Whether you are a private citizen struggling under credit card debt and unable to pay your mortgage or the owner of a business that is seeing a lot more red than black, it is always difficult to contemplate filing for bankruptcy. Still, despite the negative connotations that have attached themselves over the years to declaring bankruptcy, it can offer the best solution to a bad situation, and a manageable way to put your financial life back on track. If you are considering filing for bankruptcy in Philadelphia, it is important that you understand the process, how it can benefit you and the potential disadvantages that doing so entails. The Philadelphia law firm of Erik B. Jensen Attorneys at Law will take the tie to explain all of the ramifications of the different types of bankruptcy, and let you know whether there are any better alternatives available to you. Call us today to set up an appointment to put your life back on track.
The first thing that we will address when we meet with you is whether or not you actually need to file for bankruptcy. This is best determined by taking a look at the specifics of your economic circumstances. Under Pennsylvania law, your debt may not put you into a position of losing property – unsecured debt such as that owed to credit card companies may put you in a position of accumulating interest and penalties, but not of losing your home, while secured debt such as any on which your property was offered as collateral does put you at risk. Many of the things that people are trying to escape when they file for bankruptcy, such as harassing phone calls from creditors or bill collectors, can be addressed with a simple phone call or cease and desist letter. There are many situations where clients come to us assuming that bankruptcy is their only option, only to find that other alternatives can be used. Determining what best suits your particular situation is a part of what we do.
If together we decide that filing for bankruptcy in Philadelphia is indeed your best answer, we will walk you through the steps and make sure that all of your paperwork is properly prepared and all of the forms that you need are filled out properly. We will help you to determine which of your property is exempt and which is not, help you schedule the mandatory pre-filing credit counseling, and file all of the paperwork on your behalf with the court. Though we understand that filing for bankruptcy is an upsetting and intimidating experience, we will do our best to make sure that you are fully prepared and know all of your rights as the various liens against you are discharged and you are able to begin your economic life over again. Call Erik B. Jensen Attorneys at Law today to get immediate relief from your financial concerns.
Learn more about Filing Bankruptcy in Philadelphia HERE.
