Allegheny County, PA Bankruptcy Lawyers
Filing for bankruptcy can be overwhelming for everyone, including Allegheny County, PA residents. To make the process easier, turn to an experienced bankruptcy lawyer you can trust.
The thought of filing for bankruptcy can be upsetting. That is where a skilled attorney comes in. An experienced lawyer can help you choose which type of bankruptcy to file for in Allegheny County, PA. Your attorney can help you navigate the filing process for either Chapter 7 or Chapter 13 bankruptcy and be by your side during creditor meetings and other crucial events. There is no need to enter into bankruptcy alone. Your attorney can provide the support and insight you need to file for bankruptcy and come out the other side, more financially stable.
We are here to help residents throughout Allegheny County, PA file for bankruptcy when necessary. For a free case evaluation with the Allegheny County, PA bankruptcy lawyers at Young, Marr, Mallis & Deane, call today at (215) 701-6519.
Reasons to Hire an Allegheny County, PA Bankruptcy Lawyer
When a strain on your finances impacts your lifestyle and happiness, it may be time to hire a bankruptcy lawyer in Allegheny County, PA. Acting quickly once you have identified a financial issue is important so your attorney can mitigate any further damage and create a plan to help you move forward.
When facing bankruptcy, Allegheny County, PA residents may be understandably overwhelmed. The idea of filing for bankruptcy can be upsetting, confusing, and stressful. That is why hiring an attorney is important. Your Allegheny County, PA bankruptcy lawyer can help explain the process so it feels less frightening. While bankruptcy can sound like a scary endeavor, it can ultimately help you eliminate debt and regain your footing. Declaring bankruptcy can help you regain your financial security after a particularly difficult time.
In addition to learning more about the bankruptcy filing process, those that hire an experienced lawyer can also gain access to invaluable advice. Using their experience and in-depth understanding of Pennsylvania’s bankruptcy laws, your attorney can advise you on which type of bankruptcy to file. Depending on your family’s needs and financial situation, filing for either Chapter 7 or Chapter 13 bankruptcy may be best.
An experienced lawyer can also help you understand which of your debts will be erased after filing for bankruptcy and which will remain. Hiring an attorney is important if you are facing bankruptcy in Allegheny County, PA. Your lawyer can provide the necessary insight and guidance you may need to make crucial decisions when filing for bankruptcy in Allegheny County, PA.
Types of Bankruptcy in Allegheny County, PA
In Allegheny County, PA, there are two types of bankruptcy: Chapter 7 and Chapter 13. The type that best suits you will depend on your income and the state of your debts. Your lawyer can provide you with the necessary information to decide which type of bankruptcy to file for in Allegheny County, PA.
For families in Allegheny County, PA filing for Chapter 7 bankruptcy may be less than ideal. When you file for Chapter 7 bankruptcy in Allegheny County, PA, the court will put an automatic stay on debt collection payments. Although that may seem like immediate relief, an automatic stay in Chapter 7 bankruptcy is often followed by the court taking your property. Depending on your debts, various properties or assets may be repossessed and sold to pay creditors.
Not everyone is eligible to file for Chapter 7 bankruptcy in Allegheny County, PA. To do so, you must pass a means test. If your income is too high, you will not qualify for Chapter 7 bankruptcy and will have to find another way to pay off your debts. To learn more about whether or not you may pass the means test for Chapter 7 bankruptcy, speak with your attorney.
Chapter 13 bankruptcy allows debtors to keep their property and assets while under bankruptcy but requires them to pay back creditors according to a rigid repayment schedule. Generally, repayment plans last three to five years in Allegheny County, PA.
An automatic stay will go into effect after you file for Chapter 13 bankruptcy, preventing creditors from harassing you for payment. Then, your Allegheny County, PA bankruptcy lawyer can devise a repayment plan that you can reference to structure your payments to creditors over a period of time.
What to Expect After Bankruptcy in Allegheny County, PA
Navigating bankruptcy in Allegheny County, PA can be stressful. Once your bankruptcy case is near its end, it is important to know what comes next. Depending on the type of bankruptcy you have filed for and its result, the ending may vary.
The court may discharge certain debts at the end of your Chapter 7 bankruptcy. Generally, these are unsecured debts, like credit card bills and medical bills. Certain debts, like alimony and child support, are not eligible for discharge in Allegheny County, PA. Depending on your case, this can happen four to six months after you initially file for Chapter 7 bankruptcy in Allegheny County, PA.
Chapter 13 bankruptcies end once debtors have completed their repayment plans. Depending on your repayment plan, this may be three to five years after you initially filed for Chapter 13
Generally, Chapter 7 bankruptcies remain on credit reports for up to ten years from the filing date, and Chapter 13 bankruptcies remain on credit reports for about seven years from the filing date.
If creditors continue to call for collection once you are longer in bankruptcy, speak to your attorney. Once you have paid your debts, you can begin to move on towards a more financially stable future.
Call Our Allegheny County, PA Bankruptcy Lawyers Today
If you think that filing for bankruptcy is necessary for your financial stability, our attorneys can help. For a free case evaluation with the Allegheny County, PA bankruptcy lawyers at Young, Marr, Mallis & Deane, call today at (215) 701-6519.