Bryan P. Keenan & Associates, PC Toll Free 866-753-6857 Phone 412-923-4941

Providing The Advice And Options You Need To Overcome Financial Problems And Move Forward

Bankruptcy Attorneys Who Care About You And Your Future
Don't let debt problems disrupt and define your life.

Personal Bankruptcy Archives

How often can I make use of bankruptcy?

Bankruptcy may be considered to be an extreme measure of debt relief, but there is nothing to prevent people from experiencing extreme debt situations more than once in their lives. Many famous and ultimately wealthy individuals throughout U.S. history have had to resort to personal bankruptcy on more than one occasion. So how often can a person file for bankruptcy? The answer depends heavily on the type of bankruptcy one petitions for. This post will address the question with regard to the two kinds of bankruptcy used most often by individuals, Chapter 7 and Chapter 13.

Things to consider before defaulting on a student loan

Recent proposals by some in the federal government to make available for anyone who qualifies for admission two years of free college education showcases the importance of higher education in today's highly competitive job market. More people than ever are taking college coursework, many by using student loans to fund the endeavor.

Bankruptcy counseling: what you need to know

Making the decision to file a personal bankruptcy petition can be a big step, but the petition itself is only part of what you need to consider. Regardless if you choose a Chapter 7 or a Chapter 13 path, before you can take advantage of a Chapter 7 liquidation a Chapter 13 payment plan you need to be aware of two additional requirements under federal bankruptcy law: credit counseling, and debtor education.

How does bankruptcy affect the applying for student loans?

If a resident of Pennsylvania would like to borrow money to attend school but has filed for bankruptcy in the past, chances are good that they will still be able to receive a student loan. Although declaring bankruptcy does not look good on a credit report, doing this does not disqualify individuals from applying for all types loans.

Private Pennsylvania student loans and bankruptcy regulations

It is a common misconception among Pennsylvania students that all types of student loan debt are inescapable through bankruptcy. However, laws that protect other types of student loans from being discharged do not protect many private student loans. In fact, some private loan debt may be cleared away within 90 days of filing for a Chapter 7 bankruptcy.

Potential issues with filing Chapter 7

There may be debtors in Pennsylvania who can benefit from understanding more about what creditors can recover after a Chapter 7 bankruptcy filing is approved. Smaller items, such as clothes, furniture and moderately priced jewelry may not be collected from debtors approved for Chapter 7 bankruptcy. The trustee assigned to the bankruptcy case is typically concerned with issues related to the transfer of assets, cash advances, potential inheritances, pending lawsuits or delaying a foreclosure.

Differences between Chapter 7 and Chapter 13

As a Pennsylvania resident addresses financial difficulties, bankruptcy might be considered as a way of obtaining relief. Although bankruptcy can facilitate a fresh start in one's finances, the timing and type of relief can vary based on the type of bankruptcy filing selected. Chapter 7 and Chapter 13 both provide opportunities for excessive debt to be resolved, but the conditions and actions are different for each option.

Why filing for bankruptcy can be a wise move

While filing for bankruptcy might sound like a frightening thing to do, more than 1.2 million people in Pennsylvania and across the nation have sought federal protections, according to a recent report. Whenever people declare bankruptcy, they are usually trying to find a way out of uncontrollable or unmanageable debt.

Benefits of Chapter 7 bankruptcy outweigh the disadvantages

Despite the few disadvantages of filing for bankruptcy protection, there are numerous advantages. Chapter 7 bankruptcy can eliminate many debts without requiring the Pennsylvania filer to pay anything toward the outstanding balances. Although some debts, such as student loans, alimony and child support cannot be discharged in bankruptcy, eliminating consumer debt and medical bills might make it easier to make the payments on educational debts and family obligations.

Bankruptcy and debt relief options

When you are overwhelmed by debt in Pennsylvania, you may be searching for an option for debt relief. Many people find themselves in positions in which they need a fresh financial start. You might be behind on your mortgage payments, have ballooning credit card and medical debt or may owe the IRS taxes. Regardless, there are ways you can address the problems and take care of your financial problems.

Email Us For A Response

Contact Us Today

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Bryan P. Keenan & Associates, PC

993 Greentree Road
Suite 101
Pittsburgh, PA 15220

Toll Free: 866-753-6857
Phone: 412-923-4941
Map & Directions