Legal Question in Bankruptcy in Pennsylvania

Re: ''Default Judgement'',''Sheriffs Sale''??? I think I need help!

In Pennsylvania, there is a 4 year statute of limitations on contract actions. That means that any debt owed for credit cards or loans cannot be collected in a suit which is filed more than 4 years after the date of the last payment. If you made payment on any of this debt within the last 4 years, that will toll the statute.

The first question I have is whether this creditor was paid anything in the last 4 years. If not, you have a complete defense.

However, a bankruptcy is a simple solution to all your debt. It involves one fee and will eliminate all the debt. So the strategy suggested makes sense.

I would feel more comfortable talking to you about it to be sure of the facts and then I could properly advise you on your options. Feel free to call or E-mail for a free initial consult.

Re: ''Default Judgement'',''Sheriffs Sale''??? I think I need help!

Sometimes it makes sense to wait before filing for bankruptcy protection to see if creditors are serious about pursuing debts. You have been sued, so it is clear that at least one is serious. If you are going to have to file for bankruptcy protection sooner or later, I do not see any benefit to waiting until a judgment is entered against you.

Also, the standards for filing Chapter 7 bankruptcy get more stringent as that part of the new bankruptcy bill goes into effect on October 17, 2005. For those who need to file under Chapter 7 (elimination of debts, not reorganization), filing before that date generally is a good idea.