125 State Street
Harrisburg, PA 17101
Phone: 717-232-6650
Fax: 717-232-0477
doriemott@aol.com
Dorothy L. Mott
125 State Street
Harrisburg, PA 17101
Phone: 717-232-6650
Fax: 717-232-0477
E-mail: doriemott@aol.com
Services Provided
Bankruptcy
Bankruptcy is a legal proceeding in federal bankruptcy court when a person who has more debts than he or she can pay, seeks relief from those debts. The right to file bankruptcy exists under the law.
Bankruptcy may appear on a person's credit record for 10 years and may interfere with that person's ability to get credit. However, a person contemplating bankruptcy may already have a poor credit rating and, in some cases, bankruptcy may actually improve his or her ability to get credit, since many of the person's former debts will have been dismissed. Your local credit bureau may be able to provide information about the policies of lenders and creditors in your area with regard to bankruptcy and obtaining credit - © 9/98, Pennsylvania Bar Association
CHAPTER 7
A trustee is appointed to take over your property. Any property of value will be sold or turned into money to pay your creditors. You may be able to keep some personal items and possibly real estate depending on the law of the state where you live.
CHAPTER 13
You can usually keep your property, but you must earn wages or have some other source of regular income and you must agree to pay part of your income to your creditors. The Court must approve your repayment plan and your budget. A trustee is appointed and will collect the payments from you, pay your creditors, and make sure you live up to the terms of your repayment plan.