Consumer Bankruptcy Lawyers in Wilkes Barre, Pennsylvania

Find the right Consumer Bankruptcy attorney in Wilkes Barre, PA

Bankruptcy is a legal process allowing an individual or business to have some or all of their debt absolved. 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 ultimately decide that they are outweighed by the benefits. Bankruptcy is governed by federal law, and proceeds in federal courts. So, the procedure for filing for bankruptcy in Pennsylvania will be very similar to the procedure anywhere 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 attorney in Wilkes Barre, Pennsylvania before filing.

Chapter 7 Bankruptcy in Wilkes Barre, Pennsylvania

There are 2 main types of bankruptcy in Wilkes Barre, Pennsylvania. They are known as Chapter 7 and Chapter 13 Bankruptcy. Chapter 7 bankruptcy involves liquidation of some of the debtor's assets. It requires some percentage of the debtor's property to be sold in order to pay off as much of his or her debt as possible. However, the majority of property that most people own is exempt. This normally includes homes, vehicles, insurance policies, and retirement accounts. These do not need to be sold.

Once the non-exempt property is sold, the rest of the dischargeable debt is absolved. Some types of debt, however, is non-dischargeable, including student loans, criminal fines, and others. If most of your debt in Wilkes Barre, Pennsylvania is not dischargeable, Chapter 7 may not be the best option.

Chapter 13 Bankruptcy in Wilkes Barre, Pennsylvania

Chapter 13 Bankruptcy in Wilkes Barre, Pennsylvania differs substantially from Chapter 7. It might be a better option than Chapter 7, depending on the facts of your case. Chapter 13 Bankruptcy involves a court setting up a adjusted payment plan, which allows the debtor to pay off most or all of his debts over a prolonged period of time, through monthly payments that should, assuming that the debtor is willing to make a few sacrifices, be manageable.

Which Type of Consumer Bankruptcy Should I File in Wilkes Barre, Pennsylvania

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

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

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Life in Wilkes Barre

Wilkes-Barre, population 43,000, is located in Luzerne County in the state of Pennsylvania. The city recently celebrated the 200th anniversary of its incorporation in 1806. Wilkes-Barre belongs to the Scranton-Wilkes Barre Pennsylvania Metropolitan Statistical Area.

As the county seat, Wilkes-Barre is an important economic and residential hub for Luzerne County. It features a blend of historic sites with modern technological accommodations. For example, popular places to visit in Wilkes-Barre include the Frederick Stegmaier Mansion and the Little Theatre of Wilkes-Barre. Luzerne County Museum is also located in the city.

Wilkes-Barre is also an excellent place for education and advancement opportunities. Wilkes University and King's College, which were both recently expanded, can be found in the city. Also, several large employers like GUARD Insurance Group and Benco Dental Supply Co. are situated in Wilkes-Barre. The city also implemented extensive renovation projects beginning in 2009.

Wilkes-Barre lawyers usually assist their clients at the Luzerne County Court of Common Pleas located in the city. Lawyers in Wilkes-Barre, Pennsylvania are known for providing quality services in a variety of legal fields and specialties. Many of them have received accreditation in multiple state bars.

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