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Contact Us
  • Toll Free: 800-360-9392
  • Pittsburgh: 412-391-8000
  • Erie: 814-451-1131

Schedule Your Free Consultation

Contact Us
  • Toll Free: 800-360-9392
  • Pittsburgh: 412-391-8000
  • Erie: 814-451-1131
  • Why Steidl & Steinberg
    • Our Difference
    • Our History
    • Our Commercials
    • Attorneys Against Hunger
  • Areas of Practice
    • Overview
    • Personal Bankruptcy
    • Business Bankruptcy
    • Taxes
    • Assessment Appeals
    • Student Loan Management
  • Our Attorneys
    • Meet Our Attorneys
    • Ken Steidl
    • Julie Steidl
    • Christopher Frye
    • Lauren Lamb
    • Abagale Steidl
    • Brian Dodson
    • Nathan Chase
  • Our Locations
    • Steidl & Steinberg Offices
    • Beaver
    • Belle Vernon
    • Carnegie
    • Erie
    • Greensburg
    • Hermitage
    • Meadville
    • New Kensington
    • Pittsburgh
    • Uniontown
    • Washington
  • Blog
  • Reviews
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The Lost Job

Tony and Ziva had been employed locally and were earning good money, plus full benefits including pension plan, medical benefits, paid vacation, and paid sick days.

While they had been employed, their combined net income per month was in excess of $5,000.00 and they had two mortgages on their home, plus two car loans, a loan for new furniture that had been purchased for the living room, and bedroom, numerous charge cards, personal loans, and the usual food and utility bills. Tony and Ziva saw no problem with paying their debts and buying anything they desired. In short, life was good.

Pittsburgh Bankruptcy Attorney

But like so many others in these tough economic times, both were laid off.  Their unemployment compensation was a combined $3,000 per month. They were unable to make their necessary car payments. Tony and Ziva also fell behind on the second mortgage loan and could not make their scheduled charge card payments. They had two teenage children who also required clothing and other continuous expenditures of money.

They had been laid off for approximately six months and were facing the repossession of both of their vehicles along with their furniture, and were under extreme pressure from harassing creditors threatening lawsuits and foreclosures. Their marriage was also feeling the strain of the financial problems.

Chapter 7 Bankruptcy

After reading the information on the Steidl and Steinberg website, Tony and Ziva made an appointment. They decided to file a Chapter 7 bankruptcy and were immediately able to eliminate their credit card and personal loan debts. Then they voluntarily returned one vehicle to the lender and purchased a used but affordable car to replace it. They wanted to try every avenue to keep their home.

Fortunately, since the resale of used furniture is a losing proposition for the creditor, Tony and Ziva were able to work out an arrangement with the finance company for a modification of their loan at 50 cents on the dollar. On the status of their house, the first mortgage had remained current, and they were able to make arrangements with the second mortgage company to make lower payments to stave off any type of foreclosure. For Tony and Ziva, there was hope again.

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Steidl & Steinberg PC BBB Business Review
  • Overview
  • Personal Bankruptcy
    • Types of Personal Bankruptcy
    • FAQs
      • Former Bankruptcy Client
      • Current Bankruptcy Client
      • Prospective Bankruptcy Client
    • Could This Be You?
      • The Choice: Debt Settlement vs. Bankruptcy
      • Retirees Who Paid Their Dues
      • The Divorce
      • The Small Business Break-up
      • The Typical Chapter 7
      • The Avalanche of Medical Bills
      • The Overspender
      • The Co-sign
      • The Mortgage Foreclosure
      • The Lost Job
    • Step-by-Step
    • Resources
      • Bankruptcy Resources
      • Bankruptcy Glossary
      • Helpful Financial Links
  • Business Bankruptcy
    • Types of Business Bankruptcy
  • Taxes
    • Overview
    • How We Can Help
    • FAQs
    • Could This Be You?
      • Business Withholding Tax
      • Currently Uncollectable
      • Taxes and Filing Bankruptcy
      • Offer in Compromise
  • Assessment Appeals
    • Overview
    • Assessment Appeals FAQs
  • Student Loan Management

Archives

Steidl & Steinberg PC BBB Business Review

Contact Us Toll Free: 1-800-360-9392

Southwestern PA Main Office - Pittsburgh - 412-391-8000

Northwestern PA Main Office - Erie - 814-451-1131

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