Consumer Bankruptcy Lawyers in Levittown, Pennsylvania

Find the right Consumer Bankruptcy attorney in Levittown, 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 proceeds in federal courts. So, the process for filing for bankruptcy in Pennsylvania will be very similar to the process everywhere else in the U.S. However, individual bankruptcy courts have different rules for exemptions, so it might be a good idea to consult with a local lawyer in Levittown, Pennsylvania before filing.

Chapter 7 Bankruptcy in Levittown, Pennsylvania

There are 2 typical forms of consumer bankruptcies in Levittown, Pennsylvania: Chapter 7 and Chapter 13 bankruptcy. Chapter 7 states that a certain percentage of the debtor's property be liquidated to pay off at least a small part of their debt. However, many forms of property are exempt, and do not need to be liquidated, such as cars, homes, insurance policies, and retirement accounts.

Once eligible assets are sold, and the proceeds turned over to the creditors, most remaining debt is absolved. However, some forms of debt cannot be discharged in bankruptcy, including student loans, taxes, child support, personal injury awards, and fines. If most of your debt in Levittown, Pennsylvania is not dischargeable, you may want to consider other options besides bankruptcy.

Chapter 13 Bankruptcy in Levittown, Pennsylvania

Chapter 13 Bankruptcy in Levittown, 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 does not excuse debt, but restructures it instead. Typically, various debts are consolidated into a single monthly payment. This is designed to make the debt more manageable, giving the debtor the chance to pay off the debt over a longer period of time, without all of it coming due at once. This is typically manageable, as long as the debtor can make some sacrifices.

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

This depends entirely on the facts of your specific case. If you have a decent amount of stable income, and a large amount of non-exempt property which you don't want to part with, Chapter 13 may be the best option for you. If most of your property is exempt, and you don't have much stable income, Chapter 7 might be the best option.

In any case, you should talk with a local Levittown, Pennsylvania bankruptcy lawyer. Your lawyer can advise you of your options and inform you of their likely result. This will make it much easier for your to make an informed choice.

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Life in Levittown

Levittown is a well-planned city that is a part of Bucks County in Pennsylvania. It has a population of 52,983 people per the 2010 census. Some know it as the largest suburb in the state.

The city is famous for playing host to the Bucks County St. Patrick's Day Parade. The parade starts from St. Joseph the Worker Church and proceeds two miles to Conwell-Egan Catholic High School. The parade has been an annual tradition of the city since 1988.

Many attorneys call Levittown home and practice law with passion and dedication to providing excellent legal services. These attorneys and their attitude towards the legal field is the reason why residents and local businesses have no issues having their legal matters taken care of.

The city has also been home to many famous people include Earl Williams, Troy Vincent, Steve Slaton, Bill O'Neil, Eric Goldberg, Jim Cawley, Susan Barnett, and Keith Armstrong.

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