Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Should You File for Bankruptcy in Philadelphia When Unemployed?

The question is whether or not you should file for bankruptcy when unemployed is one that comes up time after time. For some, there is no better option. For others, it is best to hold off for as long as possible. Learn more about bankruptcy in Philadelphia in this presentation.

Related Audiobooks

Free with a 30 day trial from Scribd

See all
  • Be the first to comment

  • Be the first to like this

Should You File for Bankruptcy in Philadelphia When Unemployed?

  1. 1. “The question of whether or not you should file for bankruptcy when unemployed is one that comes up time after time. For some, there is no better option. For others, it is best to hold off for as long as possible.” SHOULD YOU FILE FOR BANKRUPTCY IN PHILADELPHIA WHEN UNEMPLOYED? DAVID M. OFFEN PHILADELPHIA BANKRUPTCY ATTORNEY
  2. 2. Should You File for Bankruptcy in Philadelphia When Unemployed? www.getfreeofbills.com 3 Going through a stretch of unemployment can be extremely stressful. Like many, this will have a negative impact on your finances as well as your personal life. As a result, you may begin to consider all your options, including bankruptcy. If you are weighed down by debt before losing your job, there is a good chance things will get worse if you are out of work. Some are able to fight through this, eventually landing a job and getting back on their feet. Others, however, continue to struggle and are willing to do whatever it takes to ease the pain.
  3. 3. Should You File for Bankruptcy in Philadelphia When Unemployed? www.getfreeofbills.com 4 The question of whether or not you should file for bankruptcy when unemployed is one that comes up time after time. For some, there is no better option. For others, it is best to hold off for as long as possible. Are you Seeking Employment? The answer to this question will go a long way in helping you decide what to do next. If you have property with which you can pay creditors, and you have no reason to believe you will find a job in the near future, it may be time to move forward with bankruptcy. Also, if you have no assets, you may want to proceed with filing. This way, if you finally decide to file for bankruptcy you can wipe your slate clean of all your debts which are dischargeable. Getting a Job after Filing for Bankruptcy
  4. 4. Should You File for Bankruptcy in Philadelphia When Unemployed? www.getfreeofbills.com 5 Just because you don’t have any job prospects lined up doesn’t mean things will remain this way indefinitely. There is a chance you could file for bankruptcy and then get a job. If you file for Chapter 7 and then find a job, this does not typically lead to a denial of discharge. With Chapter 13, things are treated differently. Generally you need to have regular income to file for bankruptcy. If you know you are going to start working in the near future, you should discuss with your attorney if it is best to file chapter 13 now or wait until you have additional income. Should you Wait? You should discuss your current situation with your lawyer as well as what you expect your situation will be. Depending on your circumstances if may be best to proceed with a chapter 7 now. In some cases involving Chapter 13, you may want to proceed now if you need relief from your debts, or wait until your have more income. A qualified Bankruptcy attorney can
  5. 5. Should You File for Bankruptcy in Philadelphia When Unemployed? www.getfreeofbills.com 6 advise what is best for you in your situation; If you have a lump sum of money you can request that your attorney do the following; Negotiate with creditors, as many will agree to a settlement. Creditors know that receiving some money through a settlement is better than receiving no money if you file for bankruptcy. Some people immediately think about bankruptcy if they are unemployed and facing a mountain of debt. The final decision is yours. You should compare the pros and cons of filing for bankruptcy in your situation when unemployed, only making a decision when you are 100 percent confident in what you are doing.
  6. 6. Should You File for Bankruptcy in Philadelphia When Unemployed? www.getfreeofbills.com 7 There are people who have benefited from filing for bankruptcy while unemployed. There are also those who have avoided filing for bankruptcy while unemployed. As long as you know what you are doing and having the right answers to your questions, you can move forward in the appropriate manner.
  7. 7. Should You File for Bankruptcy in Philadelphia When Unemployed? www.getfreeofbills.com 8 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 215-625-9600 www.getfreeofbills.com The Curtis Center 601 Walnut Street, Suite 160 West – 1st Floor Philadelphia, PA 19106

×