Legal Question in Bankruptcy in Pennsylvania

Declaring Bankruptcy

My daughter and her boyfriend are in serious financial trouble. They've asked to borrow money from me to solve this problem. They need from 8-10 thousand by November 20th, would it be wiser to have them declare bankruptcy? How does one begin the process?


Asked on 10/29/05, 8:05 am

2 Answers from Attorneys
Matthew Nahrgang Nahrgang & Associates, P.C.

Re: Declaring Bankruptcy

Your daughter should consult with a bankruptcy attorney. Under the new law, the threshold question is her and her boyfriend�s gross income. If it is below a certain amount, they may qualify for Chapter 7.

Before she or he may file, they must consult with an approved credit counseling agency. That agency may provide them with help in avoiding bankruptcy. If not, the attorney can then assist them.

Feel free to call or E-mail me on a free initial basis.

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Answered on 10/31/05, 10:58 am
Mark Johns Mark Johns, Esquire

Re: Declaring Bankruptcy

Declaring bankruptcy is a big step especially with the new laws in effect. A couple of situations where Bankruptcy is appropriate would be to save a home from foreclosure where there is current income to pay back the arrears that caused the foreclosure. They should contact a lawyer to discuss their options. I offer free consultations.

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Answered on 10/29/05, 8:24 am


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