It may not be generally known that bankruptcy relief can be extended to public-service entities such as volunteer fire companies. Those kinds of nonprofit organizations can, however, obtain relief from creditors and an opportunity to reorganize in a Chapter 11...
Month: August 2016
Consumer bankruptcy filing may be indicated by certain formulas
For consumer borrowers in Pennsylvania, a calculation called the debt-to-income ratio is sometimes helpful in determining whether the consumer can pull out of the debt situation without filing bankruptcy. A debt-to-income ratio of 20 percent is considered low by the...
Bankruptcy may erase unsecured debt and allow retention of house
Consumers in Pennsylvania who are so overwhelmed with unsecured debt that it would take many years to pay their way out of it may be concerned about how to resolve the issue. When an individual or married couple cannot pay a reasonable amount each month toward their...