If your bills, living expenses, and financial obligations keep piling up month after month without any relief in sight, it may be time to evaluate your financial circumstance and consider talking to an experienced bankruptcy attorney in Philadelphia, PA about your options. Bearing growing debt may give you the sense that you do not have any recourse but to keep doling out minimum payments every month. However, that is a fallacy. Even if you are deep in substantial debt, there is hope. At the Law Office of Christian A. DiCicco, we have years of experience helping clients climb out of debt and reach financial stability. We provide viable solutions to debt relief that includes immediate reprieve from harassing creditors, foreclosure, eviction, judgments, wage garnishments, repossession, lawsuits, and debt collection.
At the Law Office of Christian A. DiCicco, we understand that going through a financial hardship is one of the most difficult situations that you and your family can face. Our team of professionals have assisted and guided countless individuals and families obtain peace of mind by advising them on the debt solution that best fits their particular situation. Every financial journey is unique. As such, we strive to listen to our clients’ desired economic goals and aim to help them achieve them. With the guidance of a knowledgeable Philadelphia bankruptcy attorney on your side, accomplishing a healthy financial standing can be attainable.
It is our commitment to provide our clients with quality legal advice and representation. We are committed to protecting our clients’ rights, assets, and dignity, all while securing financial relief. If you are going through a challenging financial hardship, our team at the Law Office of Christian A. DiCicco can help you determine whether bankruptcy is the right option for you. If you are already considering bankruptcy, it is imperative that you seek the legal advice and counsel from a skilled bankruptcy attorney in Philadelphia, PA.
Falling behind on bills and financial obligations can be extremely frustrating and stressful. When you consult with our Philadelphia bankruptcy attorney, you will encounter open communication, compassion, and honesty. We will work with you to determine the appropriate measures. By reviewing your income, debts, financial obligations, and long-term financial plans, we can actualize an effective strategy tailored to your circumstance that can establish debt relief. If it is determined that bankruptcy is the right approach, we will make sure to explain the entire process in detail from beginning to end. That way, you will be well-informed and confident about your financial decisions.
Located in Philadelphia, the Law Office of Christian A. DiCicco serves clients throughout Philadelphia and surrounding areas.
Chapter 7 Bankruptcy
The most common type of bankruptcy filed across the United States, including Pennsylvania, is Chapter 7. When you have credit cards, personal loans, medical bills, and other types of unsecured debt that you wish to eliminate, Chapter 7 allows you to clear away these debts by giving you a fresh start while letting you keep certain assets. Known as a liquidation bankruptcy, Chapter 7 offers you the opportunity to get rid of these debts once and for all, as long as you qualify. To verify eligibility, it is advised to consult with a professional bankruptcy attorney in Philadelphia, PA. A Philadelphia bankruptcy attorney who specializes in Chapter 7 bankruptcies can assess your specific case and administer a “means test” to determine eligibility. The means test takes into account your household income and compares it to the median household income in Pennsylvania. If you are under the median household income threshold, you most likely qualify to file for Chapter 7. If your income is higher, you may still be able to file for Chapter 7 under certain conditions. However, your bankruptcy attorney in Philadelphia, PA may suggest another bankruptcy option, such as Chapter 13. But, that will depend on your specific circumstance.
Chapter 13 Bankruptcy
Many who do not qualify to file under a Chapter 7 bankruptcy usually qualify for Chapter 13. Chapter 13 is a reorganization bankruptcy. It is also known as a wage earner’s bankruptcy. Under Chapter 13, you are able to devise a repayment plan that helps you pay all or a portion of your debts while allowing you to keep assets, such as your home, cars, and personal property. Unlike a Chapter 7, Chapter 13 requires you to have a reliable income source in order to pay off the repayment plan successfully. It is important to note that the repayment plan must be approved by the court to be valid. In general, repayment plans span over a period of three to five years, depending on your debts, income, and other factors. If you are unsure whether you qualify for Chapter 13, it is highly recommended to talk to a Philadelphia bankruptcy attorney about your case.
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