’s say your income exceeds the median income in Pennsylvania—there is a second portion of the means test that may allow you to file for Chapter 7 Bankruptcy. This portion of the test looks at your expenses. With the help of your bankruptcy attorney, you will add up all of your living expenses (referred to in bankruptcy court as “allowable expenses”).
Allowable expenses include things like rent, medical expenses, and groceries. Your bankruptcy attorney at Siddons Law will be able to advise you on which of your expenses are allowable. This is where having an experienced attorney is crucial, as a mistake or misunderstanding on this portion of the means test could result in your case being thrown out. The money you have left after these allowable expenses are totaled is your “disposable income.” If this amount is low enough, you may qualify for Chapter 7 Bankruptcy in Pennsylvania.
If you pass the means test and meet the income and employment requirements, you can pursue Zero Down Bankruptcy. Zero Down Bankruptcy is a great deal, one that provides you with an incredible opportunity–so much so that you might be tempted to think that Zero Down Bankruptcy is “too good to be true.” You can rest assured, however, that this is not the case: as recently as 2019, Clifford J. White III — director of the United States Trustee Program — endorsed Zero Down Bankruptcy.
White commended the process in a recent United States Bankruptcy Court decision approving bifurcation and collection of post-petition fees. In the case in question, a local U.S. Trustee objected to an attorney’s use of bifurcation (the process of separating a case or legal proceeding into discrete parts) to offer $0 down and post-petition payment of the fees and costs associated with the bankruptcy filing. The court, disagreeing, allowed the bifurcation and collection of $2,400 in post-petition costs and fees. This ruling, and White’s validation of it, confirms the legitimacy of Zero Down Bankruptcy in Pennsylvania.
QUESTIONS? CONTACT OUR ZERO DOWN BANKRUPTCY ATTORNEYS
- Owe no upfront money and no interest payments
- Make weekly or monthly payments starting 30 days after filing
- Pay no additional court fees-everything is included
HEAD U.S. TRUSTEE ENDORSES ZERO DOWN BANKRUPTCY
On August 23, 2019, Clifford J. White III, Director of the United States Trustee Program in Washington D.C., commended the analysis in a recent $0-down Chapter 7 case that approved bifurcation and collection of post-petition fees stating that the four-part analysis in the case is instructive to local US Trustee Programs and practicing attorneys.
In re Hazlett, 2019 WL 1567751 (Bankr. D. Utah April 10, 2019), the local UST objected to an attorney’s use of bifurcation to offer $0-down and post-petition payment of fees and costs. The Court disagreed and approved the bifurcation and collection of $2,400 in post-petition fees and costs. Now, the Director of the UST Program in Washington D.C. has adopted the analysis in Hazlett and stated it is “instructive to the [US Trustee Program] and should be instructive to the bar as well.” From the US Department of Justice website:
“In the District of Utah, the bankruptcy court handed down a decision in In re Hazlett, 2019 WL 1567751 (Bankr. D. Utah April 10, 2019). I commend that opinion to your attention because the careful reasoning of the court actually highlights the factors we look for and which are almost always absent in the cases we bring.
In the Hazlett case, the court upheld the bifurcated fee because it found that four essential elements were present: (1) the lawyer’s dealings with the client were based on the client’s best interests; (2) all fees charged for post-petition services were reasonable and did not include fees for pre-petition services; (3) the arrangement was fully disclosed in the lawyer’s Rule 2016(b) statement; and (4) the lawyer complied with local rules governing substitution or withdrawal. Moreover, in the context of factoring, the court found that the fees charged to the client were reasonable on a lodestar basis and did not reflect a markup to offset the premium charged to the lawyer by the financing company.
Although one may argue over the findings of fact made by the judge, or the propriety of debtors’ lawyers contracting with a factoring agency under any circumstances, the court’s opinion provides an important four-part analysis in assessing bifurcation practices. It is instructive to the USTP and should be instructive to the bar as well.”
Clifford J. White, Director of the US Trustee Program, Washington D.C. 2019 Annual Conference of the National Association of Bankruptcy Trustees Denver, CO – Friday, August 23, 2019 https://www.justice.gov/ust/speech/remarks-director-cliff-white-2019-annual-conference-nationalassociation-bankruptcy
Why Would A Pennsylvania Bankruptcy Attorney Offer Zero Down Bankruptcy?
One question that many Pennsylvanians have regarding Zero Down Bankruptcy is, “Why would a local attorney even offer such a deal in the first place? After all, don’t most attorneys prefer to have their money up front?” To answer this question, yes, most attorneys do prefer to have their money upfront in bankruptcy cases. That said, there are several reasons that Pennsylvania law firms like Siddons Law choose to make exceptions to this rule.
We choose to offer Zero Down Bankruptcy because we care about struggling Pennsylvanians. We hate to see people miss out on the opportunity to turn their finances around simply because they cannot afford upfront legal costs.
A compassionate lawyer knows that their clients are in dire straits when they seek bankruptcy help; the last thing they want to do is add to that financial burden.
Finding The Right Zero Down Bankruptcy Attorney In Pennsylvania
When it comes to bankruptcy filing in Pennsylvania, the stakes are high: freedom from financial burdens vs. a mountain of debt that may never fully be paid off. This is why you should turn to an experienced, reliable attorney for Zero Down Bankruptcy services in Pennsylvania. Ideally, you will want an attorney who has successfully handled hundreds of Chapter 7 Bankruptcy cases.
You will also want an attorney that puts their clients first, as customer service is every bit as legal knowledge when it comes to bankruptcy cases. This is an involved process that will require a lot of back-and-forth between you and your lawyer. You need to find an attorney who is good about communicating with you–one who will help you through every step of the process.
CONTACT OUR ZERO DOWN BANKRUPTCY ATTORNEYS IN PENNSYLVANIA
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COUNTIES WE SERVICE
Maryland – Caroline, Cecil, Dorchester, Hartford, Kent, Queen Anne’s, Somerset, Talbot, Wicomico, Worcester.
New Jersey – Burlington, Camden, Gloucester, Mercer, Salem.
New York – Brooklyn, Richmond, Staten Island.
Pennsylvania – Berks, Bucks, Chester, Delaware, Lancaster, Lehigh, Montgomery, Northhampton, Philadelphia, York