Legal Question in Bankruptcy in Pennsylvania

Never file bankruptcy unless . . .

1. Your home mortgage has been foreclosed and there is not enough equity in the home to pay off the mortgage.2. You have been sued by a creditor who has rtecovered a judgment and is about to garnish your wages to pay the judgment.3. A prized possession is about to be repossessed and you do not want to lose it.

If ANY of the three choices above applies, consult a bankruptcy attorney in your locale immediately.

Never try to file bankruptcy without an attorney - - you could end up in worse shape than you were in bewfore you filed!

Bankruptcy/Spouse/Disagreement with Mr. West

First, whether your spouse should file bankruptcy with you depends on a number of factors, including whether she is liable onjoint debts; whether you need to take advantage of her exemptions; whether her assets/income are necessary to propose a viable plan in the event a Ch. 11 or 13 isnecessary, and a number of other factors thatdepend on the particular facts. Your attorneyshould be able to advise.

By "what are the pluses and minuses of a plan" I take it you mean the differences between Ch.7 and Ch. 13. Again, there are so many variables that it is not possible to say whichis more appropriate without knowing all the facts. You need to consult in person with anexperienced bankruptcy lawyer.

As for the effect of your filing on your spouse, it depends if you have joint debts orjoint or community assets. If not, your filing Ch. 7 will have little effect on her.If you file Ch. 13, her income can be taken into consideration in determining how much you need to pay into your plan. Again, consult with your lawyer.

As for Mr. West's anti-bankruptcy reply, let me just say that there are countless other reasons for filing bankruptcy. Let me alsosuggest that often, waiting until a judgmentis entered against you can be a fatal mistake,as it could be non-dischargeable in a 7 and/orbe large enough to preclude filng 13. Whilefiling bankruptcy should not be undertakenlightly, it is an appropriate measure for manypeople and businesses who are overburdened bydebt.

What I do agree with Mr. West about is that you should see an experienced bankruptcy lawyer, sooner rather than later, and that youshould never even consider filing bankruptcywithout a lawyer.

Never file bankruptcy unless . . . except when . . .

Mr. Press has a very valid point. Mt earlier cautionary words were overbroad. It is sometimes beneficial to file bankruptcy right after you have been sued, particularly if there is no insurance to cover whatever you are being sued for.

Sometimes, you may file for bankruptcy protection against a debt which, if contested, would be declared nondischargeable and the attorney on the other side will not contest it timely or properly and you get a discharge, anyway.

So, I stand corrected about bankruptcy filing and lawsuits: whenever you are sued, it is a good idea to consult with a bankruptcy attorney and a litigation specialist, together, if at all possible.

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