Consumer Bankruptcy Lawyers in Scranton, Pennsylvania

Find the right Consumer Bankruptcy attorney in Scranton, PA

Bankruptcy is a legal process allowing an individual or business to have some or all of their debt discharged. 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 Scranton, Pennsylvania before filing.

Chapter 7 Bankruptcy in Scranton, Pennsylvania

In Scranton, Pennsylvania, there are 2 commonly-used types of consumer bankruptcy: Chapter 7 and Chapter 13. 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 money turned over to the creditors, most remaining debt is discharged. However, there are certain types of debt that cannot be discharged in bankruptcy, including student loans, taxes, child support, and criminal fines. If most of your debt is non-dischargeable, it may not be a good idea to file for bankruptcy in Scranton, Pennsylvania.

Chapter 13 Bankruptcy in Scranton, Pennsylvania

Chapter 13 bankruptcy in Scranton, Pennsylvania is markedly different. It may or may not be a better option than Chapter 7, depending on the facts of your particular case. Chapter 13 does not eliminate any debt, but it creates a new payment plan that should give the debtor some breathing room. Typically, all of the debts are consolidated into 1 periodic payment. While this may make it take longer to pay off the debt, if the debtor is willing to make a few sacrifices, the plan should be manageable.

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

Which Bankruptcy type to file under depends strongly on the facts of each individual case. If you have a stable stream of income (enough to make a payment plan manageable), and a large amount of non-exempt property that you don't want to part with, Chapter 13 may be best for you. If you don't have a stable income or large amounts of non-exempt property, you may be better off filing for Chapter 7.

Regardless of your situation, you should speak with an attorney in Scranton, Pennsylvania who is accomplished in bankruptcy before making a decision. They will be able to advise you of your options, and the likely consequences of each one, allowing you to make a much more informed decision.

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Life in Scranton

Scranton is located in the northeast region of Pennsylvania. It is in Lackawanna County, with a population of 76,089 people.

An interesting fact is that Scranton is one of the largest former anthracite coal mining communities. Other such communities include Wilkes-Barre, Pittston, and Carbondale.

Some popular attractions include the Scranton Iron Furnaces, The Elecric City Trolley Museum, The Lackawanna Coal Mine at McDade Park, Everhart Museum, Terency Powderly's House, The Houdini Museum, Sno Mountain Ski Resort, and the Masonic Temple.

Scranton is also home to many law offices and small firms that provide legal services in all areas. Residents and businesses can therefore remain rest assured because they do not need to travel far for their legal matters to be handled.

Past famous residents include Bob Degen, Judy McGrath, Alex Grass, Bill O'Reilly, B.F. Skinner, Melanie Smith, and Lizabeth Scott.

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