Law Office of Brandon Zurvalec | Philadelphia, PA Attorneys at Law
The Law Office Of Brandon Zurvalec, LLC | Philadelphia Attorneys
About The Firm
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Bankruptcy & Debt Relief
"We are a debt relief agency. We help people file for bankruptcy relief under the Federal Bankruptcy Code"

Chapter 7:

If you’re drowning in debt with no end in sight, you may be entitled to relief under Chapter 7 of the U.S. Bankruptcy Code.  Chapter 7 Bankruptcy, commonly referred to as “Liquidation,” is the most basic form of relief under the Bankruptcy Code.  And depending on your circumstances, filing for Chapter 7 Bankruptcy may even lead to a complete discharge of your current debt. 

Chapter 13:

Even if you don’t qualify for relief under Chapter 7, it may be advisable for you to file for a Chapter 13 Reorganization Plan.  This plan allows you to pay back your debt (usually over a period of 3-5 years) using future income.  In addition, setting up one of these plans allows you to keep that house and/or vehicle of yours that might otherwise be subject to foreclosure/repossession.  And at the end of the plan, if all payments have been made as scheduled, your remaining unsecured, dischargeable debt may be discharged.    


When you enter into a mortgage agreement for the purpose of financing a home, the lender usually retains a security interest in that home. This means that if you ever default on your payments under the agreement, the lender may eventually take your home from you, sell it and thereby extinguish any rights you once had in it. Such an act by a lender is known as “foreclosure.” And while the seriousness of foreclosure cannot be overstated, legal rights found in the U.S. Bankruptcy Code can often prevent this event from happening.  


For most practical purposes, repossession is the same thing as foreclosure. The main difference, however, is that with repossession, we are generally referring to personal property (as a car) instead of real property (as a home). So if, for example, you have defaulted on your auto loan payments, your lender may eventually take your vehicle from you (i.e. “repossess” it), sell it and thereby extinguish any rights you once had in it. As is the case with foreclosure though, the U.S. Bankruptcy Code affords legal rights that can often prevent repossession from happening.

Law Office of Brandon Zurvalec | Philadelphia, PA Attorneys at Law

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Law Office of Brandon Zurvalec, LLC
Brandon Zurvalec
Attorney at Law
1800 John F. Kennedy Boulevard, Suite 300
Philadelphia, PA 19103
Phone: 215.360.9626
Fax: (215) 525-2745

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