Bankruptcy Service Chester County
The professional legal team at Lipow Law Office in Malvern, Pennsylvania, specializes in providing assistance in filing Chapter 13 bankruptcy for our clients.
Chapter 13 Bankruptcy
This is often referred to as the “individual debt adjustment” chapter. It is the chapter selected in about one-third of all the bankruptcies filed around the country each year. As in a Chapter 7 bankruptcy, the debtor is seeking a discharge, which is the document mailed to the debtor and all creditors by the Clerk of the Bankruptcy Court toward the end of the case. It provides notice that the debtor is no longer legally responsible for repaying discharged debts.
In a Chapter 13 bankruptcy proceeding, the debtor is essentially saying to creditors that his or her household generates a certain sum, that it spends a certain sum on its normal obligations such as rent or mortgage, car payments, utilities, food and groceries, insurance, medical needs, or transportation, and, accordingly, has a limited amount of funds left over at the end of each month to repay to the prebankruptcy creditors, all of whom lose priority when the bankruptcy petition is first filed.
We meet with clients for a free consultation. We determine what chapter you qualify for and make recommendations for bankruptcy and non-bankruptcy options. We work to prepare the petition, the statements, and the schedules before filing them with the bankruptcy court, and we represent you before the trustee and before the court to work through the discharge of your debt.