Consumer Bankruptcy Lawyers in Allentown, Pennsylvania

Find the right Consumer Bankruptcy attorney in Allentown, PA

Bankruptcy is a legal process allowing an individual or business to have some or all of their debt excused. It is almost always considered as a last resort because it can have some negative long-term consequences which must be considered, even if you eventually decide that they are outweighed by the benefits. Bankruptcy is controlled by federal law and handled in federal courts, so the procedural and substantive rules involved in Pennsylvania are often the identical as everywhere else in the U.S. However, individual bankruptcy courts have slightly different rules for items such as exemptions, so it would be a good idea to consult with a local Allentown, Pennsylvania bankruptcy attorney beforehand.

Chapter 7 Bankruptcy in Allentown, Pennsylvania

There are 2 typical forms of bankruptcy in Allentown, Pennsylvania. They are known as Chapter 7 and Chapter 13 Bankruptcy. Chapter 7 involves liquidation of part of a debtor's assets. It requires that a certain percentage of the debtor's property to be sold to pay off as much debt as possible. The majority of property that most people own, however, is exempt. This typically includes homes, vehicles, retirement accounts, and others. These are not available to creditors.

Once all non-exempt assets are sold, and the money from the sales turned over to the creditors, most remaining debt is excused. But some forms of debt cannot be discharged through Chapter 7 bankruptcy. These include child support payments, student loans, and criminal fines, among others. If most of your Allentown, Pennsylvania debts are not dischargeable, you may want to consider options other than bankruptcy.

Chapter 13 Bankruptcy in Allentown, Pennsylvania

Chapter 13 Bankruptcy in Allentown, Pennsylvania is very different from Chapter 7. Whether or not it is a better option is very dependent on the facts of each distinct case. Chapter 13 bankruptcy does not discharge debt. Instead, it restructures it. This involves the bankruptcy court coming up with a new payment plan that supersedes the terms of the arrangements that gave rise to the debt in the first place. This results in a adjusted payment plan that the debtor should find manageable, if he or she can make a few sacrifices.

Which Type of Consumer Bankruptcy Should I File in Allentown, Pennsylvania

Whether Chapter 7 or Chapter 13 is the right choice for you depends heavily on your distinct situation. If you have a stable income stream, and a lot of non-exempt property, Chapter 13 might be right for you. If you don't have a stable income, and most of your property is exempt, Chapter 7 might be a better way to go.

Whatever your situation, you should speak with a local Allentown, Pennsylvania bankruptcy lawyer. Your attorney will be able to advise you of your options and their likely results, which will help you make a more educated decision.

Talk to a Bankruptcy & Finances Law Attorney now!

Life in Allentown

Allentown, Pennsylvania is a historic town located in an area known as "Lehigh Valley". The city is best known for its large number of century-old industrial complexes, commercial structures, and historic homes.

Much of Allentown's distinctive residential architecture is concentrated in its historic district of West Park. West Park is part of a larger community known as Center City. Center City in Allentown, Pennsylvania is comprised of "stately homes" featuring Victorian and Craftsman styles of homebuilding. Federal rowhomes are also common in Allentown. The city also boasts one America's best park systems. The city's park system was influenced by the "City Beautiful" planning movement in the 1890's and early 1900's.

The culture of Allentown is largely influenced by old-world German heritage that stretches back centuries. In particular, Allentown cuisine features many traditional treats that are exemplary of "Dutch Pennsylvania" culture. Allentown, Pennsylvania is an excellent city to visit, as it hosts many events and attractions. Some events and destinations include the Mayfair Festival of the Arts, the Baum School of Art, and the Allentown Symphony Hall.

Lawyers in Allentown, Pennsylvania are available to assist residents in a number of legal fields. Allentown lawyers are familiar with the unique set of laws that govern the city. Experienced lawyers are able to assist Allentown residents with questions, legal complaints, and inquiries.

Clients Rate LegalMatch Attorneys
(click to read reviews)

Ian M.
Ian M.

Bankruptcy, Banking & Credit

Richboro, PA

Eddy H.
Eddy H.

Bankruptcy, Banking & Credit

San Mateo, CA

Howard B.
Howard B.

Bankruptcy, Banking & Credit

Rye Brook, NY

Gotham Light