Has the bank threatened to foreclose on your home? Are you finding it difficult to make your monthly payments for credit cards, medical bills, auto loans, and other debts? Does it feel like you will never be able to get out of debt?
If you answered yes to any of the above, you are in good company. Many residents throughout Bensalem are finding it difficult to keep their heads above water, and while the economy is recovering, foreclosure and debt collection are still commonplace.
With over 20 years of legal experience, Bensalem Pennsylvania bankruptcy lawyer Michael S. Schwartz can help you put a stop to foreclosure and other debt collection and get back on track toward your future financial goals. In addition to flexible appointment scheduling options, The Law Offices of Michael S. Schwartz provides free initial consultations, so it costs you nothing to discuss your financial situation with a knowledgeable Bensalem bankruptcy attorney.
Personal Bankruptcy in Bensalem, PA
Chapter 13 and Chapter 7 are among the most common forms of personal bankruptcy filed in the State of Pennsylvania. There are key differences between the two, and your bankruptcy lawyer can help you determine which is best for your situation.
Chapter 7 bankruptcy will discharge your credit cards, medical bills and personal loans so that you are no longer responsible for them. Chapter 7 bankruptcy is an income-based qualification. In order to be approved for Chapter 7 bankruptcy, you will need to show that your income within the guidelines. Attorney Michael Schwartz can help you decide if this options is for you. Chapter 7 bankruptcy is also a liquidation process so it is important to discuss your assets with Mr. Schwartz to ensure that no property will be sold. When you retain the services of bankruptcy attorney Michael S. Schwartz, he will carefully review your assets to determine whether any may be at risk for liquidation. Any eligible remaining debts following your Chapter 7 filing may be discharged, meaning you will no longer owe them.
Chapter 13 bankruptcy is primarily used to save your home from foreclosure or car from repossession. It is also used in cases where you do not qualify for Chapter 7 bankruptcy. In Chapter 13 bankruptcy you will work with your bankruptcy lawyer, your creditors, and the courts to establish a repayment plan that is mutually satisfactory. The terms of your repayment plan are based largely on your disposable income and value of your non-exempt assets. With Chapter 13 bankruptcy, there is no risk of liquidation. You can feel safe that all of your assets are protected.
Contact Us Today For A Free Consultation
There is help for Bensalem, Pennsylvania residents who are finding it hard to make ends meet. Before you let the bank foreclose on your home or repossess your car, or if you want to stop harassing creditors, call The Law Offices of Michael S. Schwartz at 215-259-3685, and talk to us about your situation. We are committed to finding a solution that works for you.