HouseDigest.com has an excellent article about What You Need To Know About Buying A Home After Bankruptcy. The article can be found at   https://www.housedigest.com/1179558/what-you-need-to-know-about-buying-a-home-after-bankruptcy/Jim Shenwick, Esq has helped many bankruptcy filers rehabilitate their credit after a bankruptcy filing so they can purchase houses or lease automobiles.  Jim Shenwick, Esq  jshenwick@gmail.com  917 363 3391

If you just learned of an upcoming sheriff’s sale of your property in Pennsylvania, call our lawyers. Our attorneys can help you stop a sheriff’s sale by filing for bankruptcy. Stopping a sheriff’s sale is important for debtors in Pennsylvania. Apart from paying any outstanding debts in full, filing for bankruptcy may be the best and easiest way to stop an impending sheriff’s sale, apart from immediately paying back creditors. When you file for bankruptcy in Pennsylvania, an automatic stay will go into effect. This will stop a sheriff’s sale until you are able to repay your debts, whether through a repayment plan or liquidation. Don’t wait to contact our attorneys after being notified of a sheriff’s sale, as doing so leaves you with little control over how you repay your debts. We’re here to help debtors in Pennsylvania stop sheriff’s sales by filing for bankruptcy. For a free case evaluation with the Pennsylvania bankruptcy lawyers at Young, Marr, Mallis & Associates, call today at (215) 701-6519. How Can I Stop a Sheriff’s Sale in Pennsylvania? A judge might order a sheriff’s sale if you have significant outstanding debt in Pennsylvania, especially if you are behind on your mortgage payments. This might result in your real estate or personal property being taken to satisfy any debt you owe. Stopping a sheriff’s sale is paramount, so you don’t lose your property. But how can you do this in Pennsylvania? The simplest way to stop a sheriff’s sale in Pennsylvania is to pay any outstanding debts to creditors in full. As our Pennsylvania bankruptcy lawyers know, this is easier said than done and most likely not an option if a sheriff’s sale is on the horizon. Another option is to get a court order to postpone a sheriff’s sale, which might be possible, depending on the reason for a sheriff’s sale. Accomplishing this may be a lengthy process in Pennsylvania. Not to mention, getting a court order to stop a sheriff’s sale may be difficult if you can’t find a way pay your debts in full. Typically, the most practical way to stop a sheriff’s sale from happening entirely is by filing for bankruptcy in Pennsylvania, provided you can’t pay off your debts in time. Our Philadelphia bankruptcy lawyers can walk you through this process so that you don’t have to go through with a sheriff’s sale of your property. How Can Filing for Bankruptcy Stop a Sheriff’s Sale in Pennsylvania? Sheriff’s sales can feel violating for debtors in Pennsylvania. You don’t have any control over the process, and your property may be auctioned off without your involvement. This can be devastating and discouraging to people with debt who don’t see a path forward. To stop a sheriff’s sale and gain control over your financial situation, contact our Pennsylvania bankruptcy lawyers Filing for bankruptcy can stop a sheriff’s sale and set you on the path of repayment to creditors in Pennsylvania. When debtors file for bankruptcy in Pennsylvania, an automatic stay will go into effect. This prevents creditors from hassling you to pay them and puts a stop to an impending sheriff’s sale. The next step is determining how you plan to repay your creditors. Remember, sheriff’s sales typically happen when creditors approach a judge because of a debtor’s outstanding debt. The only real way to stop a sheriff’s sale for good is to address your debt. Depending on the type of bankruptcy you file for, you may be able to pay back creditors without losing assets that might be otherwise sold in a sheriff’s sale. For example, Chapter 13 bankruptcy works through repayment plans. Our Bala Cynwyd bankruptcy lawyers can devise a repayment schedule that allows you to repay creditors within several years. To be able to file for chapter 13 bankruptcy, you have to pass a means test. If you don’t earn enough income, you may have to file for liquidation bankruptcy, also known as Chapter 7 bankruptcy in Pennsylvania. What Should I Do If I am Notified of a Sheriff’s Sale in Pennsylvania? Contact our attorneys if you are notified of an impending sheriff’s sale of your personal property or real estate in Pennsylvania. It is important to act quickly and make a plan for addressing your debt so that you don’t lose your assets through a sheriff’s sale. Don’t ignore a notice of a sheriff’s sale. If you do, you may be unable to stop it and might end up losing certain assets to cover your outstanding debts to creditors. Instead, call our attorneys to learn your options for repayment that don’t involve a sheriff’s sale. You might feel understandably confused, violated, and scared when notified of a sheriff’s sale. It can seem like you don’t have any control over your property and that they can be taken away without your approval. To prevent that from happening, call our lawyers and consider filing for bankruptcy. While filing for bankruptcy can have a negative connotation, it doesn’t have to. Think of bankruptcy as a tool to help you reclaim your financial stability. Our attorneys can help explain the benefits of filing for bankruptcy and why it is preferable to allowing a sheriff’s sale to happen without intervention. Don’t wait to act after being notified of an impending sheriff’s sale of your personal or real property in Pennsylvania and contact our attorneys immediately. Ask Our Pennsylvania Lawyers About Filing for Bankruptcy to Stop a Sheriff’s Sale Today If you want to avoid a sheriff’s sale in Pennsylvania, our attorneys can help. For a free case evaluation with the Easton, PA bankruptcy lawyers at Young, Marr, Mallis & Associates, call today at (215) 701-6519.

Please click the link to schedule a telephone call with me.  https://calendly.com/james-shenwick/15min

If you missed a few car payments and are concerned your vehicle may be repossessed, call our attorneys to learn about filing for bankruptcy in Pennsylvania. In many cases, our lawyers can stop a car repossession in Pennsylvania. When you file for bankruptcy, an automatic stay will go into effect, preventing lenders from taking your vehicle. If you file for Chapter 13 bankruptcy, you may even get your car back if it has already been repossessed and be able to settle outstanding payments through a repayment plan. If you file for Chapter 7 bankruptcy, getting your car back after it has been repossessed can be more challenging, though still possible with help from our attorneys. Act quickly if your car is in danger of being repossessed, and contact our lawyers immediately. If you’re struggling to make your car payments and are worried your vehicle might be repossessed, reach out to our attorneys. For a free case evaluation with the Pennsylvania bankruptcy lawyers at Young, Marr, Mallis & Associates, call today at (215) 701-6519. How Can Filing for Bankruptcy Stop a Car Repossession in Pennsylvania? If your car has recently been repossessed in Pennsylvania, or you just received notice from a lender informing you that your car will be repossessed, call our attorneys. Our lawyers can help you file for bankruptcy quickly so that you don’t lose your car in Pennsylvania. Automatic Stay As soon as you file for bankruptcy in Pennsylvania, an automatic stay will go into effect. This stops any debt-collection efforts from lenders or creditors, including efforts to repossess and sell your vehicle. This can provide immediate relief to debtors, especially those threatened with car repossession. Once an automatic stay goes into effect, our Bensalem bankruptcy lawyers will have time to devise a plan to move forward so that you don’t lose your car and can settle any outstanding debt you may owe to a lender. Repayment Plan Contact our Allentown bankruptcy lawyers if you default on your car loan and your lender has notified you that they intend to repossess your vehicle. If you earn enough income to support a repayment plan to creditors, you may be able to file for Chapter 13 bankruptcy. This can allow you to stop a possible car repossession and continue to make payments on the car as part of your repayment plan. Chapter 13 bankruptcy does not require debtors to liquidate assets such as their vehicles to pay for debts. If your car has already been taken, filing for Chapter 13 bankruptcy with help from our attorneys may allow you to get your vehicle back. Can You Get Your Car Back After it Has Been Repossessed in Pennsylvania? Getting your car back after being repossessed can be challenging in Pennsylvania. The best way to address this issue is to avoid it entirely and file for bankruptcy as soon as you are notified that your car may be repossessed. If you qualify to file for Chapter 13 bankruptcy, you may be able to get your car back after filing. That’s because Chapter 13 bankruptcy works through repayment plans, not liquidation of assets. If the repayment plan accounts for the car payments, it may be possible to have the car returned as part of the plan. That said, not everyone in Pennsylvania is eligible to file for Chapter 13 bankruptcy. If you don’t earn enough income to support a repayment plan to creditors, you may not pass the means test might be left with Chapter 7 bankruptcy as your only option. Pennsylvania does not have a specific vehicle exemption for Chapter 7 bankruptcy, meaning you might lose your car through liquidation, especially if it has already been repossessed before filing. However, if you contact our attorneys, you may be able to get your car back despite filing for Chapter 7 bankruptcy in Pennsylvania. Our lawyers may be able to help you reaffirm your loan, allowing you to cover previously unmet payments so that you don’t lose your car. Depending on your finances, you may be able to redeem your car and make a lump sum payment to your lender. Although Pennsylvania doesn’t have a specific car exemption for Chapter 7 bankruptcy, it does have a wildcard exemption, allowing debtors to protect up to $300 in equity in any property. You may be able to put this exemption toward owed car payments or use a federal exemption, allowing you to get your car back after it has been repossessed. Why Should You Call Our Lawyers if Your Car is Being Repossessed in Pennsylvania? If you’ve missed even one car payment in Pennsylvania, your vehicle might be at risk of being repossessed. Because of that, it is important to call our attorneys immediately, especially if you cannot pay back your creditors without filing for bankruptcy. In Pennsylvania, a lender can repossess your car without notice if you default on your loan. Though lenders typically do give notice, it may not be much, leaving borrowers in a difficult situation. Failing to make a payment today might result in your car being repossessed tomorrow. To prevent that from happening, reach out to our Quakertown bankruptcy lawyers. While filing for bankruptcy might seem like a drastic measure after missing a few car payments, it is not. Lenders can repossess your car without warning, leaving you without reliable transportation. Our attorneys can act quickly and help you file for bankruptcy immediately, so your car is not taken. Then, our lawyers can devise a repayment plan that enables you to pay off any outstanding amounts to keep your vehicle and regain your financial stability in Pennsylvania. Call Our Pennsylvania Lawyers to Stop a Car Repossession If your car is at risk of being repossessed in Pennsylvania, our attorneys can help. For a free case evaluation with the Philadelphia bankruptcy lawyers at Young, Marr, Mallis & Associates, call today at (215) 701-6519.

Beginning in January 2023, millions of small businesses will have to budget for a new monthly expense. During the pandemic, federal loans granted to small businesses will begin repayment, according to a story at  https://abc11.com/small-business-ppp-loans-pandemic/12721676/Many small businesses will now have to begin repaying their SBA EIDL loans despite a difficult business environment, including high interest rates and inflation. This may result in many businesses filing for chapter 7 bankruptcy or closing. Jim Shenwick, Esq  jshenwick@gmail.com   917 363 3391

Suppose you recently received a notice of overpayment for Social Security Disability Insurance (SSDI) benefits. What does this notice mean, and what will happen if you don’t pay back the difference? You might face serious consequences if you don’t pay back an SSDI overpayment. The Social Security Administration (SSA) might temporarily pause your monthly benefits. Your federal tax refund and employment check might be affected, as well as your credit. That said, it’s important to consult our attorneys before paying back a supposed overpayment. The SSA might have mistakenly sent you a notice of overpayment. In that case, you may not owe the SSA anything. To avoid any consequences from an overpayment of SSDI benefits, contact our lawyers after receiving a notice from the SSA. We’re here to help SSDI benefit recipients navigate an overpayment of benefits. For a free case evaluation with the Pennsylvania disability attorneys at Young, Marr, Mallis & Associates, call today at (215) 515-2954 or (609) 557-3081. What Can Happen if You Don’t Pay Back an SSDI Overpayment? If you receive a notice of overpayment for SSDI benefits from the Social Security Administration, it’s important to respond quickly. Failure to pay back the difference to the SSA might result in serious consequences. The first thing that might be impacted is your future disability benefits. The SSA might also take a portion of your federal refund or employment check. The SSA might even report recipients’ nonpayment to credit bureaus in serious situations. Loss of Benefits If you don’t repay the SSA for an overpayment of SSDI benefits, your access to future benefits may be in jeopardy. Typically, the SSA will halt future SSDI benefit checks for the time that an overpayment is unresolved. This might seriously impact recipients who rely on SSDI benefit checks to support themselves and their families. Our disability attorneys can help you quickly address a notice of overpayment so that you don’t lose access to your SSDI benefits, temporarily or permanently. Loss of Percentage of Federal Refund Check When SSDI recipients don’t pay back on an overpayment, they might lose a portion of their federal refund check. After you file your taxes, you typically receive a refund check from the federal government. The SSA is a federal agency, which means it can easily remove funds from your refund check to put toward repayment for overpaid SSDI benefits. Loss of Percentage of Employment Check Some SSDI benefit recipients continue to work a part-time job that allows them to earn additional income while staying under the substantial gainful activity threshold. If you owe the SSA money for a disability check that was too large, the SSA might take funds out of your employment check to make up the difference. Consequences to Credit Refusal to pay back the SSA for an overpayment of SSDI benefits might result in a hit to your credit. The SSA might report your nonpayment to a credit bureau, which might impact your financial well-being and ability to do certain things. Unfortunately, some recipients that do not keep track of their SSDI checks or miss a notice of overpayment might not realize this until it is too late. Our Philadelphia disability attorneys can help you monitor your SSDI checks so that you can recognize an overpayment and avoid damaging your credit. What if You Did Not Receive an SSDI Overpayment? What if you receive a notice of overpayment from the Social Security Administration, but something’s not adding up? If the SSA informs you of a recent overpayment, don’t pay it back until consulting with our disability attorneys. While rare, the SSA might send an incorrect overpayment notice to an SSDI recipient. Naturally, recipients might want to act quickly once they receive a notice and send the difference back to the SSA immediately. Before you do, contact our attorneys. Clerical issues and other problems might result in an incorrect notice of overpayment from the SSA. Before you send payment back to the SSA, consult our lawyers. Our attorneys can review your previous disability benefit checks from the SSA to determine if there has been a recent change. Our lawyers can also review the SSA’s reasoning for an overpayment to determine if it’s correct. If the SSA incorrectly adjusted your SSDI benefit based on wrong information, our attorneys can identify any mistakes. You do not have to pay back the SSA for the disability payments you deserve. If you received an incorrect notice of overpayment from the SSA, our Bucks County disability lawyers can help you file an appeal to resolve the matter. We can help you gather the necessary information to prove to the SSA that it did not send you too much money in a month so that you can move forward and not pay back money that’s yours. How to Avoid Consequences from Happening for Not Paying Back an SSDI Overpayment Not repaying the SSA for an overpayment of SSDI benefits is a serious issue. If you are in such a situation, contact our lawyers. Our attorneys can help you take the necessary steps to repay the SSA quickly to avoid any possible consequences. Typically, the SSA requires SSDI recipients to respond to a notice of overpayment within 30 days. This is not much time, especially for recipients who do not keep track of their monthly payments. Issues with the mail or changes in address might also result in a delayed response to the SSA. Contact our attorneys to avoid consequences for not paying back an SSDI overpayment. Our lawyers can help you gather the necessary information to confirm an overpayment and pay back the SSA in a timely fashion. By calling our attorneys and acting quickly, you can quickly resolve any overpayments from the SSA so that your access to benefits is not affected. Call Our Attorneys if You Were Overpaid SSDI Benefits If you need help paying back the SSA for an overpayment of disability benefits, reach out to our lawyers. For a free case evaluation with the Allentown disability attorneys at Young, Marr, Mallis & Associates, call today at (215) 515-2954 or (609) 557-3081.

Turning Chapter 13 Bankruptcy Into Chapter 7 Bankruptcy Changing Your Bankruptcy Case In Arizona You may be feeling like your financial future is bleak. You might wonder how you will ever repay all your debt, let alone improve your finances. Luckily, there are ways to improve any financial struggle so you can have a fresh start.  One of them is Chapter 13 bankruptcy. It is a legal process that allows you to reduce or eliminate your outstanding debts by refinancing them. This option can allow you to keep your home, vehicle, and other assets. Chapter 7 bankruptcy is similar but eliminates all of your assets except for personal possessions worth $3,000 or less. Both Chapter 13 and Chapter 7 bankruptcy have their pros and cons. However, either option can help restructure your debts and improve your financial situation.  Before making any bankruptcy decisions, consult an experienced Mesa bankruptcy attorney and read the following information to learn more about your case and options. When Is It Possible To Change To Chapter 7? You can switch your Chapter 13 case to Chapter 7 anytime you need, but only if you haven’t earned a Chapter 7 bankruptcy discharge within the last eight years. Just remember that you should have also met the criteria.  Reasons To Change Your Case Most debtors typically switch from Chapter 13 to Chapter 7 bankruptcy because: They can no longer pay the Chapter 13 plan payments due to a change in their economic state, or They want to give up an item that Chapter 13 was intended to save, like a house or automobile. How To Change Your Case To convert your case, you must submit a motion to the bankruptcy court. Your bankruptcy attorney will be able to advise you on what is required in bankruptcy court if you need to notify your creditors of the conversion. Usually, the paperwork you submitted for your Chapter 13 case will also be necessary in your Chapter 7 case. However, even if nothing has changed, some courts need you to file a new set of forms. Keep in mind that your Tucson bankruptcy attorney will guide you with the required paperwork.  Additionally, you will have to submit a Statement of Intention, which is necessary for Chapter 7 but not for Chapter 13. Are You Eligible For Bankruptcy Under Chapter 7? If you switch to Chapter 7, you must still be eligible for Chapter 7 to continue with the case. Chapter 7 has many eligibility conditions. The means test is the most difficult for most people, especially because this test considers earnings and expenses. If you have an excess income, you may not be qualified for Chapter 7.  It is unclear if the means test applies to converted cases. Some courts require debtors in converted cases to pass the means test, while others do not. Your bankruptcy lawyer will be able to clarify the bankruptcy law for you. What Happens When You Change Your Bankruptcy Case? You will be assigned another Chapter 7 bankruptcy trustee as soon as you switch your case. You will also have to attend a fresh creditors’ meeting (also called the 341 hearing).  As previously mentioned, you don’t have to submit a fresh bankruptcy petition. However, you may need to fill in more paperwork and change schedules after converting the case.  Your Phoenix bankruptcy attorney can help you with all the documentation required to avoid any mistakes.  In some situations, you might need to file updated schedules I and J to reflect your current budget to demonstrate that your financial situation has changed and you cannot continue making Chapter 13 payments.  The Court may also seek a declaration stating your reasons for converting. You must also submit a Statement of Intention to inform the court of your plans for the property that serves as security. It is necessary for any secured debts you have, such as a mortgage, auto loan, or other loans. You must also reveal whether you incurred any post-petition obligations or gained any post-petition assets while in the Chapter 13 case. The Bankruptcy Court May Order You To Convert From Chapter 13 To Chapter 7 In some cases, the court may order you to switch from Chapter 13 to Chapter 7 bankruptcy so that your non-exempt assets can be liquidated to settle your debts.  The most frequent reasons a court may order you to convert include falsifying information in your bankruptcy paperwork, concealing assets, declaring bankruptcy expressly to impede or delay creditors, or abusing the bankruptcy process. Contact The Experts Contact My AZ Lawyers if you are unsure about which chapter of bankruptcy to file or if you are worried about being able to fulfill your payments under a chapter 13 bankruptcy repayment plan.  Our well-trained bankruptcy lawyers will take the time to go through your alternatives with you and help you choose the best bankruptcy chapter for your situation. Arizona Offices: Mesa Location: 1731 West Baseline Rd., Suite #100 Mesa, AZ 85202 Office: (480) 448-9800 Email: info@myazlawyers.com Website: https://myazlawyers.com/ Phoenix Location: 343 West Roosevelt, Suite #100 Phoenix, AZ 85003 Office: (602) 609-7000 Glendale Location: 20325 N 51st Avenue Suite #134, Building 5 Glendale, AZ 85308 Office: (602) 509-0955 Tucson Location: 2 East Congress St., Suite #900-6A Tucson, AZ 85701 Office: (520) 441-1450 Avondale Location: 12725 W. Indian School Rd., Ste E, #101 Avondale, AZ 85392 Office: (623) 469-6603 The post Turning Chapter 13 Bankruptcy Into Chapter 7 Bankruptcy appeared first on My AZ Lawyers.

Party City files for Bankruptcy with plans to restructure mounting debt-is the party over?CNBC is reporting that Party City has filed for Bankruptcy protection. The story can be found at  https://www.cnbc.com/2023/01/18/party-city-files-for-bankruptcy-to-restructure-piling-debt.htmlJim Shenwick, Esq.   212 541 6224  jshenwick@gmail.com

My Customer Filed Chapter 11 – Do I Failure to file a proof of claim can limit or eliminate your participation and recovery

   In the first court of appeals ruling on the issue, the 10th Circuit Court of Appeals ruled that chapter 13 trustees were not entitled to retain trustee fees in cases that were not confirmed.   Goodman v. Doll (In re Doll), 2023 U.S. App. LEXIS 1073 (10th Cir., 18 January 2023).   The case involved the usual situation of a debtor paying in fees before confirmation, but ultimately not getting the case confirmed.  The court interpreted a number of statutes in making such determination.        28 U.S.C. 586(e)(2) provides that the standing trustee shall collect' his fee from all payments received under chapter 13 reorganization plans  for which he serves as trustee.  11 U.S.C. 1362(a)(1) provides that a chapter 13 debtor shall commence payments within 30 days of filing a chapter 13 plan.  Given that such payments usually commence prior to confirmation, 11 US.C. 1362(a)(2) directs the trustee to retain these payments until the confirmation hearing.  However, §1362(a)(2) also provides that if the plan is not confirmed, the trustee shall return any such preconfirmation payments to the debtor.[a] payment made under paragraph (1)(A) shall be retained by the trustee until confirmation or denial of confirmation. If a plan is confirmed, the trustee shall distribute any such payment in accordance with the plan as soon as is practicable. If a plan is not confirmed, the trustee shall return any such payments not previously paid and not yet due and owing to creditors pursuant to paragraph (3) to the debtor, after deducting any unpaid claim allowed under section 503(b)11 U.S.C. 1326(a)(2).   In the bankruptcy case debtor had made preconfirmation payments of $29,900, or which $19,800 was paid to debtor's counsel for fees, and $7,500 to the Colorado Dept. of Revenue (with consent of the debtor), and retained $2,596.70 as the trustee's fee.  Debtor filed a motion to disgorge, which the bankruptcy court denied.  The district court reversed, and the trustee appealed.  The court compared requirements in chapter 11 SubV and chapter 12, which statute specifically directs such trustees to collect their fee from all payments received by the trustee under such plans, but which also has provisions (11 U.S.C. §1194(a) and 11 U.S.C. §1126(a)) specifially provided for deduction of the trustee fees prior to any refund to the debtor.  The court noted the requirement to enforce the plain meaning of the statute, and found that 28 U.S.C. §586(e)(2) when ready together with 11 U.S.C. §1326(a) unambiguously require the standing chapter 13 trustee to return preconfirmation payments to the debtor without deduction for the trustee's fee when no plan is confirmed.  The trustee refereed to the chapter 13 trustee's handbook for interpretation of the statute, which is prepared by the Executive Office of the US Trustee.  This handbook indicates that the trustee may keep the fee even when a plan is not confirmed.    However such handbook cannot be relied on to contradict the plain language of the statute.  Further the handbook notes the possibility of controlling law in the district that would preclude collection of the fee.  The trustee also cited a chapter 12 case, In re BDT Farms, 21 F.3d 1019 (10th Cir. 1994) finding 28 U.S.C. §586(e)(2) to be ambiguous as to how to compute the trustee's fee, but the court concluded that is a separate issue from allowance of fees. The Court affirmed the district court decision not allowing the chapter 13 trustee to retain the fee.Michael BarnettMichael Barnett, PA506 N. Armenia Ave.Tampa, FL 33609-1703813 870-3100https://hillsboroughbankruptcy.com