Which is worse, bankruptcy or debt? The answer might not be what you think. You might be suffering from burdensome debt and looking for a solution to your financial hardship. The search may keep you up at night, disturb your sleep and reduce your ability to focus at work. You may have tried opening new credit cards, transferring debt or letting payments slide, but it only makes matters worse. People view bankruptcy like its admitting failure, something you avoid at all costs but it may be the best option and your first step toward freedom from debt. The cost of
Don’t File Bankruptcy The # 1 reason home owners file bankruptcy is to prevent or stop a pending foreclosure on their home and they are always surprised to hear me say “Don’t File Bankruptcy.” After all, I am a Philadelphia Bankruptcy Lawyer. It may surprise you to know that there are many steps to stop a foreclosure aside from filing bankruptcy. A great deal of my legal practice is dedicated to helping borrowers obtain a loan modification. Often times, clients call me when the foreclosure complaint has already been filed so it’s necessary to fight the bank and defend against
The Philadelphia Association of Paralegals Bankruptcy Committee will be hosting a Lunch-and-Learn on Friday, April 10th at 12.15 p.m., at Dunne Law Offices, P.C., 1515 Market Street, Suite 1200, Philadelphia, PA 19102. Stephen M. Dunne, Esq. will be presenting an overview of Chapter 7 & Chapter 13 Bankruptcy. The meeting will discuss why people file for bankruptcy; the various costs involved; mandatory credit counseling; the bankruptcy petition; the automatic stay; the 341 meeting of creditors; and the bankruptcy discharge. The Dunne Law Offices, P.C. will provide lunch and caffeinated refreshments to ensure no one falls asleep while we discuss the bankruptcy code.
In Pennsylvania, a debtor may choose either the federal or state exemptions. In some states, there is no such choice. An exemption is a legal term describing the debtor’s right to keep a certain amount of their property so that they can obtain a fresh start after the bankruptcy. Exemptions play an important role in both Chapter 7 and Chapter 13 bankruptcy. In Chapter 7 bankruptcy, exemptions help determine which property you get to keep. In Chapter 13 bankruptcy, exemptions help determine how much you’ll have to pay to your unsecured creditors. Federal Exemptions are listed under Section 522 of
Stephen M. Dunne, managing partner of Dunne Law Offices, P.C. has been named among the Top Lawyers 2012: The Main Line Area’s Best Attorneys in 15 Specialties by Main Line Today magazine. Every year, local lawyers vote for the best among their peers in fifteen specialty areas. Attorney Dunne is among the few to have been chosen as Best Attorney in Bankruptcy Law. Stephen M. Dunne commented on the recognition: “This is quite an honor for me. The fact that Main Line Today included me in its selection of “2012 Top Lawyers,” signals that my constant effort to deliver excellent
Press Release Stephen M. Dunne, Esq., a partner in the Philadelphia law firm, Dunne Law Offices, P.C., has been recognized as an Outstanding Young Lawyer (OYL) by the Philadelphia Magazine. The OYL award is given to young lawyers, with ten or fewer years of experience, who have received recognition within the legal profession for their impressive record of professional achievement and ethical standards. Mr. Dunne’s consumer law practice focuses on stopping debt collection harassment, during and after Chapter 7 and Chapter 13 bankruptcy.
The borrower’s permanent and total disability is grounds for a student loan discharge. Borrowers with FFELs, Direct Loans, and Perkins loans are eligible for this discharge. This includes consolidation loans. The definition of disability changed as of July 1, 2010. The new definition is less restrictive and is more favorable for borrowers because it allows discharges to be granted to borrowers who are unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death, can be expected to last for a continuous period of 60
Teachers who are full time and work five (5) consecutive years in certain schools that serve low income families are eligible to erase $5,000.00 of their federal student loans. Math or Science teachers in eligible secondary schools and special education teachers in eligible elementary or secondary schools are allowed to erase up to $17,500.00 of their student loans in return for five (5) consecutive years of employment in certain schools that serve low income families. The Teacher Loan Forgiveness Program under the FFEL Program and the Direct Loan Program apply only to borrowers with no outstanding loan balances as of