Bankruptcy

BANKRUPTCY

Have you considered filing for bankruptcy due to overwhelming credit card debt, mortgage payments, taxes, or other debt? Are you struggling in your current financial situation? The Stichler Law Office is dedicated to assisting consumers with eliminating or restructuring their finances to alleviate such hardship.

Tough economic times and a worsening economic climate have made things difficult for everyone. Many people are receiving harassing letters and phone calls from creditors to pay bills they cannot afford. Some consumers have concerns of how a bankruptcy filing might impact their credit rating or financial stability in the future.

Filing for bankruptcy can eliminate many types of debt and halt collection efforts by creditors, while at the same time allowing you to keep all or most of your property, including your house and car. It is important to find the right attorney to assist you in these trying times. Each case is different, and I will work with you personally to determine whether bankruptcy is the best solution for you.

The main advantage to filing for bankruptcy is an "automatic stay", which stops all collection activity and prohibits contact by creditors. An automatic stay is effective as soon as the bankruptcy is filed. It may also stop foreclosure on your home, prevent a vehicle or other property from being repossessed, and discharge unsecured debts.

I will discuss your financial situation with you and advise you as to the type of bankruptcy filing for which you qualify.

Chapter 7 Bankruptcy:
A Chapter 7 "liquidation" bankruptcy allows you to receive a discharge, or cancellation, of many types of unsecured debts. These discharged debts may include such debts as medical bills and credit card debt. Debts which are not discharged include child support, alimony, tax debts, and student loans (unless an undue hardship can be shown). Typically, you will be able to keep all or most of your property, including your house and vehicle, under the exemptions provided by the Bankruptcy Code.

The Chapter 7 bankruptcy process requires meeting certain income eligibility guidelines and takes about four to six months to complete. It requires payment of a filing fee to the bankruptcy court, filing of paperwork, and attendance at a brief creditors' hearing. Prior to filing, you will be required to complete a brief credit counseling session, which is even available online.

Chapter 13 Bankruptcy:
A Chapter 13 bankruptcy requires you use a portion of your income to pay back all or a portion of your debts over the course of a three- to five-year time period. A Chapter 13 bankruptcy requires the same filing of forms and attendance at a creditor hearing as in a Chapter 7 bankruptcy. In a Chapter 13, however, you must also prepare a repayment plan providing for repayment of creditors. You then make monthly payments which are distributed to your creditors by the bankruptcy Trustee as per your plan. Once the plan is completed, any unpaid balances on qualifying unsecured debts are discharged. Attorney's fees for a Chapter 13 bankrupcty case are typically able to be included in your repayment plan.

For a free consultation and evaluation of your bankruptcy issue call today at (412) 609-7202, (724) 201-1102, email jms@stichlerlaw.com, or fill out the online contact form to the left of this page. I am available to meet with you at the location that is best for you and Saturday and Sunday consultations are available.

We are a debt relief agency. We help people file for relief under the Bankruptcy Code.