When debts pile up, bills come in, and you find yourself without enough income to pay them, you may feel as though you’re beyond help. Unmanageable debt is a reality that Americans face every day, but bankruptcy allows you to gain a fresh start and get you back on your feet. There are many complicated processes associated with personal or corporate bankruptcy. To get through this very difficult time, trust the Miller Law Group’s legal expertise to guide you.
How an Experienced Bankruptcy Lawyer Can Help
An experienced bankruptcy law attorney in Berks County or your community can assist you as you maneuver through the bankruptcy process. Your attorney can even help you understand whether bankruptcy is the right option for you. He or she can guide you to the right type of bankruptcy, stop harassing debt collection calls and fight for your rights so your finances and credit face the least amount of pressure possible. Equally important, a bankruptcy law attorney in Reading, PA or your region can be a source of support during this often difficult time.
Only the Miller Law Group offers specialized legal counsel and one-on-one attention to fully understand your financial situation. We can also help you in the following areas:
- Organize important details, forms, and petitions
- Evaluate all your assets and debts via a means test
- Weigh your options and devise a plan that’s right for you
Your Options With Bankruptcy in Pennsylvania
If you are facing bankruptcy, you may have two options:
- Chapter 7. In this type of bankruptcy, the court liquidates your assets to pay off your debts. Some debts may be discharged or forgiven as part of the process, although some debts are not dischargeable.
- Chapter 13. In Chapter 13 bankruptcy, you agree to repay your debtors, usually within three to five years.
Deciding whether to have your debts forgiven or rearranged is an important decision. A bankruptcy law attorney in Reading, PA or your community can help you decide the right type of bankruptcy so that you enjoy the best possible fresh start.
An attorney can also explain some of the limitations of each type of bankruptcy. For example, with Chapter 13 bankruptcy, you may not be able to get relief if you have no way of meeting your obligations.
The process can also take up to five years, and the payments can still be a challenge even if they are designed to be affordable.
In addition, not everyone qualifies for Chapter 7 bankruptcy. An attorney can tell you whether you qualify and help you determine how long your credit score may be affected.
In some cases, you may not be able to pay your debts, but you don’t want to file bankruptcy. If so, a bankruptcy attorney can review your hesitations as well as alternatives. For example, you may be able to negotiate with your creditors or find other ways to deal with your financial obligations.
If not, a bankruptcy attorney can explain to you how bankruptcy can provide a fresh start and help you start over. Bankruptcy can eliminate some of your debts or make them easier to pay, allowing you to enjoy an end to harassing collection calls and worries about money. Bankruptcy can also protect some of your most important assets, such as your home, retirement accounts, and other important property and investments.
In many cases, bankruptcy is preferable to losing your home or investments and being financially affected for years. Bankruptcy allows you to start rebuilding your finances. On the other hand, delaying too long can hurt your money situation further and lead you to lose more, making the road to recovery even more difficult.
For your debt concerns, you deserve a professional legal team and a compassionate ally. Contact the Miller Law Group today.