Effective Bankruptcy Law Services

Experienced Bankruptcy Attorney in Bloomsburg, PA

Loans and mortgages are a great way to fulfill your dreams of owning property, cars, and more. But sometimes, you'll find that you are in deep financial trouble and unable to repay the loan or the mortgage.

In such times, contact Robert Spielman in Bloomsburg, PA for skilled, dependable, and conscientious assistance in filing your bankruptcy. To get started, contact his locally owned business right away!

All Types of Bankruptcies Filed

Based on your financial situation, he can help you file for bankruptcy under the right chapter. This includes:

• Chapter 7
  
• Chapter 11
  
• Chapter 12
  
• Chapter 13

Find Out More About Each Type of Bankruptcy

Chapter 7 Bankruptcy

When you find yourself facing a serious financial setback, filing for Chapter 7 bankruptcy can help a lot. This is ideal when you’re going through a financial crunch due to an illness, divorce, unemployment, or other factors that are out of your control.

Once you qualify for Chapter 7 bankruptcy, you’ll get immediate benefits. The collection and lawsuits stop almost at once. Once your bankruptcy is complete, you’ll be given an Order of Discharge which frees you from all dischargeable debts. In Chapter 7 bankruptcy, you won’t have to pay any money to creditors or to a trustee, and they can never call you, write to you, or harass you in any way.

The process for Chapter 7 is quite fast and usually takes about 120 days to get completed after the petition is filed. It’s not costly since the case is completed quickly, and the issues are less complex as compared to other Chapters.

There are a few factors that decide whether you can or should file a Chapter 7. Some of these factors are complex.

One important factor is whether your income exceeds the median income for similarly sized families in your county. Generally, if your income exceeds the median, you are unlikely to qualify for a Chapter 7.

If you are not sure about this, we will carefully evaluate your financial situation and help you make the right decision.

Chapter 11 Bankruptcy

Chapter 11 bankruptcy is perfect for businesses and certain individuals. This Chapter allows you to reorganize your debts and usually involves a corporation or a partnership. As a Chapter 11 debtor, you can propose a plan of reorganization to keep your business afloat and pay the creditors over time.

Chapter 12 Bankruptcy

Are you a family farmer or a family fisherman facing a debt? Then Chapter 12 bankruptcy is perfect for you. Similar to Chapter 13, Chapter 12 bankruptcy allows family farmers and fishermen to form a repayment plan to settle their debts.

Unlike other Chapters, this Chapter is specifically made to suit the realities of family farming and fishing. It removes many obstacles that you, as a debtor, would face if you were to reorganize your debts as a corporation under Chapter 11 or as an individual under Chapter 13 of the Bankruptcy Code.

Chapter 13 Bankruptcy

Need to stop a foreclosure or tax sale? A Chapter 13 bankruptcy is your best bet.

If you are falling behind on your mortgage, filing a Chapter 13 will immediately stop the foreclosure process. You’re then given 5 years to make up for the lapses in the mortgage payments, but you also have to keep paying your current dues. At the same time, most of your credit cards and other unsecured debts are removed. The process is the same for real estate tax sales.

If you have unpaid IRS liabilities, Chapter 13 is a good way to handle the situation. The IRS will accept your payments over a 5-year period if you file for a Chapter 13 bankruptcy. To top it off, they will stop charging you interest and penalties as soon as you file the case.

Under Chapter 13 bankruptcy, you can file a case as an individual or jointly with your spouse. You need to keep several things in mind before you decide to file your case. Some of these things are your income, the debt you owe, and the property that you are planning on keeping through the bankruptcy. But regardless of why a Chapter 13 bankruptcy is chosen, its function and purpose are the same.

This is a brief overview of the types of bankruptcies you can file. Visit my office today, we'll discuss your situation, and I will help you choose the right one!

This firm is a debt relief agency and assists businesses and individuals in obtaining relief under the United States Bankruptcy Code.

Serving:

Central and Northeastern Pennsylvania, including the counties of Columbia, Montour, Snyder, Union, Lycoming, Northumberland, Schuylkill, Lackawanna, and Luzerne areas.