Bankruptcy Attorney Serving Bucks County, PA
Are you struggling to make your monthly bill payments? Have you received harassing phone calls or letters from creditors? Is the bank threatening to foreclose on your home or repossess your car? If so, you're in good company. In these tough economic times, many Bucks County residents have struggled to make ends meet. But filing for personal bankruptcy may be your key to stopping foreclosure and getting a fresh start on your finances.
Serving clients in New Hope, Morrisville, Langhorne, Perkasie, Riegelsville, Tullytown, and throughout all of Bucks County, Pennsylvania, bankruptcy attorney Michael S. Schwartz is ready to assist you throughout the bankruptcy process. The Law Offices of Michael S. Schwartz offers comprehensive legal counsel to each of our clients, and will act as your representative to your creditors and the Pennsylvania bankruptcy court. We offer flexible appointment scheduling options and free initial consultations, so it costs you nothing to speak with a seasoned Bucks County bankruptcy lawyer about your needs.
Personal bankruptcy in Bucks County
Two of the most common forms of personal bankruptcy are Chapter 13 and Chapter 7 bankruptcy. While both offer debt relief and the opportunity to put a stop to foreclosure, there are some key differences between the two. Your bankruptcy attorney can help you determine which you qualify for and which is best for your situation.
In Chapter 7 bankruptcy, unsecured debts like credit cards, medical bills and personal loans are discharged so you no longer are required to repay these debts. Chapter 7 bankruptcy is an income based qualification. So long as your income is low enough, you can qualify for a Chapter 7 discharge. With Chapter 7 though, certain assets may be at risk for liquidation. At your free consultation, Michael Schwartz will review your assets and determine whether or not any of your assets will be at risk.
When you file for Chapter 13 bankruptcy, you will work with your bankruptcy attorney to establish a repayment plan that will satisfy your creditors and the bankruptcy courts, and will work with your budget. When you complete your repayment plan, any remaining eligible debts will be discharged. In Chapter 13, your assets cannot be liquidated; the assets you have are part of the equation to determine how much must be paid to creditors during the repayment plan. At your free consultation, Michael Schwartz will discuss these issues with you and provide an estimate for repaying your debt.
Whether you file for Chapter 7 or Chapter 13 bankruptcy in Bucks County, PA, the courts will issue what is called an automatic stay. The automatic stay prohibits your creditors from taking any collection actions against you, including foreclosure or repossession of your car. This buys you time to get your finances back under control and get caught up on payments, helping you keep your home.
Help when you need it most
Serving clients in Bensalem, Bristol, Buckingham, Chalfont, Churchville, Croydon, Doylestown, Dublin, Durham, East Rockhill, Fairless Hills, Feasterville, Trevose, Hatboro, Hilltown, Horsham, Ivyland, Langhorne, Levittown, Southampton, Middletown, New Britain, New Hope, Newtown, Northampton, Penndel, Perkasie, Quakertown, Richboro, Richlandtown, Sellersville, Souderton, Telford, Village Shires, Warminster, Warrington, Warwick, Yardley throughout Bucks County, PA, the Law Offices of Michael S. Schwartz has a reputation as one of the area's most trusted personal bankruptcy firms. We understand that when clients contact us, they are often experiencing major hardship, and we are happy to offer dedicated, compassionate legal counsel.
Contact us today for a free consultation
To find out if declaring personal bankruptcy is right for you, contact Bucks County bankruptcy attorney Michael S. Schwartz today at 215-259-3685.