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Bankruptcy Attorney in Elkins Park, PA and Melrose Park, PA

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Whatever is going on with you financially there is nothing more stressful than living each day with the knowledge that you cannot pay your debt. The threat of car repossession, eviction, judgments against you, liens on your property, wage garnishments, levies on your bank accounts… we’ve helped our clients resolve all of these situations and move on toward a fresh start. Give our skilled Philadelphia bankruptcy lawyers a call today to get the relief you deserve.

You are suffering – that’s why you searched for a solution online and clicked on this page. We can help.

Bankruptcy and bankruptcy alternatives are for the honest but unfortunate debtor who could not have anticipated not being able to repay their debt. Whether you got divorced, lost a job, suffered a major medical calamity, or just were living beyond your means for a while, we can help you clear that debt and move on.

Perhaps you have credit card debt or medical bills you can’t hope to ever pay. Perhaps you have a large student loan payment and can’t afford it. Do you pay alimony or child support? We’ve helped hundreds of people more readily afford paying those support payments. Do you owe money to the IRS? We can help you there too.

Our bankruptcy attorneys have saved people’s homes from foreclosure and sheriff sale, and recovered people’s cars from repossession.

Debt Settlement, Debt Negotiation, Debt Consolidation Lawyer in Melrose Park or Elkins Park

For Melrose Park residents or those in surrounding areas, who have a lot of equity in their homes in excess of the allowable exemption, sometimes it is better to negotiate with individual creditors instead of filing a bankruptcy petition. When we meet with you we go through your financial obligations and your assets carefully to make sure that if filing bankruptcy is what is best for you, you will not lose your home or other property. You can trust us to honestly assess your situation and provide you with all the viable options.

Chapter 7 Lawyer in Melrose Park or Elkins Park

You’ve probably heard of Chapter 7 Bankruptcy – this is the 4-6 month process whereby you income-qualify to file by passing the means test, then you disclose all of your assets, debts, income, and expenses and are discharged of all of the eligible unsecured debt.

A Chapter 7 debtor also has the power to surrender a car or home and be discharged of the underlying debt, or reaffirm a mortgage or car loan, or redeem a car for market value. To explore your options in Chapter 7 bankruptcy, contact us to schedule your free consultation.

Chapter 13 Lawyer in Elkins Park or Melrose Park

Chapter 13 bankruptcy offers a partial repayment plan over three or five years for people who have a steady income. Generally, unsecured debtors are paid a small percentage, or in some cases are not paid at all, through the plan, and then the remaining debt is discharged upon completion of the plan.

Chapter 13 is powerful – if you have a mortgage or car loan arrears, your lender is forced to accept repayment of those arrears over the 3- or 5-year plan and when your case closes, you continue paying on the mortgage or car loan as if your default never happened.

If your car is worth less than what you owe on the car loan, you can “cram” it down to market value and pay that off in your Chapter 13 plan.

If you have multiple mortgages and your home is worth less than the first mortgage, you may be able to “strip off” second and third mortgages and have that debt discharged as unsecured.

The Power of the Automatic Stay

If together we decide filing Chapter 7 or Chapter 13 bankruptcy is right for you, know that the instant we file the “automatic stay” protects you from any collection efforts, immediately. That means that creditor calls and mailings stop, and any lawsuits including foreclosures are put on hold.

If you have had enough and are ready to invoke the power of the automatic stay, or if you want to discuss alternatives to filing bankruptcy, give us a call, we’re here for you.

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