Wilkes-Barre Bankruptcy Lawyer

Bankruptcy is not exactly an ideal option for most people. It is often regarded as the financial option of last resort. However, bankruptcy is not the punishment it is often made out to be. Our legal team can help you determine if bankruptcy can help you.

Talk to a lawyer to determine if bankruptcy can help you in your financial situation. You might be eligible for various bankruptcy chapters depending on the size of your debts, income, and assets. Choosing the right chapter is not a decision to make lightly. There are numerous chapters designed for different financial needs. A lawyer can help you match your specific needs to the appropriate bankruptcy chapter. You should also discuss the advantages and disadvantages of filing for bankruptcy. For example, many people who file are provided with more time to catch up on mortgage payments via an automatic stay imposed by the court. However, bankruptcy may also have a significant negative impact on your credit.

For a free initial case review regarding your potential bankruptcy case, call our bankruptcy attorneys at Young, Marr, Mallis & Associates at (215) 701-6519.

Deciding Whether Filing for Bankruptcy in Wilkes-Barre is a Good Idea

How does one know if bankruptcy is the right choice? This is a hard question to answer, especially since most people want to avoid filing for bankruptcy at all costs. If struggle with debts and barely get by making minimum payments, you can speak to our bankruptcy lawyers about whether bankruptcy is a good solution to your troubles.

First, we should review your debts and income. Most people carry at least some debt, and it is not unusual to have fairly significant debt. For example, anyone who has purchased a home or vehicle is likely carrying a lot of debt and must keep up with monthly payments. If income is insufficient to stay ahead of monthly payments on all your debts, it might only be a matter of time until you default.

If you have been struggling with debt for some time, you might already be in default or close to it. At that point, it can be very hard to catch up with payments and turn your situation around. It might be better to file for bankruptcy, have debts discharged, and start over with a clean slate.

You should also talk to our team about the possibility of filing for bankruptcy if you are at risk of losing important assets. For example, if you fall too far behind on mortgage payments, you risk losing your home to foreclosure. In some cases, filing for bankruptcy actually helps people keep their homes and other property.

Selecting the Bankruptcy Chapter That Works Best for You in Wilkes-Barre

There are many different ways to handle bankruptcy. We often think of bankruptcy as a singular legal action, but it is actually many different actions. Choosing the best way to file for bankruptcy is key to getting a fresh financial start.

Chapter 7

A popular bankruptcy option is Chapter 7 bankruptcy. Chapter 7 is sometimes called “liquidation bankruptcy” because the main goal is to liquidate assets and use the proceeds to pay back debts. As such, people who file for Chapter 7 bankruptcy often have property like homes, vehicles, and even some personal belongings sold off by a bankruptcy trustee assigned to their case.

One of the upsides to Chapter 7 is that it tends to be completed relatively quickly. Many cases take only a few short months. By the end, certain remaining debts may be discharged. When the court discharges a debt, you are no longer legally liable for payment. Keep in mind that not all debts are eligible for discharge, and you should speak to your attorney about which debts you have that are eligible for discharge.

Chapter 13

Another common choice among bankruptcy petitioners is Chapter 13. This is quite different from Chapter 7 as it does not focus on liquidating your assets. In fact, many people who file for Chapter 13 bankruptcy do not lose their assets and property. The purpose of Chapter 13 bankruptcy is to reorganize debts into a feasible yet aggressive payment plan that usually lasts for several years. You and your lawyer must devise the payment plan, which must then be approved by the court, pending any objections from creditors.

Unfortunately, Chapter 13 bankruptcy tends to take a lot more time to complete. As mentioned, most petitioners who file for Chapter 13 spend at least a few years on their payment plans. If you fall off the plan and miss payments, you might have to redesign the plan or possibly lose important assets.

Like Chapter 17, when your payment plan under Chapter 13 ends, the court may discharge certain debts.

Advantages and Disadvantages of Bankruptcy in Wilkes-Barre

While people often think of bankruptcy as a punishment for financial mistakes or the mismanagement of assets, this is not true. It is meant to be a solution for those who cannot escape their debts. Even so, there may be both advantages and disadvantages to bankruptcy that you should thoroughly discuss with your lawyer.


One of the biggest advantages to filing for bankruptcy is the automatic stay. This order from the court immediately halts any legal proceedings related to your debts and prevents new legal actions from being initiated. On top of that, the automatic stay should stop creditors from contacting you about payments for debts. This can be extremely helpful for people facing mortgage foreclosure, as the foreclosure proceedings must immediately stop.

Additionally, there may be ways in which you can protect some of your assets during the bankruptcy process. Numerous exemptions allow bankruptcy petitions to exempt or exclude certain property, assets, or accounts from being seized during the bankruptcy process. For example, the federal homestead exemption under 11 U.S.C. § 522(d)(1) allows you to exempt a certain amount of equity in your home.


Unfortunately, bankruptcy can be an uncomfortable process for a number of reasons. First, when someone files for bankruptcy, their overall credit will likely take a significant hit. As such, you might have difficulty securing certain financial opportunities after the bankruptcy process is complete. When creditors see you have a bankruptcy in your credit history, you might have trouble securing a loan or opening other lines of credit.

Depending on the outcome of your case, you might lose important assets. For example, many people end up losing their homes to bankruptcy. While there are ways your attorney can help you try to avoid this, it is sometimes not possible.

Contact Our Bankruptcy Attorneys in Wilkes-Barre for Help Today

For a free initial case review regarding your potential bankruptcy case, call our bankruptcy attorneys at Young, Marr, Mallis & Associates at (215) 701-6519.

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12 Convenient Locations Across Pennsylvania and New Jersey

Philadelphia, PA

7909 Bustletown Ave, 1st Floor Philadelphia, PA 19152 (215) 607-7478 Get Directions

Quakertown, PA

328 Broad St. Quakertown, PA 18951 (215) 515-6876 Get Directions

Allentown, PA

137 N 5th St. Suite A Allentown, PA 18102 (215) 240-4082 Get Directions

Jenkintown, PA

135 Old York Road Jenkintown, PA 19046 (215) 544-3347 Get Directions

Easton, PA

101 Larry Holmes Dr. #212 Easton, PA 18042 (215) 515-7077 Get Directions

Bala Cynwyd, PA

2 Bala Plaza, Suite 300 Bala Cynwyd, PA 19004 (610) 557-3209 Get Directions

Bensalem, PA

3554 Hulmeville Rd, #102 Bensalem, PA 19020 (215) 515-6389 Get Directions

Plymouth Meeting, PA

600 W. Germantown Pike #400 Plymouth Meeting, PA 19462 (215) 515-6876 Get Directions

Harrisburg, PA

2225 Sycamore St Harrisburg, PA 17111 (717) 864-8887 Get Directions

Cinnaminson, NJ

909 Route 130 South #202 Cinnaminson, NJ 08077 (609) 796-4344 Get Directions

Hamilton Twp., NJ

100 Horizon Center Blvd., 1st and 2nd Floors Hamilton Township, NJ 08691 (609) 236-8649 Get Directions

Marlton, NJ

10000 Lincoln Drive E One Greentree Centre, Suite 201 Marlton, NJ 08053 (856) 213-2805 Get Directions

Piscataway, NJ

200 Centennial Ave. Suite 200 Piscataway, NJ 08854 (908) 367-7256 Get Directions