Should I file for Bankruptcy?

Deciding whether to file for Bankruptcy is a personal decision. Knowing what to do, what road to take and when to take it can be overwhelming when you are already burdened with debts. worry and emotion. We at The Law Offices of David M. Offen can consult with you and offer your clear explanations about your options. We will assess your particular situation to see if Bankruptcy is your best option or advise you if you better off with an alternative solution.

Remember TIMING IS EVERYTHING. File your Bankruptcy too late and you can lose your home to foreclosure, have your vehicle repossessed or have your wages garnished. File too soon and you may lose the opportunity to get better terms. The Philadelphia Bankruptcy Law Office of David M. Offen has helped over 8500 families get relief from debt and financial problems through bankruptcy.

What type of Bankruptcy should I file?

The most common types of consumer bankruptcy filings are Chapter 7 and 13. The type of filing will depend on the type of debt you have, the income you have, and any assets you may own. In some cases a person is eligible to file for either Chapter 7 or 13, but may be better off filing for Chapter 13. An Example is a person who bought a car over 2 ½ years ago – the balance on the car loan is $21,000 and the value of the car is $12,000. The person wishes to keep the car. In many cases we can reduce the balance on the car from $21,000 to $12,000. This is called a cram down.

Can the I.R.S. or another creditor garnish my paycheck?

Once a Bankruptcy Petition is filed, the I.R.S. is prohibited from garnishing your paycheck for back taxes. All other creditors are not allowed to garnish your check. Current child support payments are an exception and must continue to be paid.

Can I lose my job or immigration status because I file Bankruptcy?

It is illegal for an employer to discriminate against an employee just because the person has filed for relief under the Bankruptcy code. The Immigration status of a person is not affected by the Bankruptcy filing.

Do I need an attorney to file for Bankruptcy?

An individual filing for Bankruptcy is not required to have a lawyer. However, filing bankruptcy is a legal procedure and it can be complicated. Our office has seen several cases in which people filed bankruptcy on their own and were harmed because of mistakes that were easily avoidable. Having an experienced Bankruptcy attorney at your side can help ensure that your case is properly filed and you are properly protected throughout the entire process from day one.

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