Bankruptcy Attorney in Trevose, PA

Bankruptcy is a legal tool that can afford you a financial do-over in the face of crushing debt. It provides many people the help they need to regain their financial footing. While your credit score will take a direct hit with bankruptcy, the bankruptcy process can also help pave the way toward an improved credit rating in the future. If you have questions or concerns about bankruptcy, our experienced firm stands by to help.

If You Are Considering Bankruptcy

Bankruptcy is a complex legal matter that carries serious consequences that require careful consideration. Bankruptcy can help you escape serious debt that might otherwise haunt you for years. While bankruptcy is a powerful tool that could help you, proceeding with the skilled legal guidance of an accomplished bankruptcy lawyer is always in your best interest.

When Bankruptcy is Advised

Whether or not bankruptcy is the right answer for you depends on a wide range of factors, and it’s important to note that no two cases are identical. The kinds of situations when bankruptcy is often advised, however, include the following:

• Your credit card debt is unmanageable; you’re living off your credit cards or using one credit card to pay off another.
• You are considering using your retirement savings to avoid a financial crisis.
• You’re facing legal consequences, such as being sued by creditors.
• Your vehicle is at risk of being repossessed.
• You are at risk of losing your home to foreclosure.

If you’re facing serious consequences due to your debt, you shouldn’t wait to consult with an award-winning bankruptcy lawyer.

Chapter 7 vs. Chapter 13 Bankruptcy

The two primary forms of bankruptcy that generally apply to individuals include Chapter 7 and Chapter 13.

Chapter 7 Bankruptcy

With Chapter 7 Bankruptcy, you can liquidate specific assets to pay down specific debts under the court’s supervision. Chapter 7 Bankruptcy requires a means test, but those earning below a specific amount generally qualify. While liquidation usually excludes necessities, such as your home and car, you’ll need to get those payments current.

Chapter 13 Bankruptcy

Chapter 13 bankruptcy, on the other hand, is designed to eliminate your qualifying debt over a period of three to five years. This plan, which the court must approve, can significantly decrease the amount you repay overall and stop foreclosure. It is designed for those who earn a regular income, which allows them to handle their payment plan.

Turn to an Experienced Pennsylvania Bankruptcy Lawyer for the Help You Need Today

If you’re considering bankruptcy, the compassionate Trevose bankruptcy attorneys at Mette Attorneys at Law have the experience, drive, and legal insight to help you move beyond the debt holding you back. For more information about how to turn your financial situation around, please get in touch with us online or call today.