The Importance of Filing with a Chapter 13 Bankruptcy Attorney–Philadelphia, PA

If you are currently buried under the weight of overdue bills that you cannot seem to pay off, your best option may involve filing for bankruptcy. Although you may feel a certain stigma is attached to bankruptcy. What you may not know is that nearly one million Americans file for protection each year. Bankruptcy does not mean losing everything you own; most clients keep everything they own.

The state of Pennsylvania allows you to choose your exemptions when filing Chapter 7, 11, and 13 filings; William D, Schroeder, will make sure you qualify and will be able to keep your property before filing.

How to Qualify for Chapter 13 Filing

If you have the ability to pay off your debt over time, Chapter 13 filing may be the right option for you. Chapter 13 is also the alternative option for anyone whose income is too high for Chapter 7 filings. The major advantage of a Chapter 13 declaration is that it permits individuals to pay off a small percentage of their unsecured debt they might have using monthly payments.

If you must participate in a Chapter 13 plan, you will likely have to pay off your debt over the course of the plan than can last between 36 –60 months. If your income happens to be lower than the Pennsylvania state medium, you may qualify for a Chapter 7 debt elimination.

It is important that you file all the appropriate legal documents with your accurate financial information; the courts will look at this closely..This is why it is always wise to utilize the services of a bankruptcy lawyer who will lead you through the paperwork and the process to ensure that you receive the best possible result.

Unfortunately, without the help of a bankruptcy attorney, dealing with unrelenting creditors and filling out the confusing paperwork can be stressful. The good news is that William D. Schroeder Jr. is a professional Chapter 13 bankruptcy attorney. Philadelphia residents who are unsure of how to qualify for bankruptcy, or which chapter filing is right for them, are encouraged to contact the William D. Schroeder Jr. law firm today by visiting It is important to remember that bankruptcy declaration and procedure can differ significantly from state to state.

William D. Schroeder, Jr. Attorney at Law
262A Bethlehem Pike, Suite 102
Colmar, PA, 18914
Phone: 215 822 2728