Chester County, Pa Bankruptcy Attorney
Are you tired of receiving harassing phone calls and letters from your creditors? Are you finding it hard to make ends meet and pay your monthly bills on time? Are interest charges and late fees piling up faster than you can pay them off? Has the bank threatened to foreclose on your home or repossess your car?
If you answered yes to any of the above, filing for personal bankruptcy may be your key to putting a stop to foreclosure and getting your finances back under control. At the Law Offices of Michael S. Schwartz, we work with Chester County clients who are experiencing financial difficulties and help them find debt relief through personal bankruptcy. We offer flexible appointment scheduling options and free initial consultations, so you have nothing to lose by discussing your situation with a seasoned Chester County bankruptcy lawyer who can help you make an informed decision about filing for personal bankruptcy.
Stopping foreclosure with an automatic stay
When you file for personal bankruptcy in the state of Pennsylvania, the courts will issue an automatic stay. The automatic stay prohibits your creditors from taking any future collection action against you, including phone calls, letters, wage garnishments, repossession, and foreclosure. The automatic stay can be a powerful tool that you and your bankruptcy lawyer can use to devise a plan to keep your home or put a stop to car repossession.
Personal bankruptcy in Chester County, Pennsylvania
Two of the most common forms of personal bankruptcy protection in Pennsylvania are Chapter 13 and Chapter 7 bankruptcy. Your bankruptcy attorney can help you determine which you qualify for and which is the right choice given your financial situation.
When you file for Chapter 7 bankruptcy, upon discharge, you will no longer be responsible for repaying your unsecured creditors. There is no payment plan; rather, because you qualify due to your income, you are no longer obligated to repay the debt. Because Chapter 7 is a liquidation process, it is important that you disclose all assets so that we can assure you that your assets are protected. Many key assets, such as your primary residence, may be exempt from liquidation, meaning you can't be forced to sell them as part of a Chapter 7 bankruptcy filing in Pennsylvania.
In Chapter 13 bankruptcy, you'll work with your attorney to develop a debt repayment plan that will work with your financial situation and will satisfy the Pennsylvania bankruptcy courts. When you have successfully completed your Chapter 13 repayment plan, any remaining eligible debts you have will be discharged. Chapter 13 bankruptcy is not a liquidation process – the assets you own are part of the equation to determine how much the unsecured creditors need to be paid; however, the Trustee will not sell your assets in a Chapter 13 bankruptcy.
Compassionate legal representation for Chester County residents
At the Law Offices of Michael S. Schwartz, we serve clients throughout Chester County, PA, including West Chester, Coatesville, Avondale, Phoenixville, Elverson, Honey Brook, Malvern, and more. We understand that our clients are experiencing serious financial hardship, and we take all the steps necessary to make the bankruptcy process as stress-free and painless for our clients as possible. It is our compassionate approach that has made us one of the most respected bankruptcy firms serving Chester County, Pennsylvania.
Contact us today for a free consultation
To find out more about filing for personal bankruptcy in Pennsylvania, contact the Law Offices of Michael S. Schwartz today at 215-259-3685.