Facing the possibility of bankruptcy can be incredibly unsettling, causing a deep sense of worry and anxiety. It’s a distressing situation that people across Northeastern Pennsylvania (NEPA), from Scranton to Wilkes-Barre, are all too familiar with. The relentless calls from creditors that never seem to stop, each ring echoing the dire financial situation one faces,…
The Federal Exemptions As Established By Congress The federal exemptions are found in section 522(b) of the Bankruptcy Code. The Debtor’s interest (value minus secured debt, as an example, if the debtor owns a house worth $50,000 subject to a mortgage of $50,000 the debtor’s interest is $10,000) in the following: (1) residential exemption: Real(such…
No one likes to think about leaving their loved ones behind, but an estate plan is the only way to guarantee that they will be taken care of in the future. At Gurdin Law, we get it—thinking about what happens when you’re gone isn’t exactly anyone’s favorite topic. However, having your affairs in order is…
At Gurdin Law, we get it – dealing with bankruptcy is no walk in the park. Whether you’re an individual grappling with frozen assets or a business owner staring down the barrel of foreclosure, the stress and uncertainty can be overwhelming. Repossessions add another layer of dread to an already tough situation, making you feel…
Reaffirming a debt means that the debtor agrees to be responsible for a debt that would otherwise be discharged. This procedure most frequently arises when a chapter 7 debtor has a secured vehicle loan. The loan agreement provides that if the debtor files for bankruptcy, that filing is a default and the lender can now…
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