Bankruptcy: A Powerful Tool For Debt Relief
Filing for bankruptcy is not the right choice for everyone, but it can be a powerful tool for people facing financial problems. The purpose of bankruptcy is to provide you with debt relief so you can move forward confidently rather than become overwhelmed by your situation. Bankruptcy can help you:
- Avoid foreclosure on your home
- Stop wage garnishment, which are cuts from your income that go to debtors
- Halt lawsuits, utility cutoff and repossession of your car
- Prevent further creditor harassment
If you are facing a challenging debt situation, you can rely on the attorneys at Lieberman, Tamulonis & Hobbs to be honest with you about your debt relief options and point you in the direction that will best protect your financial future.
We are licensed attorneys — not a fly-by-night debt consolidation company. We will listen. We will explore different options. We will work with you until we find a solution.
Chapter 7: Liquidate Your Debts For A Fresh Start
Chapter 7 bankruptcy offers you a clean start by ridding you of a large part of your current debt.
In Chapter 7 bankruptcy, you might need to sell assets and belongings in order to pay back some of your debt. However, Chapter 7 can remove at least part of the remaining debt, if not all of it.
This process is relatively fast, often taking four to six months to complete. Chapter 7 is a good option if you have a low or unsteady income.
Chapter 13: Get Back On Track With A Repayment Plan
Chapter 13 bankruptcy can help you prevent foreclosure on your home, as well as protect some of your other assets from being sold such as your car.
Unlike Chapter 7, you do not need to sell your assets to pay back your debt. Instead, you create a plan for repaying your debts over a span of three to five years. The plan is based on what is realistic for your personal circumstances. This way, you can restructure your finances to make your debt more manageable.
Contact Our Lawyers Today
Don’t resign yourself to the stress and worry your debt is causing. Call us at 800-473-8125 or contact us online to schedule a consultation.
We are a debt relief agency serving Pottsville and all of Pennsylvania. We help people file for bankruptcy under the Bankruptcy Code.