Legal Question in Bankruptcy in Pennsylvania

Re: Hoie do I know if I am Bankrupt?

What type of secured debt do you have? Bankruptcy is an option, it would depend on a complete analysis of your debt and finances. I hesitate to give you a definitive answer without seeing the whole financial picture.

Re: Hoie do I know if I am Bankrupt?

Short answer --- I suggest you file. It will certainly improve your emotional and financial situation. READ MY FIRM'S PHILOSOPHY -- EVERYONE DESERVES A FRESH START.

You are essentially asking if you have enough debt to necessitate or qualify for a bankruptcy filing. The Bankruptcy Code does not require a minimum amount of debt and currently there are no limitations to the amount of monthly income you can receive. Many people have the impression that they must be destitute in order to "qualify" for bankruptcy. This is not the case. If your income is high enough that it exceeds your necessary monthly expense (not including payments on credit cards)substantially then you would probably need to file under Chapter 13 instead of Chapter 7 and repay a portion of your debts. In your particular situation I don't know exactly what type of secured debt you have but a good attorney can use strategies for your benefit with respect to some secured debts.

I believe a fresh start you help you tremendously. I need to know what your debts are, especially the secured debt. If you reside in Pittsburgh or Philadelphia I would be happy to serve you. ph. (800) 303-0720