Legal Question in Bankruptcy in Pennsylvania

Bankruptcy - chapter 7 questions

IF I want to file chapter 7,

1. Do I have to be a citizen or permanent resident of US ?

(I am working on H1B visa)

2. Can I retain my current employment and rental apartment?

3. Do I have to show any history to show that I could not make payments to my creditors ?

4. Whats the fee invloved for this and how long does it take for the entire process ?

5. How old the debt shoule be ? Could it be something I borrowed from my creditors a couple-of monthe before ?


Asked on 3/30/03, 7:40 am

1 Answer from Attorneys
Matthew Nahrgang Nahrgang & Associates, P.C.

Re: Bankruptcy - chapter 7 questions

To file a bankruptcy, you must have a social security number. To qualify for a Chapter 7 bankruptcy, your income must be only enough to pay your monthly expenses, exclusive of the debts you seek to discharge. If you have excess income of $500.00 per month or more, you must file a Chapter 13.

You will not lose your employment or your apartment, assuming you remain current with your rent. The standard fee is $1,000.00 for a Chapter 7 and $2,000.00 for a Chapter 13, plus a $200.00 and $185.00 filing fee, respectively.

The age of the debt is only relevant if the creditor seeks to except the particular debt from the discharge. The creditor must prove that you did not intend to repay the debt when you incurred it. If you had no ability to pay it at the time and you made no payments on it, they may consider such action.

I trust this answers your questions, but feel free to call or E-mail on a free initial basis.

Read more
Answered on 3/31/03, 10:26 am


Related Questions & Answers

More Bankruptcy Law questions and answers in Pennsylvania