There are two types of bankruptcies that individuals may qualify for - Chapter 7 and Chapter 13 in Pennsylvania.** Chapter 7 Bankruptcy is harder to qualify for but is generally more desirable because in general you get to keep all your stuff and the debt goes away. Chapter 7 bankruptcies are also very quick so you can rebuild your credit sooner. In Chapter 7, most unsecured debts are forgiven. In addition, some assets are exempt.
In Chapter 13, you to pay your debts in installments over an agreed-upon time period, usually three to five years. In mot cases you pay back back pennies on the dollar with no interest or other penalties. Chapter 13 plans are used when the debtor makes too much money or has too many assets to qualify for a Chapter 7 bankruptcy.
Top Four Reasons People File
Health care bills.
Credit Card debt/ high interest rate loans make paying off the debt impossible.
Illness or injury cause a dramatic decrease in income.
Unemployment or small business failure.
Don't give into fear and don't be ashamed. These situations are why bankruptcy exists. We know you would pay your bills if you could. Bankruptcy will give you a new start so you can tackle debt and provide for your family.
Creditors Harassing You? - Know Your Rights
Consumer debt collection is regulated by the Fair Debt Collection Practices Act (FDCPA). The Act protects people from abusive debt collection practices. It places limits on how often they can call, what they can say, and how they can collect a debt. Give us a call if you are being harassed. The Act provides for $1,000.00 per violation and attorney's fees. Consultation on FDCPA cases is free. Better yet, if you hire our firm you will never pay any fee to us to pursue an FDCPA claim. We will collect the fees directly from the creditor who is harassing you!
From offices in Coudersport, Potter County, Pennsylvania, Ross and Ross, LLC serves the personal injury, bankruptcy, social security disability, divorce and family law needs of Western, Northwestern, Central and North Central Pennsylvania including the communities of Coudersport, Galeton, Shinglehouse, West Branch, Smethport, Port Allegany, Bradford, Roulette and Wellsboro, as well as Potter County, McKean County, Tioga County, Bradford County and other areas of Western PA and Central PA.
* Federal law requires the following disclosure: We are a debt relief agency helping people file for relief through bankruptcy under the bankruptcy code.
** There are other types of bankruptcies. Chapter 11 is for businesses and chapter 12 applies to farms.
***Legal Disclaimer: The contents of this site are for informational purposes only and do not constitute legal advice. No lawyer-client relationship exists until one of our attorneys meets with you and agrees to accept you as a client.