A Pennsylvania resident filing a Chapter 7 bankruptcy can usually eliminate all credit card and medical debt, while generally keeping all personal property and belongings. The federal exemptions are available to a bankruptcy filer in Pennsylvania -- they provide...
Month: October 2014
Small business Chapter 7 bankruptcy includes assets liquidation
A small business in Pennsylvania can file a Chapter 7 bankruptcy if it intends to cease doing business and owes unmanageable debt. If the company closes its doors, a Chapter 7 Trustee will take over any unencumbered assets and will likely hold a public auction to sell...