From enormous medical bills to credit card debt whose principal is untouchable, there are numerous situations that lead to bankruptcy, and you shouldn't face them without a bankruptcy attorney on your side. Whether your debt comes from a situation beyond your control or from gradually assuming too much debt, the experienced bankruptcy attorneys at Reinherz and Reinherz will stop the collection procedures against you and counsel you on your options under Chaper 7 and Chapter 13 bankruptcy. If you need to know more about declaring a Pittsburgh bankruptcy, Reinherz and Rheinherz is here to help.

I. Declaring Chapter 7 Bankruptcy
Chapter 7 bankruptcy discharges your debts by liquidating your non-exempt assets and using the proceeds to pay at least a portion of your debts. However, there are certain types of debts that are rarely, if ever, discharged. They include:

• Student loans
• Alimony and child support payments
• Taxes and tax liens
• Fines or penalties levied by the government
• Fines stemming from criminal charges
• Debts resulting from wrongful death or personal injury lawsuits

To declare Pittsburgh bankruptcy under Chapter 7, your case must meet the following condition: your average gross income over the last six months, including your spouse's income, must fall below Pennsylvania's median income. However, there are certain instances where a debtor that makes more than Pennsylvania's median income may be declared eligible for Chapter 7.

Chapter 7 Bankruptcy Exemptions

Federal exemptions for Chapter 7 are more generous than state exemptions. They include:

• Up to $17,425 in property serving the primary residence
• Up to $2,775 on a motor vehicle
• Up to $450 on a household furnishing/consumer good up to a total of $9,300
• Up to $1,150 in personal jewelry
• A $925 additional exemption, plus unused residential property exemption up to $8,725.
• Social security payments
• Unemployment benefits
• Welfare benefits
• Veteran's administration benefits
• Disability benefits
• Certain pension benefits

II. Declaring Chapter 13 Bankruptcy
Chapter 13 bankruptcy discharges your debts by allowing you to pay on them for a period of time (usually 3-5 years) under affordable payment arrangements. After the time period expires, your debts, with the exception of any debts that are bankruptcy exempt, are discharged. To qualify for Chapter 13 bankruptcy, your case must meet the following conditions:

• You have a regular income
• You have unsecured debts totaling less than $250,000
• You have secured debts totaling less than $750,000

Regardless of how you arrived at bankruptcy, the experienced attorneys at Reinherz& Reinherz are here to help. In addition to advising you on Chapter 7 and Chapter 13 bankruptcy, Reinherz and Reinherz will guide you through the technical paper paperwork and legal meetings that attend bankruptcy, as well as counsel you on what to expect once your Pittsburgh bankruptcy is approved. Some people view bankruptcy as a tragedy. But at Reinherz and Reinherz, we view it as a necessary step toward re-achieving financial stability.