How do I go about bankruptcy

Thank you for your inquiry. There are two types of bankruptcies for consumers, Chapter 7 and 13.  The former is generally for those who simply require the elimination of unsecured debt such as credit cards.  The latter is generally for those who have fallen behind in secured debt such as a mortgage.  Chapter 13 allows you to repay any arrears over five years. Generally, the fees for a chapter 7 are $2,000.00, plus the filing fee of $335.00.   Many clients pay that over time with the understanding that the final petition cannot be filed until all the fees and costs are paid. Student loans are one of the exceptions to discharge such that, except under extremely unusual circumstances, those debts will not be discharged.   You can keep your car as long as you continue to make payemnts on it.  There are other issues regarding the car that I would be happy to discuss in a consultation.    If you are in the eastern part of PA, feel free to contact me at your convenience on a free initial basis.  Please note that distance is not an issue, because we don’t have to meet unless you want to and virtually all issues can be addressed by phone, e-mail or mail. Very truly yours, Matthew R. Nahrgang, Esquire 35 Evansburg Road Collegeville, PA 19426 (610) 489-3041 ph o (610) 489-3042 fax mnahrgang@verizon.net www.mnahrgang.com