West Chester bankruptcy lawyer Michael T. Malarick helps the community in West Chester PA with chapter 7 bankruptcy and chapter 13 bankruptcy. Attorney Michael T. Malarick has been a licensed lawyer in the states of Pennsylvania and New Jersey for over 30 years. Call today to speak with our West Chester bankruptcy lawyer and get a free initial bankruptcy consultation.
West Chester Bankruptcy Lawyer: How Can Bankruptcy Help Me?
Filing for bankruptcy can help you get out of debt. If you find yourself in debt because of a Coronavirus or Covid-19 stay at home order, too much credit card debt, bills, or the loss of a job, a bankruptcy petition can help you weather the storm. Call our West Chester bankruptcy attorney today for a free initial bankruptcy consultation.
The purpose of the Pennsylvania bankruptcy code is to allow an honest debtor to get a fresh start. Bankruptcy can ease the stress you feel from overwhelming debt. Bankruptcy can help you in a number of ways. It can:
- Stop a sheriff’s sale of your home
- Prevent the repossession of your car
- Stop or reverse a wage garnishment
- Stop the harassing phone calls from creditors
- Stop or reverse a home foreclosure; and
- Discharge your debts from credit card or personal loans.
If you live in West Chester, PA, or any other Chester County town, contact the Malarick Law Firm for a free initial phone consultation.
West Chester Bankruptcy Attorney: What Should I Do First If I Want To File A Bankruptcy Petition?
You should first gather together all of your liabilities or debts together with all of your assets or belongings. Most bankruptcy attorneys can provide you with a bankruptcy questionnaire and a list of documents needed to complete your bankruptcy petition. Some of the documents you should gather include:
- Credit card and/or loan statements;
- Your current mortgage statement;
- Your current bank statement;
- Your car loan or lease statement;
- Your pay stubs;
- Your recent tax returns
Before you can file your bankruptcy petition, you will need to obtain a Credit Counseling Certificate. This certificate can be obtained online, over the phone, or in person. The Credit Counseling Certificate will cost between $10.00 to $50.00 depending on the provider you choose. The Credit Counseling Certificate is valid for 180 days. Your bankruptcy petition can not be filed without the Credit Counseling Certificate.
Call our West Chester bankruptcy lawyer today for a free initial phone consultation and list of Credit Counseling certificate providers. Call the Malarick Law Firm at 610-816-6683.
Why Would I File A Chapter 7 Bankruptcy in West Chester, PA?
If you only have consumer debt, you would generally file a Chapter 7 bankruptcy petition. Consumer debt, or unsecured debt, is, for example, credit card debt, personal loan debt, or past due utility bills. Also, if you have a car with a loan or lease payment that is too high, or, if you have a house with a mortgage payment that is too high, and you do not want to keep the car or the house, you could file a Chapter 7 petition, give the car of house back to the lender, and be relieved of any deficiency payment due on the car or house loan.
Once you file your West Chester Chapter 7 bankruptcy petition, a creditors meeting will be scheduled. The creditors meeting is conducted by a trustee. You and your attorney will attend the meeting. Your creditors will be invited to attend the meeting – but they almost never appear. The trustee will examine your petition seeking non-exempt assets that could be applied to pay off your debts. As you will review your petition before it is filed, you will know before the creditors meeting whether you have any non-exempt assets. The bankruptcy code includes many exemptions for your assets that will keep your property out of the hands of your creditors.
Once you file your Chapter 7 bankruptcy petition, you will have to obtain a second certificate before you receive a discharge of your debt. This certificate is the Financial Management Certificate or Debtor Education certificate. Again, this certificate costs between $10.00 to $50.00 and can be obtained online, over the phone, or in person. Our West Chester bankruptcy lawyer handles chapter 7 bankruptcy cases. Call our bankruptcy lawyer for West Chester, PA today for a free initial consultation. Call the Malarick Law Firm at 610-816-6683.
When Would I File A Chapter 13 Bankruptcy in West Chester, PA?
If you have secured debt, such as a car that may be repossessed, or a home that is in foreclosure, and you have a regular source of income, you can file a Chapter 13 bankruptcy petition. This petition allows you to propose a plan to bring your car loan or home mortgage up to date. Again, as with a Chapter 7 bankruptcy petition you will need to obtain the Credit Counseling Certificate before you file and the Financial management Certificate after you file. Also, as with a Chapter 7 petition, there will be a creditors meeting scheduled with a trustee after you file your petition.
In the Chapter 13 Plan, you propose to bring your secured debt (car loan or home mortgage) current over a three to five year period. During this time period, you must pay all of your current bills, including your current car loan or home mortgage, and, in addition, pay a separate amount to the Chapter 13 trustee that will ultimately pay down your arrears.
If you have fallen behind on your mortgage or car loan because of lost earnings due to a Coronavirus or Covid-19 stay at home order, or because of a medical emergency, contact our West Chester bankruptcy lawyer for a free initial phone consultation. Call the Malarick Law Firm at 610-816-6683.
Contact Our West Chester Bankruptcy Lawyer
If you have fallen behind in your bills, overwhelmed with credit card debt, or loss your job, call our West Chester bankruptcy attorney for a free initial phone consultation. If you are seeking a home foreclosure attorney in West Chester, PA the Malarick Law Firm is available to take your call and provide you a free initial phone consultation with our West Chester foreclosure attorney. Call the Malarick Law Firm at 610-816-6683.
Other Areas of Practice
- Chester County DUI Lawyer
- Chester County Injury Lawyer
- Chester County Probate Lawyer
- Chester County Dog Bite Lawyer
- Chester County Malpractice Lawyers
- Chester County Social Security Disability Attorney