Debt can plague even the most financially responsible individuals. Sometimes, the best option for escaping the burden of debt (and the accompanying harassment from creditors) is to file for bankruptcy. This approach is not to be taken lightly; prior to filing, it is imperative that you get in touch with a respected Langhorne bankruptcy attorney such as Kristine A. Michael.
Chapter 7 Bankruptcy
Chapter 7 bankruptcy is more common than chapter 13, particularly among everyday individuals. This approach does not involve creating a repayment plan and in most cases the debtor does not have to give up assets in order to discharge (forgive) most debt. Chapter 7 is not to be taken lightly and is a last resort, but it is the only way for many people to truly startover. Chapter 7 is the best approach for those who wish to promptly obtain a fresh start and move on with their lives.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy is for debtors who need a repayment plan. A repayment plan may be desirable if you need to save your house from foreclosure or if you have so much in assets that you risk losing something important to you in a Chapter 7. The payment plan is based on your income and expenses. Upon completing the payment plan, the remaining balance of most debts which were only partially paid is discharged (forgiven).
Working With a Langhorne Bankruptcy Lawyer
Whether you are currently exploring the possibility of filing Chapter 7, or Chapter 13 bankruptcy, it is imperative that you work with a trusted Langhorne bankruptcy attorney. Your chances of obtaining a desirable resolution are far greater if you have a knowledgeable legal representative on your side.
Your attorney can help you determine which approach to bankruptcy is best in your situation. From there, he or she can guide you through all phases of the bankruptcy process. You can expect assistance with essential paperwork, plus aggressive representation at bankruptcy hearings.
The Law Office of Kristine A. Michael, PC is a top resource for Langhorne residents considering bankruptcy. Attorney Kristine Michael boasts an in-depth understanding of the bankruptcy process, plus clear respect for her clients, no matter their financial situation.
Ready to put debt issues in your past and move on with your life? Look to Ms. Michael for the strong legal representation you need.
We are the ULTIMATE Debt Relief Agency. We help people file for relief under the Bankruptcy Code.