Legal Question in Credit and Debt Law in Pennsylvania

Re: civil law suit for credit card debt

You asked about debt.

Debt management companies almost never solve the problem. I'm sure there are success stories, but I have never heard one.

If you really are drowning in credit card debt then you need to consider grabbing a life ring. This would be bankruptcy. There are generally two forms that individual's may consider, Chapter 7 and Chapter 13. Unfortunately Congress took away your right to determine which chapter is better for you. People with jobs providing wages at the median for there area are generally resigned to Chapter 13, which will mean liquidation of certain assets and repayment of most debts over a 3 to 5 year period. After that time any remaining debt would be discharged.

Chapter 7 allows you to keep a car (sometimes two) as long as their values are below a certain amount. You can also keep a moderate amount of personal goods. You even get to save a substantial amount of the equity in an owned home. Any personal or real property exceeding the exempted amount would be liquidated by a trustee.

Consult with an attorney regarding your options immediately. No matter what you must respond to the summons in the pending case, either by yourself or through an attorney.

Regards,

Roger

Re: civil law suit for credit card debt

Consider speaking with an attorney about bankruptcy and other actions you can take. I am originally from around Pittsburgh and do a lot of business there. I also have attorney friends in the rest of the state. Shoot me an e-mail and I may be able to help.