Delaware County Bankruptcy Attorney
In recent years, Delaware County residents have been impacted by troubling financial times. While the economy is recovering, home foreclosures are still common throughout Pennsylvania, and many people are having trouble making ends meet. When you're experiencing financial hardship, the stress added by threatening phone calls and letters from creditors can make a bad situation much worse.
There is hope for Delaware County, PA residents needing debt relief and protection from foreclosure. Filing for personal bankruptcy can help you get your finances back under control and can put a stop to foreclosure or repossession of your car. At the Law Offices of Michael S. Schwartz, we represent clients throughout Delaware County, Pennsylvania. We offer flexible appointment scheduling options and free initial consultations, so you have nothing to lose by consulting with a top Delaware County bankruptcy lawyer.
Chapter 7 or Chapter 13?
Two of the most common forms of personal bankruptcy in Pennsylvania are Chapter 7 and Chapter 13 bankruptcy.
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.
In either case, the courts will issue an automatic stay, which prevents your creditors from taking any collection actions against you. This includes collection calls, repossession of your car, and foreclosure on your home. The automatic stay is a powerful tool that you and your bankruptcy attorney can use to devise a plan to keep your house and put a stop to foreclosure.
Help when you need it most
Serving clients in Chester, Upper Darby, Havertown, Aldan, Brookhaven, Chester Heights, Clifton Heights, Collingdale, Colwyn, Darby, East Lansdowne, Eddystone, Folcroft, Glenolden, Lansdowne, Marcus Hook, Media, Millbourne, Morton, Norwood, Prospect Park, Ridley Park, Sharon Hill, Upland, Yeadon and throughout Delaware 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
It costs you nothing to speak with a top Delaware County bankruptcy attorney. Contact the Law Offices of Michael S. Schwartz at 215-259-3685.