Philadelphia Bankruptcy Lawyers

Philadelphia Bankruptcy Lawyers

If you are considering filing for bankruptcy, you probably did not come to the decision lightly or without giving it a great deal of thought. Bankruptcy offers a financial reset, but the fresh start that it provides comes at a cost too. The Philadelphia bankruptcy lawyers at Jensen Bagnato, P.C. understand that. We are here to guide you through the process. We will explain all of the advantages and disadvantages that are a part of filing for bankruptcy, and help you to determine whether it is the right answer for you. We’ll also help you determine what type of bankruptcy is best, and help you prepare all of the necessary documents to ensure that everything is done correctly and that your rights are protected.  Call us today to set up an appointment to come in and talk with us.

Though there are stigmas attached to bankruptcy, most people come to the decision following some kind of major life event that makes a significant change in their income or financial status. These changes often include divorce, insurmountable medical bills, and unemployment. People who file for bankruptcy have generally attempted to get their bills under control, but finally have to face the facts when they receive foreclosure notices from their home lender or receive one too many call from a collection agency. Filing for Chapter 7 bankruptcy can put an end to those calls and an automatic stay on all collection efforts, while Chapter 13 can provide the opportunity for you to keep your home as long as you can afford to start making your mortgage payments again.

Every bankruptcy is different because everybody’s financial situation is different. In Pennsylvania, one of the first steps involved in the process of filing for bankruptcy is to undergo a means test to determine the extent of your debt and what type of debt relief you are eligible for. This test will specifically look at your current income in order to determine whether you are able to pay off your debt over a period of time or whether you are better served by filing for Chapter 7, which discharges almost all debts. The court will look at a number of different factors in making this determination, including monthly expenses and income, as well as what the median income is for your state.  The results of this test will also help to determine what will happen to many of your assets and whether you need to liquidate them.

In addition to personal bankruptcy, the Philadelphia bankruptcy attorney at Jensen Bagnato, P.C. can help you with business bankruptcy situations and with filing for Chapter 12 or Chapter 13 relief.  No matter what your financial situation, we will be able to guide you through the process, help you to prepare and file all necessary paperwork and provide you with debt relief that will allow you to start over financially. Call us today to set up a convenient appointment.

Contact A Philadelphia Bankruptcy Attorney For A Free Consultation

Contact Jensen Bagnato, P.C. today to discuss your debt relief options via filing bankruptcy. For a free consultation please dial (215) 546-4700 or (888) 551-7149 after normal working hours.

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