We can help with both Chapter 7 and Chapter 13 Bankruptcy filings. We offer some of the lowest rates in the area with caring, personal service. Unlike many General Practice Law Firms, Reinherz and Reinherz is specifically trained to handle bankruptcy and has been designated an official "Debt Relief Agency" by the Federal Government.

We Can Help With.... Foreclosure Car Repossession Bill Collectors Wage Attachment IRS Problems Medical Bills Credit Card Debt DMV Suspension

Chapter 7 Vs. Chapter 13 - What's the Difference?
A Chapter 7 Bankruptcy provides you a fresh start by wiping out or "discharging" your allowable debts. In October 2005, a new bankruptcy law went into effect which makes it more involved to file bankruptcy. There is a "means test" which you must pass to determine if you qualify for Chapter 7 bankruptcy or if you will be asked to pay back a portion of your debt.

A Chapter 13 bankruptcy allows you to repay your debts over time in a "Plan" and usually keep your property. Most commonly, debtors will file this type of bankruptcy to stop a foreclosure proceeding and repay mortgage arrearages. The Court will examine your budget and must then approve your "Plan".  The new bankruptcy law requires some debtors to file Chapter 13 to repay their debts rather than Chapter 7, depending in part on their income.

Whether or not you Qualify for a Chapter 7 or Chapter 13 bankruptcy depends upon your specific circumstances. As your attorney, we will examine your debts, your assets and your income, among other things, before you file. Bankruptcy is NOT right for every person. After this review, we will advise you on the best course of action for your situation.

Contact an attorney to learn more about a Chapter 7 and Chapter 13 Bankruptcy in Philadelphia or New Jersey.

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Why Reinherz & Reinherz Law For Bankruptcy?

Bankruptcy FAQ

What does a Bankruptcy Cost?
We're very open about what a bankruptcy might cost. A typical Chapter 7 Bankruptcy starts at $800 plus a $299 filing fee and an additional $135 in credit reports and mandatory credit counseling classes. A Chapter 13 Bankruptcy is a little more difficult to predict, but fees are generally capped by the Bankruptcy Courts. Some of the fees may even be paid through the Payment Plan. The filing fee is $274 with the same $135 additional fees. Our fees will be quoted after an initial case review. All our fees are clearly discussed up front at the start of the process so you don't have to worry about any surprises down the road.

Note: Some of our practice includes the assistance of individuals seeking relief under the Bankruptcy Code.  As such, we are proud that our office has been designated as a federal debt relief agency.