Bankruptcy

Speak with a compassionate attorney in Western Chester County, Coatesville, and Exton, PA about your bankruptcy law options

In these trying economic times, many people are having difficulties paying their bills and may be wondering if it would be a good idea to file for bankruptcy. With more than 35 years of experience practicing bankruptcy law in Western Chester County the Law Offices of Christopher C. Carr can help you determine how to move forward.

We'll discuss your options in a way that's easy to understand so you can make an informed decision. Once you've made your choice, we'll be there to help with any bankruptcy law concerns you may have. Call today to schedule an appointment.

6 steps of filing for bankruptcy

Wondering what the bankruptcy process looks like? Here are the six main steps:

1. Pre-bankruptcy credit counseling - you must take an approved credit counseling course before you file
2. Filing for bankruptcy - you'll begin your case by filing a petition listing your debts and assets
3. Proofs of claim - your creditors must document their claims of outstanding debts
4. Post-petition credit counseling - you must complete a second credit counseling course which advises about debt management tools to use in the future
5. Liquidation of debtor's estate / creation of repayment plan - which of these takes place will depend on whether you filed for Chapter 7 or Chapter 13 bankruptcy
6. Discharge - after you have completed all these steps, the court will wipe out most of the remainder of your debts

While it certainly isn't easy to file for bankruptcy, it doesn't have to be impossible. Contact the Law Offices of Christopher C. Carr today to get an experienced attorney on your side.

You will not lose your home in a Chapter 13 bankruptcy. The home and all other assets becomes part of the bankruptcy estate and is protected as long as you remain current and pay off the arrears, if any, in the plan. In a chapter 7, you can continue to pay for your home outside the bankruptcy and keep it. If you have arrears, you may be better off with a chapter 13. The same goes for your cars.