How long will a bankruptcy filing damage my credit? Typically, a bankruptcy filing will appear on a credit report for up to 10 years. While there is no way to predict how quickly your credit score will recover, the impact of the filing upon your credit score will usually diminish over time if you pay your bills on time after the bankruptcy is filed.
Will my bankruptcy appear in the newspaper? In most cases, consumer bankruptcy filings do not appear in regular newspapers. However, the filing information is available to anyone who makes the effort to search the bankruptcy court records.
How quickly can a case be filed? The actual filing takes place over the internet and is immediate. However, there is some preparation time needed and the debtor must undergo a credit counselling session either online or over the phone which can take an hour or so. While we prefer to have sufficient time to fully prepare all documents and schedules before filing, in an emergency a case can be filed within hours.
How long does a case take to complete? Consumer Chapter 7 cases are usually concluded in about four months. Chapter 13 cases involve payment plans which typically take place over a three to five year period.
Will I have to go to court? Yes and no. In the majority of consumer bankruptcy cases there is no need for the debtor to appear before the bankruptcy judge. There is usually just a single 5-10 minute meeting with the bankruptcy trustee where the debtor will answer questions under oath. While this takes place in a courtroom setting it is not as formal as a hearing or trial and you will be accompanied by Attorney Palopoli and will be briefed in advance.
Will my employer receive notice of the case? No, unless your employer is a creditor to whom you owe money or if you and your employer have some other unusual commercial relationship.
WE WILL TAKE THE TIME TO ANSWER YOUR QUESTIONS. SPEAK TO A BANKRUPTCY LAWYER AND KNOW YOUR RIGHTS.
Stephen J. Palopoli III has practiced law since 1988. He graduated with honors from Temple University in 1985 with a B.A. He went on to receive his law degree from the Dickinson School of Law in Carlisle, Pennsylvania, in June 1988. He has been admitted to the Supreme Court of Pennsylvania, the United States District Courts for the Eastern and Middle Districts of Pennsylvania, and the United States Court of Appeals for the Third Circuit.
Attorney Palopoli has represented debtors, creditors, and trustees in personal and business bankruptcy cases during the course of his career. Following six years working in law firms in 1994 he formed his own practice in the Lehigh Valley. He has also represented corporate, governmental, and nonprofit employers in thousands of unemployment compensation hearings throughout Pennsylvania.
In addition to his law practice, Attorney Palopoli has taught business law, real estate law, criminal law, and corporate law classes at local colleges. He resides in Lehigh County with his wife and two sons.
Contact our law office in Allentown, Pennsylvania to discuss your legal case with Attorney Palopoli.