Chapter 7 Reaffirmation Agreement
Reaffirmation agreement is a contract entered into during a Chapter 7 bankruptcy case which stops the particular debt from being discharged. It creates an obligation to repay that debt after the bankruptcy case is completed.
Typically, only secured debts are reaffirmed in order to allow the debtor
to retain the collateral. Under the amendments to the Bankruptcy Code, secured creditors can treat the filing of the bankruptcy as a default and use that as a basis to repossess their collateral (such as an automobile) after the bankruptcy case is over, if applicable state law allows it. As a result, the only sure way to keep a secured motor vehicle or other personal property is to enter into a reaffirmation agreement.
However, there is a big downside to reaffirmation agreements, namely that if you fail to make the required payments, not only can the creditor repossess its collateral, but the debtor will also owe whatever is left on the balance of the reaffirmed debt.
The upside is that the majority of vehicle creditors will allow debtors to just stay current and maintain their payments without entering into a reaffirmation agreement.
Additionally, if a debtor attempts to ratify a reaffirmation agreement and the judge denies it, then the debtor should be able to retain the collateral and make payments because they have done all that is required of them by the bankruptcy code.
Dunne Law Offices, P.C.
1500 John F Kennedy Boulevard Suite #200
Philadelphia, PA 19102
(215) 854-6342
http://www.dunnelawoffice.com
http://www.dunnelawoffices.com
http://www.thephiladelphiabankruptcyattorney.com
http://www.bestphiladelphiabankruptcyattorney.com
Monday, June 21, 2010
Friday, June 18, 2010
Chapter 7 Bankruptcy: A Fresh Start
1. Eliminate Your Debt – It is one of the main reasons why people file for Bankruptcy.
2. Loss of Employment – It is very common reason for filing bankruptcy.
3. Stop Foreclosure – Foreclosure of house can be stopped at any time prior to the sale with the help of Chapter 13 Bankruptcy.
4. Stop Repossession – If you file bankruptcy quickly enough you can avoid a vehicle repossession.
5. Relief from harassing behavior of creditors – Filing bankruptcy instantly stops the harassing behavior of the creditors and collection agencies.
6. Relief from huge medical bills – Through Chapter 7 Bankruptcy medical bills can be eliminated.
7. Stop Wage garnishment – Wage garnishment is also very important reason for filing bankruptcy. But chapter 7 bankruptcy can spot wage garnishment.
Dunne Law Offices, P.C.
1500 John F Kennedy Boulevard Suite #200
Philadelphia, PA 19102
http://www.dunnelawoffice.com
http://www.dunnelawoffices.com
http://www.thephiladelphiabankruptcyattorney.com
http://www.bestphiladelphiabankruptcyattorney.com
215) 854-6342
2. Loss of Employment – It is very common reason for filing bankruptcy.
3. Stop Foreclosure – Foreclosure of house can be stopped at any time prior to the sale with the help of Chapter 13 Bankruptcy.
4. Stop Repossession – If you file bankruptcy quickly enough you can avoid a vehicle repossession.
5. Relief from harassing behavior of creditors – Filing bankruptcy instantly stops the harassing behavior of the creditors and collection agencies.
6. Relief from huge medical bills – Through Chapter 7 Bankruptcy medical bills can be eliminated.
7. Stop Wage garnishment – Wage garnishment is also very important reason for filing bankruptcy. But chapter 7 bankruptcy can spot wage garnishment.
Dunne Law Offices, P.C.
1500 John F Kennedy Boulevard Suite #200
Philadelphia, PA 19102
http://www.dunnelawoffice.com
http://www.dunnelawoffices.com
http://www.thephiladelphiabankruptcyattorney.com
http://www.bestphiladelphiabankruptcyattorney.com
215) 854-6342
Chapter 7 Bankruptcy: A Fresh Start
1. Eliminate Your Debt – It is one of the main reasons why people file for Bankruptcy.
2. Loss of Employment – It is very common reason for filing bankruptcy.
3. Stop Foreclosure – Foreclosure of house can be stopped at any time prior to the sale with the help of Chapter 13 Bankruptcy.
4. Stop Repossession – If you file bankruptcy quickly enough you can avoid a vehicle repossession.
5. Relief from harassing behavior of creditors – Filing bankruptcy instantly stops the harassing behavior of the creditors and collection agencies.
6. Relief from huge medical bills – Through Chapter 7 Bankruptcy medical bills can be eliminated.
7. Stop Wage garnishment – Wage garnishment is also very important reason for filing bankruptcy. But chapter 7 bankruptcy can spot wage garnishment.
Dunne Law Offices, P.C.
1500 John F Kennedy Boulevard Suite #200
Philadelphia, PA 19102
http://www.dunnelawoffice.com
http://www.dunnelawoffices.com
http://www.thephiladelphiabankruptcyattorney.com
http://www.bestphiladelphiabankruptcyattorney.com
215) 854-6342
2. Loss of Employment – It is very common reason for filing bankruptcy.
3. Stop Foreclosure – Foreclosure of house can be stopped at any time prior to the sale with the help of Chapter 13 Bankruptcy.
4. Stop Repossession – If you file bankruptcy quickly enough you can avoid a vehicle repossession.
5. Relief from harassing behavior of creditors – Filing bankruptcy instantly stops the harassing behavior of the creditors and collection agencies.
6. Relief from huge medical bills – Through Chapter 7 Bankruptcy medical bills can be eliminated.
7. Stop Wage garnishment – Wage garnishment is also very important reason for filing bankruptcy. But chapter 7 bankruptcy can spot wage garnishment.
Dunne Law Offices, P.C.
1500 John F Kennedy Boulevard Suite #200
Philadelphia, PA 19102
http://www.dunnelawoffice.com
http://www.dunnelawoffices.com
http://www.thephiladelphiabankruptcyattorney.com
http://www.bestphiladelphiabankruptcyattorney.com
215) 854-6342
Chapter 7 Bankruptcy: A Fresh Start
1. Eliminate Your Debt – It is one of the main reasons why people file for Bankruptcy.
2. Loss of Employment – It is very common reason for filing bankruptcy.
3. Stop Foreclosure – Foreclosure of house can be stopped at any time prior to the sale with the help of Chapter 13 Bankruptcy.
4. Stop Repossession – If you file bankruptcy quickly enough you can avoid a vehicle repossession.
5. Relief from harassing behavior of creditors – Filing bankruptcy instantly stops the harassing behavior of the creditors and collection agencies.
6. Relief from huge medical bills – Through Chapter 7 Bankruptcy medical bills can be eliminated.
7. Stop Wage garnishment – Wage garnishment is also very important reason for filing bankruptcy. But chapter 7 bankruptcy can spot wage garnishment.
Dunne Law Offices, P.C.
1500 John F Kennedy Boulevard Suite #200
Philadelphia, PA 19102
http://www.dunnelawoffice.com
http://www.dunnelawoffices.com
http://www.thephiladelphiabankruptcyattorney.com
http://www.bestphiladelphiabankruptcyattorney.com
215) 854-6342
2. Loss of Employment – It is very common reason for filing bankruptcy.
3. Stop Foreclosure – Foreclosure of house can be stopped at any time prior to the sale with the help of Chapter 13 Bankruptcy.
4. Stop Repossession – If you file bankruptcy quickly enough you can avoid a vehicle repossession.
5. Relief from harassing behavior of creditors – Filing bankruptcy instantly stops the harassing behavior of the creditors and collection agencies.
6. Relief from huge medical bills – Through Chapter 7 Bankruptcy medical bills can be eliminated.
7. Stop Wage garnishment – Wage garnishment is also very important reason for filing bankruptcy. But chapter 7 bankruptcy can spot wage garnishment.
Dunne Law Offices, P.C.
1500 John F Kennedy Boulevard Suite #200
Philadelphia, PA 19102
http://www.dunnelawoffice.com
http://www.dunnelawoffices.com
http://www.thephiladelphiabankruptcyattorney.com
http://www.bestphiladelphiabankruptcyattorney.com
215) 854-6342
Saturday, June 12, 2010
http://www.bestphiladelphiabankruptcyattorney.com
The two most common consumer bankruptcies are Chapter 7 and Chapter 13 bankruptcy.
Best Philadelphia Bankruptcy Attorney is committed to getting you debt relief and providing you with valuable information, services and advice to get you a better financial future.
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1500 John F. Kennedy Boulevard, Two Penn Center, Suite 200,
Philadelphia, PA 19102, USA
(215) 854 - 6342 office
(215) 205 - 6367 cell
(215) 525 - 9721 fax
http://www.bestphiladelphiabankruptcyattorney.com
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Best Philadelphia Bankruptcy Attorney is committed to getting you debt relief and providing you with valuable information, services and advice to get you a better financial future.
Best Philadelphia Bankruptcy Attorney
1500 John F. Kennedy Boulevard, Two Penn Center, Suite 200,
Philadelphia, PA 19102, USA
(215) 854 - 6342 office
(215) 205 - 6367 cell
(215) 525 - 9721 fax
http://www.bestphiladelphiabankruptcyattorney.com
Print Directions
Dunne Law Offices, P.C.
$100.00 Certificate
A penny saved is a penny earned.
Expires - Dec 31, 2010
http://maps.google.com/coupons/page?did=11591777125430904523
Wednesday, June 2, 2010
Cautiously Optimistic About President Obama’s Stimulus Package
A quick glance at the bankruptcy statistics from around the Country
illustrate that bankruptcy filings have increased by 220% from 2007
thru 2010.
Between March 31, 2006 and March 31, 2007
695,575 bankruptcy cases were filed.
Between March 31, 2007 and March 31, 2008
901,927 bankruptcy cases were filed.
Between March 31, 2008 and March 31, 2009
1,202,503 bankruptcy cases were filed.
Between March 31, 2009 and March 31, 2010
1,531,997 bankruptcy cases were filed.
The statistics show a remarkable increase in bankruptcy filings
which are a good barometer for the economic situation in this Country.
The percentage increase from 2007 to 2008 was 29.7%
The percentage increase from 2008 to 2009 was 33.3%
The percentage increase from 2009 to 2010 was 27.4%
This is hard evidence that millions of Americans are
filing bankruptcy and the numbers are increasing at a startling rate.
A 220% increase over three (3) years indicates that we are knee
deep in a recession and it is more likely that we are in the
thick of it rather than on the way out.
I am cautiously optimistic about America’s economic recovery.
Stephen M. Dunne, Esq.
Dunne Law Offices, P.C.
1500 John F. Kennedy Boulevard
Two Penn Center, Suite 200
Philadelphia, PA 19102
(215) 854 – 6342 office
(215) 205 – 6367 cell
(215) 525 – 9721 fax
dunnelawoffices@gmail.com
www.dunnelawoffices.com
Article Source Material:
http://www.uscourts.gov/Statistics/BankruptcyStatistics.aspx
illustrate that bankruptcy filings have increased by 220% from 2007
thru 2010.
Between March 31, 2006 and March 31, 2007
695,575 bankruptcy cases were filed.
Between March 31, 2007 and March 31, 2008
901,927 bankruptcy cases were filed.
Between March 31, 2008 and March 31, 2009
1,202,503 bankruptcy cases were filed.
Between March 31, 2009 and March 31, 2010
1,531,997 bankruptcy cases were filed.
The statistics show a remarkable increase in bankruptcy filings
which are a good barometer for the economic situation in this Country.
The percentage increase from 2007 to 2008 was 29.7%
The percentage increase from 2008 to 2009 was 33.3%
The percentage increase from 2009 to 2010 was 27.4%
This is hard evidence that millions of Americans are
filing bankruptcy and the numbers are increasing at a startling rate.
A 220% increase over three (3) years indicates that we are knee
deep in a recession and it is more likely that we are in the
thick of it rather than on the way out.
I am cautiously optimistic about America’s economic recovery.
Stephen M. Dunne, Esq.
Dunne Law Offices, P.C.
1500 John F. Kennedy Boulevard
Two Penn Center, Suite 200
Philadelphia, PA 19102
(215) 854 – 6342 office
(215) 205 – 6367 cell
(215) 525 – 9721 fax
dunnelawoffices@gmail.com
www.dunnelawoffices.com
Article Source Material:
http://www.uscourts.gov/Statistics/BankruptcyStatistics.aspx
Cautiously Optimistic About President Obama’s Stimulus Package
A quick glance at the bankruptcy statistics from around the Country
illustrate that bankruptcy filings have increased by 220% from 2007
thru 2010.
Between March 31, 2006 and March 31, 2007
695,575 bankruptcy cases were filed.
Between March 31, 2007 and March 31, 2008
901,927 bankruptcy cases were filed.
Between March 31, 2008 and March 31, 2009
1,202,503 bankruptcy cases were filed.
Between March 31, 2009 and March 31, 2010
1,531,997 bankruptcy cases were filed.
The statistics show a remarkable increase in bankruptcy filings
which are a good barometer for the economic situation in this Country.
The percentage increase from 2007 to 2008 was 29.7%
The percentage increase from 2008 to 2009 was 33.3%
The percentage increase from 2009 to 2010 was 27.4%
This is hard evidence that millions of Americans are
filing bankruptcy and the numbers are increasing at a startling rate.
A 220% increase over three (3) years indicates that we are knee
deep in a recession and it is more likely that we are in the
thick of it rather than on the way out.
I am cautiously optimistic about America’s economic recovery.
Stephen M. Dunne, Esq.
Dunne Law Offices, P.C.
1500 John F. Kennedy Boulevard
Two Penn Center, Suite 200
Philadelphia, PA 19102
(215) 854 – 6342 office
(215) 205 – 6367 cell
(215) 525 – 9721 fax
dunnelawoffices@gmail.com
www.dunnelawoffices.com
Article Source Material:
http://www.uscourts.gov/Statistics/BankruptcyStatistics.aspx
illustrate that bankruptcy filings have increased by 220% from 2007
thru 2010.
Between March 31, 2006 and March 31, 2007
695,575 bankruptcy cases were filed.
Between March 31, 2007 and March 31, 2008
901,927 bankruptcy cases were filed.
Between March 31, 2008 and March 31, 2009
1,202,503 bankruptcy cases were filed.
Between March 31, 2009 and March 31, 2010
1,531,997 bankruptcy cases were filed.
The statistics show a remarkable increase in bankruptcy filings
which are a good barometer for the economic situation in this Country.
The percentage increase from 2007 to 2008 was 29.7%
The percentage increase from 2008 to 2009 was 33.3%
The percentage increase from 2009 to 2010 was 27.4%
This is hard evidence that millions of Americans are
filing bankruptcy and the numbers are increasing at a startling rate.
A 220% increase over three (3) years indicates that we are knee
deep in a recession and it is more likely that we are in the
thick of it rather than on the way out.
I am cautiously optimistic about America’s economic recovery.
Stephen M. Dunne, Esq.
Dunne Law Offices, P.C.
1500 John F. Kennedy Boulevard
Two Penn Center, Suite 200
Philadelphia, PA 19102
(215) 854 – 6342 office
(215) 205 – 6367 cell
(215) 525 – 9721 fax
dunnelawoffices@gmail.com
www.dunnelawoffices.com
Article Source Material:
http://www.uscourts.gov/Statistics/BankruptcyStatistics.aspx
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