The Law Office of Attorney John Fisher LLC in Plymouth, PA Bankruptcy

Eligibility for Chapter 7 Bankruptcy: To qualify for Chapter 7 bankruptcy, you must pass the means test, which evaluates your income and compares it to the median income for a household of your size in Pennsylvania. If your income is too high, you may be ineligible for Chapter 7 and may need to consider Chapter 13 instead.

Chapter 13 Bankruptcy: Restructure Your Debt

If you have a regular income and need more time to pay off your debts, Chapter 13 bankruptcy might be the right choice. Instead of discharging debts, Chapter 13 allows you to reorganize your finances and create a manageable repayment plan that typically lasts between 3 to 5 years.



Why Choose Chapter 13 Bankruptcy?

Keep Your Property: Chapter 13 bankruptcy allows you to keep your assets, such as your home, car, and personal property, while catching up on overdue payments.

Affordable Repayment Plan: You will work with your attorney and the court to develop a repayment plan based on your income, allowing you to pay back a portion of your debts over time.

Protection from Creditors: Once you file for Chapter 13, an automatic stay goes into effect, stopping creditors from pursuing collections, including wage garnishment, foreclosure, or repossession.

Tax Relief: Chapter 13 can offer a way to deal with tax debts by including them in your repayment plan.