Chapter 13 Bankruptcy In Pennsylvania
Chapter 13 Can Help You Work Through Serious Debt Problems
Thousands of Pennsylvania families benefit from Chapter 13 debt relief. If you can perform on your monthly payments over a period of three to five years, you can achieve a discharge of unsecured debts, the cure of mortgage and car loan arrearages, and make substantial progress on any non-dischargeable tax or student loan debts. In the meantime, you'll enjoy bankruptcy court protection from collection efforts on the part of your creditors.
Urgent questions about Chapter 13? Call Scaringi Law at (717) 775-7195 to schedule a case evaluation.
If you need to consider bankruptcy for relief from overwhelming debt pressure, discuss your situation with an attorney who understands both the big picture and the details in consumer finance and bankruptcy. Contact Scaringi Law, in Harrisburg or Newport for additional information.
There are important differences between Chapter 7 and Chapter 13 bankruptcy cases, and all things being equal, most people would prefer to be in Chapter 7 if they could. The typical Chapter 7 case rarely takes more than six months, while Chapter 13 goes on for several years. General unsecured debts (unless excepted from discharge by federal law) are completely forgiven in Chapter 7, but you have to repay at least a token portion of them over time through your monthly Chapter 13 payments.
Nevertheless, Chapter 13 represents a valuable debt relief option for most families, and for many people, it's the only bankruptcy alternative available.
Chapter 13 might even be your best choice in many situations:
- You received a Chapter 7 discharge within the past eight years
- You'll need more than a few months to catch up with past-due taxes, mortgage payments or car loan installments
- Some of your most pressing debts, such as student loans, are not dischargeable under any chapter of the Bankruptcy Code
- You have significant personal assets that would be subject to liquidation in a Chapter 7 case
- Your small business is in Chapter 7, but you need protection from collection of personal guarantees
As long as you have a regular income, Chapter 13 can result in the same protection and eventual discharge that you would otherwise receive in Chapter 7. To learn about the pros and cons of a Chapter 13 bankruptcy filing in your situation, contact Scaringi Law today, for the advice of a knowledgeable lawyer.