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With So Many Questions Surrounding the Chapter 7
Bankruptcy Process, You Cannot Move Forward
in a Confident Manner Until Y...
Chapter 7 Bankruptcy in Philadelphia May Not be the Answer www.getfreeofbills.com
3
If you find debt piling up and no conc...
Chapter 7 Bankruptcy in Philadelphia May Not be the Answer www.getfreeofbills.com
4
Ask most people which route they would...
Chapter 7 Bankruptcy in Philadelphia May Not be the Answer www.getfreeofbills.com
5
If you pass, you qualify. If you fail,...
Chapter 7 Bankruptcy in Philadelphia May Not be the Answer www.getfreeofbills.com
6
situation with a qualified attorney. O...
Chapter 7 Bankruptcy in Philadelphia May Not be the Answer www.getfreeofbills.com
7
About the Author
David M. Offen
A nati...
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Chapter 7 Bankruptcy in Philadelphia May Not Be The Answer

With so many questions surrounding the chapter 7 bankruptcy process, you cannot move forward in a confident manner until you discuss your situation with a qualified attorney. Learn more about chapter 7 bankruptcy in Philadelphia in this presentation.

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Chapter 7 Bankruptcy in Philadelphia May Not Be The Answer

  1. 1. With So Many Questions Surrounding the Chapter 7 Bankruptcy Process, You Cannot Move Forward in a Confident Manner Until You Discuss Your Situation with a Qualified Attorney CHAPTER 7 BANKRUPTCY IN PHILADELPHIA MAY NOT BE THE ANSWER DAVID M. OFFEN PHILADELPHIA BANKRUPTCY ATTORNEY
  2. 2. Chapter 7 Bankruptcy in Philadelphia May Not be the Answer www.getfreeofbills.com 3 If you find debt piling up and no conceivable way to dig yourself out, it may be time for you to consider filing for bankruptcy. While this sounds simple enough on paper, there are many details that go into the process. Above all else, you have to decide which type of bankruptcy you qualify for. Most people are familiar with the benefits of Chapter 7 bankruptcy, including the fact that they can wipe clear some or all of their debt, not having to pay any of it back. On the other hand, Chapter 13 has its own set of benefits, but you will be required to make some repayment to creditors through a repayment plan.
  3. 3. Chapter 7 Bankruptcy in Philadelphia May Not be the Answer www.getfreeofbills.com 4 Ask most people which route they would rather take, and the majority of those who are informed will tell you Chapter 7. The problem with this is simple: you may not qualify for Chapter 7 bankruptcy, as there are strict eligibility requirements in place. If you do not qualify, you will then need to turn your attention to Chapter 13. In addition, in some cases, you are much better off and receive much better benefits by filing for Chapter 13. Here are some of the reasons why you may not qualify for a Chapter 7 filing: 1. You earn too much money. If you earn enough money to repay your debt, you will not be able to file Chapter 7 bankruptcy. There are guidelines in place to determine if you exceed this limit, and in the event that you do, it is time to give Chapter 13 bankruptcy a second look. 2. You have enough disposable income to repay debt. In short, if you have enough money left over every month after paying all allowable expenses, you will not likely qualify for Chapter 7 bankruptcy. The means test is in place to help the court make this decision.
  4. 4. Chapter 7 Bankruptcy in Philadelphia May Not be the Answer www.getfreeofbills.com 5 If you pass, you qualify. If you fail, you may have to consider another option. 3. Have you received a bankruptcy discharge in the past? This can have an impact on whether or not you are able to move forward with a filing at the present time. If you received a Chapter 7 discharge within the last eight years, you are not eligible to file again. For those who received a discharge through Chapter 13 bankruptcy, the time frame for filing again is six years. 4. Have you defrauded or attempted to defraud creditors? In the event that you have defrauded creditors, the court is in position to throw out your Chapter 7 bankruptcy filing. The courts are looking for any type of fraud, including but not limited to: Lying about your income Lying about your debt Hiding assets from the court Giving away assets before filing for bankruptcy Using credit to buy luxury items you could never afford to pay off CONSULT WITH A CHAPTER 7 BANKRUPTCY ATTORNEY With so many questions surrounding the Chapter 7 bankruptcy process, you cannot move forward in a confident manner until you discuss your
  5. 5. Chapter 7 Bankruptcy in Philadelphia May Not be the Answer www.getfreeofbills.com 6 situation with a qualified attorney. Only then will you fully understand what you are getting into, and how to proceed. It is better to find out early on if you are eligible for Chapter 7 bankruptcy than to believe that you are, just to learn down the road that you have to alter your approach. An experienced attorney can review your financial situation, including your income and debt, to give you a better idea of if Chapter 7 bankruptcy is an option. If it is, you may want to proceed with the filing process. If it is not, it is time to discuss other methods of improving your finances, such as Chapter 13.
  6. 6. Chapter 7 Bankruptcy in Philadelphia May Not be the Answer www.getfreeofbills.com 7 About the Author David M. Offen A native to the Philadelphia area, Mr. Offen attended Temple University College and Law School. Mr. Offen is licensed to practice in the States of Pennsylvania and New Jersey. He is a member of the Eastern District of Pennsylvania Bankruptcy Conference and the National Association of Consumer Bankruptcy Attorneys. David M. Offen has over 20 years of experience and has helped over 8,500 individuals and families go through the Bankruptcy process. These filings have included stopping foreclosure on a home, stopping repossession of a car or vehicle, stopping IRS tax levies and frozen bank accounts and putting a stop to; lawsuits, credit card bills, personal loan, bills, utility shutoffs and other types of debt. With Mr. Offen’s help, these families have saved countless millions of dollars of debt. David enjoys getting to know his clients and will be happy to answer any and all questions you may have. You are treated as a person and not a number. Remember – there is no such thing as a silly question. Don’t be afraid to ask any questions you may have. David M. Offen has found that people looking to file Bankruptcy are not trying to avoid their responsibilities but rather to make a difficult situation easier. David enjoys getting people to stop worrying and making their financial lives much better and stop feeling overwhelmed. In some cases, Bankruptcy is not the best move and he can review your situation with you and tell you the right move for you to make. Get a completely free evaluation of your situation. For the past 20 years, the Law Offices of David M. Offen has been among the top filers of bankruptcy in the Eastern District of Pennsylvania. The Law Offices of David M. Offen www.getfreeofbills.com The Curtis Center 601 Walnut Street, Suite 160 West – 1st Floor Philadelphia, PA 19106 (215) 625-9600

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