When Should You File For Bankruptcy ?

https://ift.tt/eA8V8J Some of the questions you will likely ask yourself before deciding to file bankruptcy include: How much do you owe on your credit cards and are you only making minimum payments? Are you using credit cards wisely or using them to pay for necessities? Do you feel like your finances are out of your […]

Can I Keep My Tax Refund After Filing Chapter 7?

https://ift.tt/eA8V8J Your tax refund is based on money that you’ve over-paid in taxes throughout the course of the calendar year. As you reach the end of the year, you’d like to get as much of that money back as possible. Unfortunately, if you’ve filed for bankruptcy, you may find yourself wondering if you can keep […]

The Three Main Types Of Consumer Debt

https://ift.tt/eA8V8J Americans are drowning in debt. In November 2019, American consumer debt climbed to $4.17 trillion. That’s trillion with a T–twelve zeros. Chances are pretty good that you’re one of those Americans, with credit cards, a mortgage, and a car payment or two. And that’s okay–in lots of ways, debt is good for our economy. […]

What Assets Can You Keep in Chapter 7 Bankruptcy?

https://ift.tt/eA8V8J Financial pressure can sometimes take a toll on daily life. When you can’t get a handle on your finances, starting over may be necessary to reach the road of financial recovery. For some people, filing bankruptcy is an ideal solution. Bankruptcy is a process in which individuals who cannot repay debts to their creditors […]

The 10 Most Common Reasons People File for Bankruptcy

https://ift.tt/eA8V8J Bankruptcy is nothing to be ashamed of. Many people find themselves on the brink of bankruptcy through no fault of their own. Bankruptcy can affect any person regardless of age, race, education level, and background. You are not alone – many people have been in your shoes and gotten a fresh start. Here are […]

Understanding the Repossession Laws in Pennsylvania

https://ift.tt/eA8V8J Here at Cibik & Cataldo, we want our clients and those who need answers to their questions, to understand, in layman’s terms, what is going on in their lives. That’s why we work diligently to make what can be quite confusing as understandable as possible. The laws concerning repossession are exceptionally complicated in some […]

Should You Reaffirm Your Mortgage When Filing for Bankruptcy?

https://ift.tt/eA8V8J If you choose to file for bankruptcy under Chapter 7 of the U.S. Bankruptcy Code, one option you may be urged to consider is signing a “reaffirmation” of your obligation to make mortgage payments. You should not make that decision without the advice of your attorney. Each year, about three-quarters of a million Americans, […]

Can filing for bankruptcy take my social security away?

https://ift.tt/eA8V8J A major concern for filing bankruptcy is whether your social security funds can be taken from you.  The good news is that social security benefits are exempt and therefore protected in bankruptcy.   This means you can continue to receive ongoing payments as well as payments you received prior to filing for bankruptcy if […]

Will filing bankruptcy eliminate tax debts?

https://ift.tt/eA8V8J Once you file for bankruptcy, the automatic stay will go into effect. This means that creditors, including the IRS, cannot continue to collect money from you.  After the bankruptcy, the IRS can resume collection unless the debt has been paid in full or discharged.   Some tax debt can be discharged in bankruptcy. You […]

Should I file a bankruptcy to delay my foreclosure?

https://ift.tt/eA8V8J If you fall behind on your mortgage payments, you may be at risk for foreclosure. If you are facing foreclosure, bankruptcy may help. Once you file either a Chapter 7 or Chapter 13 bankruptcy, the court will issue an automatic stay. This causes creditors to cease collection from you immediately.   By filing a […]

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