Bankruptcy In Pennsylvania

Pennsylvania law allows you to use the exemptions found in the U.S. bankruptcy code (11 U.S.C. § 522(d)) or the exemptions provided under Pennsylvania law. The law allows you to only choose one type of exemptions list. This could compose of the following: Real estate such as a residence Trade or professional tools, books, Unmatured [...]

Yes but the trustee can seek to include the money received in your estate. A bad move is selling it to family or friends to avoid losing it in bankruptcy. Usually, the trustee finds out about this a can have the sale reversed, which would put you in a difficult position. One of the best [...]

Yes. Section 341 of the bankruptcy code requires such a meeting to take place, usually scheduled within 20 or 40 days from filing your Chapter 7 bankruptcy. It is strictly a fact- finding informal meeting, where you get to present your assets, income and debts. On the other hand, your creditors are invited yet are [...]

The Bankruptcy Code exemption for a car or automobile is $3,225. This comes under the federal exemption list, not on the Pennsylvania state exemption list. Nonetheless, it is available to you. Your car’s equity is based on its market value, subtracted of the loans on it. If the equity is more than $3,225, it’s possible [...]

The courts must charge a $245 case filing fee, a $39 miscellaneous administrative fee, and a $15 trustee surcharge. Normally, the fees must be paid to the clerk of the court upon filing. With the court’s permission, however, individual debtors may pay in instalments. 28 U.S.C. § 1930(a); Fed. R. Bankr. P. 1006(b); Bankruptcy Court [...]