The economy is tough these days and many people have befallen tremendous losses, both financially and personal. It is difficult to make decisions when, in the midst of negativity and gloom, your nest egg and all financial gains are gone. There is help and there is, indeed, light at the end of the tunnel. Law Offices of Going and Plank and others are in place to assist you in your troubling times and can direct you through the twists and turns of bankruptcy options.
Bankruptcy should only be pursued if all other alternatives have been exhausted. Bankruptcy should always be the last resort when repairing any financial calamity. Competent legal representation is extremely necessary when filing for bankruptcy and it is wise to seek representation prior to filing for bankruptcy to consult with a lawyer and ensure there is no other feasible way to rectify your financial situation. Bankruptcy Attorney in Lancaster County and others are here for you during this stressful time to give you the tools and confidence to get back on the financial track.
The two types of individual bankruptcy option is chapter 7 and chapter 13. Chapter 7 is also called fresh start because that is basically what it does. It gives you a fresh start by ceasing all liens and collections while eliminating all debt. It is the most sought after bankruptcy proceeding, keeping lawyers busy busy. All debts will be wiped off the slate and no continued payments, on existing debts, are required. After filing for Chapter 7, those nasty collection calls will be silenced, as well, reducing the stress of being in debt. You will, finally, be able to focus on financial recovery for your future.
Chapter 13 bankruptcy will allow you to repay and get current on mortgages, car payments, and other bills while incurring loss of wages, reduced income, or loss of income. It is similar to a bill consolidation program and gives you precious time to get your affairs in order at a reduction of the cost. This will stop foreclosure proceedings and end debt collectors calling.
Bankruptcy is not an easy choice to make, but with legal representation it may be necessary and right for your unique situation, finally repairing all financial woes.
