${site.data.firmName}${SEMFirmNameAlt}
724-610-9914

City councilor files for personal bankruptcy

A city councilor in another state recently decided that his financial situation was beyond what he could handle on his own. He therefore decided to file for personal bankruptcy. Individuals in Pennsylvania who are struggling to make ends meet can likewise take full advantage of this type of bankruptcy filing.

In his Chapter 7 filing, the city councilor listed more than $837,000 in assets along with more than $1.74 million in liabilities. The biggest of the councilor's liabilities are related to business. In fact, his top creditors are banking institutions with which the bank has worked during the past decade.

One of the banks listed as a creditor is owed more than $595,000. Meanwhile, another bank is due more than $140,000. The man said that he and his wife could not pay the loan they had with the first bank, so his only option was to go through the bankruptcy process. The pair had taken out the loan on a café's behalf and personally guaranteed it.

Sometimes, economic or business situations change, thus causing an individual to end up with far more liabilities than assets. However, in these situations, all is not lost. People who are having a hard time financially can file for personal bankruptcy with the goal of getting on the path to financial peace again. Of course, the filing process can be complicated for those who have never been through it before. Fortunately, an attorney can walk individuals in Pennsylvania through the bankruptcy filing process, ensuring that their best interests and rights are upheld each step of the way.

No Comments

Leave a comment
Comment Information
Email Us For A Response

Contact The Firm

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Stewart, McArdle, Sorice, Whalen, Farrell, Finoli & Cavanaugh, LLC

Greensburg Office
229 South Maple Avenue
Greensburg, PA 15601

Toll Free: 866-601-9627
Phone: 724-610-9914
Fax: 724-836-2038
Greensburg Law Office Map

Crabtree Office
Crabtree Branch Office
Rt. 119 North
Crabtree, PA 15624

Toll Free: 866-601-9627
Phone: 724-610-9914
Fax: 724-836-2038
Map & Directions

Ligonier Office
Ligonier Branch Office
610 West Main St.
Ligonier, PA 15658

Toll Free: 866-601-9627
Phone: 724-610-9914
Fax: 724-836-2038
Map & Directions

Contact The Firm