INITIAL CALCULATIONS REGARDING FILING FOR BANKRUPTCY
The Reedy Law Office limits it bankruptcy services to Schuylkill County residents.
There are a number of different types or "Chapters" of bankruptcy. The type of "Chapter" that
the Reedy Law Office engages in, is Chapter 7, sometimes referred to as a straight bankruptcy.
One of the many steps in evaluating an individual for a possible bankruptcy filing is determining
a candidates monthly expenses verses their monthly income. Once the total monthly income
is determined, certain "allowable" expenses are deducted from that income. If at the end of
that calculation there is only a small amount of income left to pay the other bills, or "non-allowable" expenses then bankruptcy may be an option. Candidates' should be prepared to
verify income and expenses with appropriate documentation.