Chapter 7 Bankruptcy in Philadelphia May Not Be The Answer

With So Many Questions Surrounding the Chapter 7
Bankruptcy Process, You Cannot Move Forward
in a Confident Manner Until You Discuss
Your Situation with a Qualified Attorney
CHAPTER 7
BANKRUPTCY IN
PHILADELPHIA MAY
NOT BE THE ANSWER
DAVID M. OFFEN
PHILADELPHIA BANKRUPTCY ATTORNEY

Chapter 7 Bankruptcy in Philadelphia May Not be the Answer www.getfreeofbills.com
3
If you find debt piling up and no conceivable way to dig yourself out, it
may be time for you to consider filing for bankruptcy.
While this sounds simple enough on paper, there are many details that go
into the process. Above all else, you have to decide which type of
bankruptcy you qualify for.
Most people are familiar with the benefits of Chapter 7 bankruptcy,
including the fact that they can wipe clear some or all of their debt, not
having to pay any of it back.
On the other hand, Chapter 13 has its own set of benefits, but you will be
required to make some repayment to creditors through a repayment plan.

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Ask most people which route they would rather take, and the majority of
those who are informed will tell you Chapter 7.
The problem with this is simple: you may not qualify for Chapter 7
bankruptcy, as there are strict eligibility requirements in place. If you do
not qualify, you will then need to turn your attention to Chapter 13. In
addition, in some cases, you are much better off and receive much better
benefits by filing for Chapter 13.
Here are some of the reasons why you may not qualify for a Chapter 7
filing:
1. You earn too much money. If you earn enough money to repay your
debt, you will not be able to file Chapter 7 bankruptcy. There are
guidelines in place to determine if you exceed this limit, and in the event
that you do, it is time to give Chapter 13 bankruptcy a second look.
2. You have enough disposable income to repay debt. In short, if
you have enough money
left over every month
after paying all allowable
expenses, you will not
likely qualify for Chapter 7
bankruptcy. The means
test is in place to help the
court make this decision.

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If you pass, you qualify. If you fail, you may have to consider another
option.
3. Have you received a bankruptcy discharge in the past? This can
have an impact on whether or not you are able to move forward with a
filing at the present time. If you received a Chapter 7 discharge within the
last eight years, you are not eligible to file again. For those who received a
discharge through Chapter 13 bankruptcy, the time frame for filing again is
six years.
4. Have you defrauded or attempted to defraud creditors? In the
event that you have defrauded creditors, the court is in position to throw
out your Chapter 7 bankruptcy filing. The courts are looking for any type of
fraud, including but not limited to:
Lying about your income
Lying about your debt
Hiding assets from the court
Giving away assets before filing for bankruptcy
Using credit to buy luxury items you could never afford to pay off
CONSULT WITH A CHAPTER 7 BANKRUPTCY ATTORNEY
With so many questions surrounding the Chapter 7 bankruptcy process,
you cannot move forward in a confident manner until you discuss your

6
situation with a qualified attorney. Only then will you fully understand what
you are getting into, and how to proceed.
It is better to find out early on if you are
eligible for Chapter 7 bankruptcy than to
believe that you are, just to learn down
the road that you have to alter your
approach.
An experienced attorney can review your
financial situation, including your income
and debt, to give you a better idea of if Chapter 7 bankruptcy is an option.
If it is, you may want to proceed with the filing process. If it is not, it is
time to discuss other methods of improving your finances, such as Chapter
13.

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About the Author
David M. Offen
A native to the Philadelphia area, Mr. Offen attended Temple University College and Law
School. Mr. Offen is licensed to practice in the States of Pennsylvania and New Jersey. He is a
member of the Eastern District of Pennsylvania Bankruptcy Conference and the National
Association of Consumer Bankruptcy Attorneys.
David M. Offen has over 20 years of experience and has helped over 8,500 individuals and
families go through the Bankruptcy process. These filings have included stopping foreclosure on
a home, stopping repossession of a car or vehicle, stopping IRS tax levies and frozen bank
accounts and putting a stop to; lawsuits, credit card bills, personal loan, bills, utility shutoffs
and other types of debt.
With Mr. Offen’s help, these families have saved countless millions of dollars of debt.
David enjoys getting to know his clients and will be happy to answer any and all questions you
may have. You are treated as a person and not a number.
Remember – there is no such thing as a silly question. Don’t be afraid to ask any questions you
may have. David M. Offen has found that people looking to file Bankruptcy are not trying to
avoid their responsibilities but rather to make a difficult situation easier. David enjoys getting
people to stop worrying and making their financial lives much better and stop feeling
overwhelmed.
In some cases, Bankruptcy is not the best move and he can review your situation with you and
tell you the right move for you to make. Get a completely free evaluation of your situation. For
the past 20 years, the Law Offices of David M. Offen has been among the top filers of
bankruptcy in the Eastern District of Pennsylvania.
The Law Offices of David M. Offen
www.getfreeofbills.com
The Curtis Center
601 Walnut Street, Suite 160 West – 1st Floor
Philadelphia, PA 19106
(215) 625-9600

Chapter 7 Bankruptcy in Philadelphia May Not Be The Answer

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Chapter 7 Bankruptcy in Philadelphia May Not Be The Answer