Bankruptcy After Job Loss in Pennsylvania

Usually no. The look-back period means filing during or shortly after unemployment is often advantageous for Chapter 7 qualification.

Retirement accounts including 401(k), 403(b), and IRAs (up to a high statutory cap) are fully exempt in Pennsylvania bankruptcy. Don't cash out a 401(k) to pay creditors before talking to us.

Most Pennsylvania filers keep their home and vehicle. We can elect federal bankruptcy exemptions, which protect a significant amount of home equity plus a vehicle, household goods, retirement accounts, and a wildcard for anything else. We walk through your assets before filing so there are no surprises.

We charge a flat attorney fee that is fully disclosed and agreed to before you engage the firm. Court filing fees and the two required credit-counseling courses are separate. Many clients pay the attorney fee in installments before filing.

Chapter 7 stays on your credit report for up to 10 years; Chapter 13 for up to 7 years. In practice most clients see their FICO score improve within 12–24 months because their debt-to-income ratio drops dramatically and they can demonstrate on-time payments on new credit.