Anyone contemplating bankruptcy will want to know how their monthly payments will be calculated, who they are going to pay, and what their exact payment amount will be. At Young, Marr & Associates, our Pennsylvania and New Jersey bankruptcy attorneys understand this concern. However, every Chapter 13 bankruptcy is unique, and the answers to all […] The post How Much Money Do You Have to Repay in Chapter 13 Bankruptcy? appeared first on .

The CARES Act neglected to protect people from creditors, but some lawmakers are working to correct that.April 16, 2020From: The Motley FoolBy: Dan CaplingerThe coronavirus crisis is causing severe financial pain across the U.S., where tens of millions of people have lost their jobs and filed for unemployment benefits in just the past month. For those who have lost income, a federal stimulus check could be vital to their financial well-being right now.Unfortunately, many people who were already having money troubles before the COVID-19 pandemic hit are now running into a new challenge with their stimulus payments. Debt collectors are rushing in to try to grab up those stimulus checks in order to satisfy people's past debts. Because of the way that lawmakers set up the stimulus check program, what those debt collectors are doing appears to be legal -- but it also threatens to undermine the entire point of the program, which was to rush cash to hard-hit Americans so that they could cover their current expenses during this crisis.Despite the best of intentionsThe Treasury Department has worked hard to try to get stimulus money to people rapidly. For those who included direct deposit banking information with their 2018 or 2019 tax returns, the Treasury is using that data to send stimulus payments directly into people's bank accounts. For most people, that's the fastest way to get the money where it needs to go.However, millions of people owe certain kinds of debt for which creditors can garnish bank accounts. That includes just about any type of debt on which collection proceedings have advanced far enough for creditors to get a court judgment. When debt collectors present banks with garnishment orders, banks follow procedures that often include freezing accounts. To regain access to their funds, banks require account holders to provide proof that the money that's come into the account is somehow exempt from garnishment. Most people in debt don't know how to respond effectively to such demands even in the best of times -- let alone when they are stuck in their homes, when bank branches are closed to the public, and when courts aren't functioning at anywhere near normal capacity.Lawmakers could have specifically designated the stimulus payments as exempt from garnishment or debt collection proceedings. However, they didn't include such clear provisions in the CARES Act, which leaves the matter up to legal interpretation. That ambiguity set the stage for debt collectors to act -- and they're acting quickly.Fixing the problemNow that they've identified the problem, legislators at the state level are working fast to address it. State laws govern much of the legal framework around debt collection, so in some states, those receiving stimulus checks already had some protection. Other states are moving to pass emergency legislation that exempts the stimulus payments from debt collection proceedings.Congress could also take action, although it might be difficult for it to do so quickly enough to make a difference. Passing a federal law that reclassifies stimulus money into the same category as other exempt payments would offer everyone across the nation protection.What you can doIf you're already aware that your bank account might be subject to a garnishment order, there are some things you can do to try to protect yourself. They include:Having your stimulus payment sent to a different bank account. Often, garnishment orders will apply to all bank accounts, but if you know that debt collectors have only identified one of your accounts, then having your stimulus money deposited into an account at a different institution might protect it.Getting a physical stimulus check. The IRS is seeking banking information for many Americans through its Get My Payment tool, with the goal of expediting those stimulus payments. However, if you anticipate problems, getting a physical check and cashing it will help keep it from getting locked up in a frozen bank account.With the coronavirus pandemic wreaking havoc on all our lives, the last thing any of us need is for our stimulus checks to get taken away. If you think debt collectors might be looking to take your stimulus payment, don't wait for lawmakers to help you out -- do what you can to protect yourself and your finances.Something big just happenedI don't know about you, but I always pay attention when one of the best growth investors in the world gives me a stock tip. Motley Fool co-founder David Gardner and his brother, Motley Fool CEO Tom Gardner, just revealed two brand new stock recommendations. Together, they've tripled the stock market's return over the last 17 years.* And while timing isn't everything, the history of Tom and David's stock picks shows that it pays to get in early on their ideas.

We Can Help With Uninsured Medical Expenses and Co-Pays from the Coronavirus Experts predict that as many as 70% of all Americans will eventually be infected with COVID-19. This will not only strain our healthcare system infrastructure to its limits, but it will expose the shortcomings of the nation’s methods of funding it. There is no cure or vaccine in sight at the present time. Who will bear the burden of paying uninsured and unreimbursed medical expenses and co-pays due to the novel coronavirus? In the U.S., inevitably, the patient. Even if you have medical insurance, the co-pays could be substantial, and there could be ongoing costs associated with continuing treatment should COVID-19 leave you with lasting ill effects. Medical expenses are unsecured debts that can be discharged in a Chapter 7 or Chapter 13 bankruptcy filing. If you find you cannot pay your medical expenses, or you are paying them but other bills such as credit card debt, your car payment, or your mortgage or rent are unaffordable as a result, contact us. We can help you get a fresh start. Possible Medical Expenses if You Have the Coronavirus Treatment of COVID-19 Symptoms Fever and respiratory distress are the two most severe COVID-19 symptoms. Other symptoms include headache, bodyache and overall malaise, running nose, sore throat, and dry cough. Some have experienced a loss of smell or taste. Most people who have COVID-19 have mild symptoms and soon recover. Those with concerning symptoms are given IV fluids and oxygen. A ventilator is necessary for the severe cases of COVID-19 resulting in pneumonia in both lungs. Who is Most at Risk of Suffering Severe Symptoms? People who are most at risk of suffering severe COVID-19 symptoms are: Adults over the age of 65; Those with chronic underlying medical conditions, such as heart disease, lung disease, kidney disease, liver disease, or diabetes; Those with compromised immune systems; Those who smoke or vape, and; Those who are obese. There is No Cure and No Vaccine for the Coronavirus There is currently no cure, but in the U.S., some severely-affected victims of COVID-19 have responded well to the medication Remdesivir, which was originally designed to treat ebola. The World Health Organization (WHO) has launched an international program to test the efficacy of proven treatments for other illnesses on COVID-19, though this program is in jeopardy due to the U.S. President’s threat to defund the WHO, as President Trump accuses them of covering up for the Chinese. Lack of Medical Insurance Coverage, You Will Have to Pay Current estimates for the cost of treating severe cases may be $20,000, or may be as much as $75,000. Iin truth, no one knows how much treatment for lingering effects of COVID-19 will cost in the years to come. This means there are unknown and perhaps uninsured or under-insured procedures, treatments, and medications you might need to live. When Most Medical Bills Come In, File Bankruptcy Why? Because any expenses you incur after you file a bankruptcy petition will not be discharged in your bankruptcy filing. When you have recovered from COVID-19 and have finished treatment or have received your hospital bills, call us, and we will help you assess your financial situation as a whole. We will look at your other debt, your mortgage or rent, your car payments, and any other expenses you have, and determine which is best for you, whether it is debt settlement, Chapter 7 bankruptcy, or Chapter 13 bankruptcy. Being ill means you have been out of work, and if you have no income, you can’t pay your regular expenses. We can also help you if: you’ve run up your credit card debt due to COVID-19; your credit card lender has sued you or threatened to sue; you are in foreclosure due to COVID-19; you are facing eviction due to COVID-19; your car has been repossessed or you’ve been threatened with repossession due to COVID-19. Get your fresh start after suffering from COVID-19. Call us at (215) 625-9600 for your free, no-obligation consultation. The post How to Deal With Medical Expenses Due to COVID-19 appeared first on David M. Offen, Attorney at Law.

While a worldwide pandemic challenges the nation, police departments across Pennsylvania have instituted procedures to help keep law enforcement officers and the community as safe as possible. Courts have shut down or restricted access, while police departments have increased online communication to deal with non-priority issues. That does not mean there has been a moratorium […] The post Can I Get Arrested on a Warrant in Pennsylvania During COVID-19? appeared first on .

While a worldwide pandemic challenges the nation, police departments across Pennsylvania have instituted procedures to help keep law enforcement officers and the community as safe as possible. Courts have shut down or restricted access, while police departments have increased online communication to deal with non-priority issues. That does not mean there has been a moratorium […] The post Can I Get Arrested on a Warrant in Pennsylvania During COVID-19? appeared first on .

April 17, 2020From: twocents.lifehacker.comBy: Kristin Wong and Lisa RowanBankruptcy is a last resort for people and businesses alike. Many companies file for bankruptcy and continue business as usual; the lesser-known reality is that individuals can file for bankruptcy and emerge in one piece, too.Bankruptcy is poorly understood, so let’s talk about how it affects your finances.The differences between chapter 7, 13, and 11In general, people file for bankruptcy when there’s no way in hell they can meet their debt obligations. Popular assumption is that those people are bad with money and take out too much credit card debt. Sure, that happens, but often, people file bankruptcy after a major financial blow. It might be a lawsuit debacle or an unexpected illness.A lot of people think bankruptcy wipes out any and all debt obligations, but that’s not the case. You still have to pay up, and how you’ll pay up depends on what kind of bankruptcy you file: chapter 7, chapter 13, or chapter 11. There are other types of specific bankruptcies, too (chapter 12 is for farmers and fishermen, for example), but these three are the most common.With chapter 7, you may have to liquidate certain assets (like a car or a second home) to pay off at least some of the debt. Most of your assets are probably exempt, but it depends on your state, your financial situation, and whether or not that asset is deemed “essential.” You have to meet certain eligibility requirements to file, and income is perhaps the most important one. As legal site Nolo explains, there’s a whole set of criteria to determine your income eligibility, but generally, you have to have little to no disposable income.With chapter 13, you get a plan to pay off your debts within the next three to five years, but you get to keep your assets. After it’s all said and done, some of those debts will likely be discharged. You have to qualify, though, and that means your secured debts can’t be more than $1,184,200 and your unsecured debts cannot be more than $394,725. Secured debt is debt that’s backed by collateral, like your house or car.Chapter 11 bankruptcy works kind of like chapter 13, but it's typically reserved for businesses. Businesses can file for chapter 7 bankruptcy, too, but again, that means a liquidation of assets, so chapter 11 is usually a more attractive option. Companies get to keep their stuff and keep their creditors at bay while they continue their operations, but they have to come up with a plan to pay off at least some of their debt, or get it forgiven.What happens when you fileWhen you file for bankruptcy, you get an automatic stay. Basically, this puts a block on your debt to keep creditors from collecting. While the stay is in place, they can’t garnish your wages, deduct money from your bank account, or go after any secured assets.Ironically, bankruptcy isn’t free. The filing fee alone is between $300 and $350 for chapters 7 and 13. And then there are the attorney fees. You can file without a lawyer, but it’s not recommended since bankruptcy laws can be tough to navigate. Attorney fees for chapter 7 average around $1,500, while chapter 13 fees tend to be in the $2,000-$3,000 range. With many attorneys, the more complex your situation, the more you’ll pay.There are ways reduce the legal costs of filing for bankruptcy. Nonprofit Upsolve, for one, helps you generate your bankruptcy filing forms for free if your case is a simple one. Or, your local legal aid society may be able to connect you with low-cost legal services.You’ll also have to take a class or two. The government requires individuals to get credit counseling 180 days before you file, and you also have to take a debtor education course if you want your debts discharged.A couple of weeks after filing, you’ll have to attend a “creditors meeting,” which is basically what it sounds like: a court meeting between you, your bankruptcy trustee, and any creditors who want to attend. They’ll all ask you questions about your financial situation and decision to file bankruptcy.Your assets get liquidated with chapter 7 Nolo says that in most cases, chapter 7 debtors don’t have to liquidate their property (unless it’s collateral) because it’s usually exempt or it’s just not worth it. They explain:If the property isn’t worth very much or would be cumbersome for the trustee to sell, the trustee may “abandon” the property — which means that you get to keep it, even though it is nonexempt...Most property owned by Chapter 7 debtors is either exempt or is essentially worthless for purposes of raising money for the creditors. As a result, few debtors end up having to surrender any property, unless it is collateral for a secured debt…After the creditors meeting, your trustee will figure out whether or not to liquidate your stuff. If it does get liquidated, that means you’ll have to either surrender it or fork over its equivalent cash value to pay back your debt.You get a payment plan with chapter 13 With chapter 13, you get a plan to pay off your debts, and some of them have to be paid in full. These debts are “priority debts,” and they include alimony, child support, tax obligations, and wages you owe to employees.Your plan is based on how much you owe and what your income looks like, and it will include how much you have to pay and when you have to pay it.What happens to your creditYour credit score will plummet with a bankruptcy. The higher your score, the more it’ll fall. FICO notes that the more accounts are involved in your bankruptcy filing, the greater an impact you’ll see to your score.In general, chapter 7 bankruptcy remain on your credit report for 10 years, and chapter 13 stays on for seven.After bankruptcy is all said and done, most debts are discharged, but not all of them.In some cases, student loans can be discharged after a bankruptcy, but you have to pass a federal test for hardship.Other difficult-to-discharge debts include:Tax debtsAlimony and child supportDivorce-related debts, including property settlement debtsBankruptcy is usually a desperate remedy to a helpless situation. But knowing how it works and what to expect can help you navigate some of the misconceptions and figure out what the process actually entails.This post was originally published in 2016 and was updated on 4/17/2020 by Lisa Rowan. Updates include: Checked links for accuracy; updated formatting to reflect current style; revised article to focus on bankruptcy methods for individuals; updated monetary requirements and averages.

While the country is at a standstill, any financial strain you were experiencing prior to the COVID-19 outbreak is likely to increase. It is possible that you were contemplating or were in the midst of filing for personal bankruptcy when the crisis began. The United States Bankruptcy Court of the Eastern District of Pennsylvania remains […] The post Can I File Bankruptcy in Pennsylvania Because of COVID-19? appeared first on .

While the country is at a standstill, any financial strain you were experiencing prior to the COVID-19 outbreak is likely to increase. It is possible that you were contemplating or were in the midst of filing for personal bankruptcy when the crisis began. The United States Bankruptcy Court of the Eastern District of Pennsylvania remains […] The post Can I File Bankruptcy in Pennsylvania Because of COVID-19? appeared first on .

Filing Bankruptcy is Still Possible During COVID-19 Soc­­ial Distancing­­­ On 4/15/2020 My Arizona Lawyers bankruptcy attorneys and staff write: Filing Bankruptcy during COVID-19.  Check out our Coronavirus FAQ’s.  Whether you were on the brink of bankruptcy before the pandemic started, or if quarantine measures have drastically reduced your income, you may be wondering if bankruptcy is still an option for you. Like everyone else, bankruptcy professionals have had to change the way they operate- but filing is still possible. You Can Still Filing Bankruptcy During COVID-19 You will first need to decide which chapter of bankruptcy you need to file.  Next,  if you will use a lawyer, and decide which bankruptcy lawyer you are using. Plus, if you have low income and mostly dischargeable debts such as medical bills and credit cards, Chapter 7 may be the best option for you. Stopping Foreclosure and Repossession by Filing Bankruptcy Therefore, if you are trying to save a home or vehicle from foreclosure or repossession, have filed a Chapter 7 bankruptcy in the last 8 years, or have moderate to high income but simply can’t pay your debts, Chapter 13 bankruptcy in Phoenix may be a better choice for you. You should be able to discuss which chapters you qualify for in a bankruptcy consultation. Legal services have been declared essential in Arizona, so many law offices are still operating. Find an office that offers phone consultations. Our Arizona bankruptcy law firm offers FREE phone consultations for debt relief. Once you have picked a lawyer and determine which chapter you will file, you will need to submit your documents to your attorney so they can draft your petition. Plus,  some bankruptcy offices may offer a secure client portal to upload your documents.  Also, most BK law firms should accept email, fax, or standard mail. You should not need to drop off your documents in person during a stay-at-home order.  Additionally, you will also need to take a credit counseling course before you file, which can also be conducted online. Telephonic Bankruptcy Petition Signing The next step to filing your bankruptcy would typically be to come into the office.  Once in office, you would then review your petition with an attorney.  The bankruptcy attorney would then file your case. Although a petition signing wouldn’t be over the legal limit for a gathering right now, many offices are offering telephonic petition signings to protect themselves and their clients.  Our Phoenix bankruptcy office is also doing Zoom and Video petition signings.  Additionally, we offer a Zero Down Bankruptcy Filing Option. Another way of maintaining social distancing during your bankruptcy would be that your attorney can mail you a declaration of electronic filing with attached return postage. Though this is a slower process, it is safe.  Next, you will review the petition with your attorney over the phone.  Then, you sign the bankruptcy petition and mail back the declaration of electronic filing.  Finally, your bankruptcy lawyer will then electronically file your case. The next and potentially final time you would have to appear in person for a bankruptcy is your 341 Meeting of Creditors. Because the court typically schedules many cases to be heard in a 30 minute time frame, continuing as usual simply isn’t possible. Currently, all 341 hearings scheduled through May 10, 2020, will be held remotely. This date may extend as government officials assess the situation. If you, like many residents of Arizona, are struggling financially during an already-stressful pandemic, you don’t have to wait for quarantine orders to be lifted to seek out help. Our Arizona bankruptcy services offers free phone consultations and complete remote bankruptcies for the time being. Contact our bankruptcy office and schedule your free consultation today. Arizona Bankruptcy Law Offices: Mesa Location: 1731 West Baseline Rd., Suite #100 Mesa, AZ 85202 Office: (480) 637-3427 Email: [email protected] Website: https://myazlawyers.com/ Glendale Location: 20325 N 51st Avenue Suite #134, Building 5 Glendale, AZ 85308 Office: (602) 610-0132 Tucson Location: 2 East Congress St., Suite #900-6A Tucson, AZ 85701 Office: (520) 231-2822 Avondale Location: 12725 W. Indian School Rd., Ste E, #101 Avondale, AZ 85392 Office: (623) 469-6603 The post Filing Bankruptcy is Still Possible During COVID-19 Soc­­ial Distancing­­­ appeared first on My AZ Lawyers.

Filing Bankruptcy is Still Possible During COVID-19 Soc­­ial Distancing­­­ On 4/15/2020 My Arizona Lawyers bankruptcy attorneys and staff write: Filing Bankruptcy during COVID-19.  Check out our Coronavirus FAQ’s.  Whether you were on the brink of bankruptcy before the pandemic started, or if quarantine measures have drastically reduced your income, you may be wondering if bankruptcy is still an option for you. Like everyone else, bankruptcy professionals have had to change the way they operate- but filing is still possible. You Can Still Filing Bankruptcy During COVID-19 You will first need to decide which chapter of bankruptcy you need to file.  Next,  if you will use a lawyer, and decide which bankruptcy lawyer you are using. Plus, if you have low income and mostly dischargeable debts such as medical bills and credit cards, Chapter 7 may be the best option for you. Stopping Foreclosure and Repossession by Filing Bankruptcy Therefore, if you are trying to save a home or vehicle from foreclosure or repossession, have filed a Chapter 7 bankruptcy in the last 8 years, or have moderate to high income but simply can’t pay your debts, Chapter 13 bankruptcy in Phoenix may be a better choice for you. You should be able to discuss which chapters you qualify for in a bankruptcy consultation. Legal services have been declared essential in Arizona, so many law offices are still operating. Find an office that offers phone consultations. Our Arizona bankruptcy law firm offers FREE phone consultations for debt relief. Once you have picked a lawyer and determine which chapter you will file, you will need to submit your documents to your attorney so they can draft your petition. Plus,  some bankruptcy offices may offer a secure client portal to upload your documents.  Also, most BK law firms should accept email, fax, or standard mail. You should not need to drop off your documents in person during a stay-at-home order.  Additionally, you will also need to take a credit counseling course before you file, which can also be conducted online. Telephonic Bankruptcy Petition Signing The next step to filing your bankruptcy would typically be to come into the office.  Once in office, you would then review your petition with an attorney.  The bankruptcy attorney would then file your case. Although a petition signing wouldn’t be over the legal limit for a gathering right now, many offices are offering telephonic petition signings to protect themselves and their clients.  Our Phoenix bankruptcy office is also doing Zoom and Video petition signings.  Additionally, we offer a Zero Down Bankruptcy Filing Option. Another way of maintaining social distancing during your bankruptcy would be that your attorney can mail you a declaration of electronic filing with attached return postage. Though this is a slower process, it is safe.  Next, you will review the petition with your attorney over the phone.  Then, you sign the bankruptcy petition and mail back the declaration of electronic filing.  Finally, your bankruptcy lawyer will then electronically file your case. The next and potentially final time you would have to appear in person for a bankruptcy is your 341 Meeting of Creditors. Because the court typically schedules many cases to be heard in a 30 minute time frame, continuing as usual simply isn’t possible. Currently, all 341 hearings scheduled through May 10, 2020, will be held remotely. This date may extend as government officials assess the situation. If you, like many residents of Arizona, are struggling financially during an already-stressful pandemic, you don’t have to wait for quarantine orders to be lifted to seek out help. Our Arizona bankruptcy services offers free phone consultations and complete remote bankruptcies for the time being. Contact our bankruptcy office and schedule your free consultation today. Arizona Bankruptcy Law Offices: Mesa Location: 1731 West Baseline Rd., Suite #100 Mesa, AZ 85202 Office: (480) 637-3427 Email: [email protected] Website: http://myazlawyers.com/ Glendale Location: 20325 N 51st Avenue Suite #134, Building 5 Glendale, AZ 85308 Office: (602) 610-0132 Tucson Location: 2 East Congress St., Suite #900-6A Tucson, AZ 85701 Office: (520) 231-2822 Avondale Location: 12725 W. Indian School Rd., Ste E, #101 Avondale, AZ 85392 Office: (623) 469-6603 The post Filing Bankruptcy is Still Possible During COVID-19 Soc­­ial Distancing­­­ appeared first on My AZ Lawyers.