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Harrisburg Legal Blog

How to handle the emotional impact of bankruptcy

No entity, no matter how big or small, is immune from bankruptcy. Recently, Sears has made headlines for having to file for bankruptcy, which has necessitated the closing of many of its Pennsylvania locations. The stores in Pleasant Hills, Allentown and other cities around the state will have to close soon. 

Filing for bankruptcy is a significant decision to make. In addition to the toll it will take on your credit score and future finances, it can also bring about an emotional toll. It is normal to feel angry, depressed or frustrated, but it is vital to manage your feelings so that you can get through this time in a healthy way. 

Can I keep my home even if I file for bankruptcy?

If you are struggling with overwhelming debt and are unable to pay your mortgage, you may be concerned that you could lose your home. Banks are usually quite swift in foreclosing on homeowners who miss their mortgage payments, and depending on how many payments you have missed, you may be at a high risk of foreclosure in the near future.

The risk of foreclosure can bring a lot of anxiety, and you could be contemplating bankruptcy as an option to help you get out from under your debt. A big question that many homeowners contemplating bankruptcy ask is whether they can actually save their homes and file for bankruptcy as well. The answer to this question depends on a variety of factors, including the specific type of bankruptcy you file for.

Mistakes to avoid when filing for bankruptcy

Filing for bankruptcy can provide you with a way to deal with your debts and begin getting your finances in order. To make sure you reap the full extent of the benefits this process offers, it is important to do it properly.

There are some common mistakes people make when embarking upon the bankruptcy process. Steering clear of them can help things go smoothly for you. Additional considerations may apply, depending on your individual situation.

3 common yet avoidable estate planning mistakes

Estate planning is not a popular subject, and it is easy to understand why. Nobody wants to think about the time when they inevitably pass, but it is important to face the future so that your loved ones are adequately cared for. To this end, there are several common mistakes you should avoid that can jeopardize the effectiveness of your estate plan and ultimately create more problems than solutions.

A recent survey conducted by Caring.com reveals that less than half of Americans have created a will. It is important to ensure that when you draft yours it is clear and specific. Avoid the following three missteps to ensure your plan is as effective as possible: 

How will you handle financial issues for property division?

In many marriages, one party usually manages more of the financial responsibilities than the other. For example, your spouse may pay the household bills and make the investments.

When you decide to end your marriage, you need to get up to speed on financial matters. How should you prepare for the property division phase of your divorce?

Chapter 7 filers should prepare to attend the 341 meeting

Perhaps you have decided that your best course of action for getting out of debt is to file for Chapter 7 bankruptcy.

You have taken the means test to confirm that you qualify, so once you have filed your petition, the next step is to prepare for the upcoming 341 meeting.

Do you need an attorney for an uncontested divorce?

An increasing number of people have begun representing themselves in court. Many people take this route to save money or because they believe they would not benefit from a lawyer. However, there can be hundreds of tasks you need to perform to prepare for a court date, so even when it comes to divorce, you are always better off having an attorney in your corner. 

Many couples have an uncontested divorce. This means they agree on all the major issues and want to separate with as little litigation as possible. While an uncontested divorce will most likely result in faster divorce proceedings, both parties would still be wise to acquire legal representation. 

Why you should think twice before using payday loans

If you are thinking about taking out a payday loan because your paycheck was not enough for you to cover your car note, mortgage or electric bill this month you might want to reevaluate your decision. On the surface, payday loans seem like the perfect solution. They make it possible for you to borrow the money you need without having great credit. All you have to do is make sure the money to repay the lender is in your account when it is time for them to receive payment. Simple, right? 

No! There is a dark side to payday loans you should know about. If you are not careful, you could end up digging a deep financial hole for yourself. Here are some things for you to consider before you apply for that loan: 

Improving financial habits for a better post-bankruptcy outcome

Bankruptcy has helped and continues to help Harrisburg area residents get out of debt. Whether you are considering it to help you overcome some major and unexpected medical expenses or to regain a solid financial footing after losing a job, it is not the only thing you must do to benefit from it. 

By law, you can file for bankruptcy multiple times. However, it is best as a necessary and last tactic resource. Take some time to consider additional steps you can take to improve your credit and keep your finances under control after bankruptcy

Key aspects of spousal support in Pennsylvania

During a divorce, the merged lives of two parties must become separate again. As such, there are several different elements to the divorce process

Spousal support is one of the main elements that many divorcing couples face. In the state of Pennsylvania, there are a few key aspects that divorcing parties should understand.

Contact The Law Office Of Cunningham, Chernicoff & Warshawsky, P.C.

Contact our office online, or call us at 717-260-3527 or toll free at 866-534-4404 to set up a meeting with our experienced Harrisburg bankruptcy lawyers. We offer free initial consultations in matters involving bankruptcy or personal injury.

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Harrisburg, PA 17110

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