Bankruptcy Lawyers

Allow You and Your Family to Protect Your Home and Other Assets Through Bankruptcy Protection

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Young Marr & Associates
Over 30 Years of Helping People Like You

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You Can Get a Fresh Start

My name is Paul Young. I am the founding partner of Young, Marr & Associates. I have been helping good people like yourself get back on track for over 30 years. There are many reasons that people find themselves in a situation where filing bankruptcy can help them get a fresh start. Maybe it was a sickness. Maybe it was the loss of a job.

Unfortunately, the term “bankruptcy” is associated with many myths and misconceptions. Often, people in a financial crisis ignore this powerful tool because they do not have accurate information. Our attorneys at Young, Marr & Associates are dedicated to dispelling those misconceptions. We have helped thousands of people, and we can We can help you get out of a tough situation and get back on track to regaining financial freedom – all under the protection of the court.

 

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We Have Helped Thousands of People Just Like You

“A 5 star rating of excellent is an understatement. Paul’s legal knowledge and skill set are worthy of a 10 star rating of Superb. He is a brilliant bankruptcy attorney who exceeded my expectations. He and his staff effortlessly guided me through a bankruptcy filing with ease and professionalism.” – James

“Mr Young has worked on a few issues for me, he is very caring, listens and WILL return your calls. He filed a chapter 7 bankruptcy for me recently and it went very smooth. In the past, he helped me get my SSDI benefits due to disability on the FIRST application. Do not hesitate to call Paul. I went into his office a nervous wreck and left 20 mins later reassured.” – Jeff

“When I met with Paul, I was stressed and crying. Within minutes I felt so much better. I am a widow on disability, who couldn’t manage my bills because of medical expenses. Paul listened and advised me on the different types of bankruptcy. He guided me every step of the way to come up with a good solution. He was always available to answer my questions. He really cares.”– Mary

“I would highly recommend Young Marr. I was very scared and nervous filing Ch. 7 for the first (and hopefully only) time. Mr. Young Young even returned a phone call to me on a Sunday, holiday weekend, when I was concerned about losing my car. I will always be very grateful for the help and assistance I received from the entire firm. Thank you to all of them.”– Lisa

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We have 13 office conveniently located in Bucks County, Philadelphia, Montgomery County, Lehigh County, Northampton County and in New Jersey, Burlington County, Mercer County, and Middlesex County.

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Relief From Foreclosure, Harassing Calls and Sleepless Nights

Call For Your Free Consultation

There are numerous advantages to filing for bankruptcy when you are in a financial predicament. Once your case has been filed, the harassing telephone calls, lawsuits, shutoffs, home foreclosures, bank freezes and wage garnishments will all stop.

An automatic stay, a legal injunction, goes into immediate effect the moment you file your bankruptcy petition. It protects all your assets, including savings and checking accounts from future collection efforts. Further, filing for bankruptcy is not something you should be ashamed of or feel guilty about. The founding fathers of our country considered bankruptcy so important that they specifically included it in the U.S. Constitution. They understood that sometimes it would be necessary that there be laws in place to allow people to, when necessary, cancel their debts and get a fresh start with their lives rather than spend years and years as slaves to creditors. In fact, over the years, a number of famous successful athletes, entertainers and business people had to do the same thing that you may be thinking about – seek relief by filing a personal bankruptcy.

Have You:

Been paying credit card balances that seem to never go down?

Lost your job and are now having trouble keeping up?

Attempted to work out a payment arrangement to no avail?

Been notified of a mortgage foreclosure action?

Been denied for a mortgage or other line of credit?

If the answer to any of these questions is “yes” then bankruptcy may be an option that you should consider.

Get Your FREE Consultation

Chapter 7 Bankruptcy

A Chapter 7 bankruptcy, sometimes referred to as a liquidation, is the most common form of bankruptcy filing. This type of bankruptcy accounts for approximately two-thirds of all consumer bankruptcy filings.

A Chapter 7 bankruptcy will result in a discharge of all unsecured debts which include credit cards, medical bills, most personal loans, and utility bills. If you file a Chapter 7 bankruptcy, you may keep your car and your home (provided that you do not have the exceeded amount of equity in those items) and you will continue to make payments on your mortgage and/or car loan. A Chapter 7 bankruptcy is different than other types of filings because the debtor does not make a monthly payment to the Trustee. In a great majority of cases, all of your property is exempt under bankruptcy law, meaning you keep all of your property.

Designed for people with limited assets and income, Chapter 7 provides a fast and efficient way to eliminate debt and get a fresh start. Often, people who have been considering consolidation loans or debt management companies find that Chapter 7 is not only the more cost-effective solution, but it also provides legal protections that other options do not. One of the most significant benefits of filing Chapter 7 as opposed to attempting to settle your debt is that there are no federal income tax implications. Any debt that your creditors forgive becomes taxable income and could greatly reduce your tax refund or negate it entirely. If you discharge your debt through bankruptcy, you will not burden yourself with any additional tax obligations.

Chapter 13 Bankruptcy

Chapter 13 bankruptcy, which is also called “reorganization bankruptcy,” is a type of personal bankruptcy that a person can use to catch up on delinquent debts while keeping his or her home, vehicle and other valuable assets.

When a person files for Chapter 13 bankruptcy, he or she creates an agreement known as a “reorganization plan,” which may last from three to five years depending on the situation. The purpose of the reorganization plan, which must be approved by the bankruptcy court, is to determine how the debtor will repay his or her creditors. These payments, which are managed by a court-appointed bankruptcy trustee, are funded by the debtor’s disposable income, which means that certain debtors may be ineligible to file Chapter 13.

One of the significant benefits Chapter 13 provides is the ability for a homeowner to stop a mortgage foreclosure or sheriff sale. In addition to stopping the foreclosure, Chapter 13 allows the debtor to pay back the money they are behind on. As long as the debtor can afford the bankruptcy plan payments and the monthly mortgage payments, their lender must accept the payment plan.

When the bankruptcy case comes to an end, the court will wipe out the debtor’s remaining dischargeable debts. The experienced attorneys at Young, Marr & Associates have helped people file for Chapter 13 can prevent foreclosure on the debtor’s home, or stop the debtor’s vehicle from being repossessed.

Mortgage Foreclosure Defense

Foreclosure is a frightening prospect, but don’t give up hope of keeping your property. It may be possible to prevent foreclosure and remain in your home by taking strategic financial action.

Depending on the situation, there are several strategies that can stop or postpone the foreclosure process in Pennsylvania. These strategies include Chapter 7 bankruptcy (“liquidation”), Chapter 13 bankruptcy (“reorganization”), short sales, forbearance agreements, and mortgage modifications.

Serving homeowners in Philadelphia, Bucks County, and the surrounding region of Pennsylvania, the foreclosure defense lawyers of Young, Marr & Associates can help you negotiate a plan with your lender, file for Chapter 7 or Chapter 13 bankruptcy, or explore other strategies that could allow you to keep your house. If you’re worried about losing your home to foreclosure, contact us for a free consultation about your options today.

Emergency and Same-Day Filings

It is not uncommon for a homeowner in foreclosure to believe they are making progress working with their lender. However, many times the foreclosure process is moving forward despite the homeowner’s best efforts. If you have allowed the foreclosure to continue to the eve of a sheriff sale, our attorneys could still potentially help you. It is possible to file for bankruptcy to save your home on the day of a scheduled auction.

Additionally, an emergency bankruptcy petition could help you get your car back if it was suddenly repossessed. Our attorneys often file emergency and even same-day bankruptcy filings for clients who are trying to keep assets such as a home or vehicle.

Myths and Misconceptions About Bankruptcy

Many people are misinformed about bankruptcy. Through inaccurate information on the internet to advice from friends and family members without any legal experience, many individuals have the wrong impression about bankruptcy. The following are some common myths associated with bankruptcy.

Individuals have been told that they will never be eligible for credit after filing for bankruptcy. While it is true that bankruptcy could stay on your credit report for up to ten years, you can immediately start rebuilding your credit after you file. Bankruptcy was designed to give debtors a fresh start, not to punish them.

Some people believe you have to file together if you are married. This is simply not true. In fact, in many cases, it makes more sense for one spouse to file – especially if all of the debt is in one spouse’s name.

You may have been told that bankruptcy will ruin your credit. While it may hurt your credit for a short period, bankruptcy is meant to provide debtors a way to improve their financial situation. Generally, most people contemplating bankruptcy do not have good credit. Also, in some situations, filing for bankruptcy might actually increase your credit score.

Often people doubt or do not understand that creditors are not allowed to sue you while you are in bankruptcy. Unlike trying to settle a debt yourself or with a debt consolidation company, bankruptcy prohibits your creditors from taking legal action against you. Any action they take could constitute a violation of federal law that could result in monetary sanctions.

People worry that they will be prohibited from filing for bankruptcy due to their income. Your income could dictate what chapter of bankruptcy you could file for, but it will not prevent you from filing. While someone with a substantial amount of income may not take advantage of the benefits of Chapter 7, often filing for Chapter 13 provides more benefits than the other options available.

Often, people worry about how bankruptcy will affect their family, believing it will ruin their relationships. We understand and are sympathetic towards the level of strain financial problems bring to a family. Many times, couples are about to split up over their economic stress. Bankruptcy could provide the fresh start and freedom from the stress necessary to improve a relationship.

Call Our Experienced Bankruptcy Attorneys for a Free Consultation

Very few people go through life without any financial stress. If you are feeling overwhelmed because of overdue bills, a pending foreclosure, or any other economic crisis, our experienced Pennsylvania bankruptcy attorneys could help you. At Young, Marr & Associates, we have over three decades of helping people feeling crushed by overwhelming debt. If you have any questions or are considering voluntary repossession, call our Pennsylvania office at (215) 701-6519 or our New Jersey office at (609) 755-3115 to schedule a free, confidential consultation to discuss your options.