Overwhelmed By Debt You Can’t Repay? Relief Is Available.
While it may not be desirable, filing for bankruptcy sometimes can be the best option for solving your financial issues. When individuals and companies find themselves with too much debt, bankruptcy law can help them get a fresh start. If done properly, you can avoid creditor harassment and take control of your finances. Filing bankruptcy can also help you save your home from foreclosure, get caught up with your IRS bills and restore your credit score.
Your right to file bankruptcy is guaranteed under the Constitution, and for many people, exercising that right can mean the difference between regaining control of their future and financial ruin. If you’re facing overwhelming debt in Allentown or the surrounding areas of Pennsylvania, contact The Law Offices of Everett Cook, P.C., to learn how an experienced attorney can help you find debt relief.
There Is No Substitute For A Personal Analysis With An Attorney
When filing for bankruptcy, there are some debts that are not erased, and there are some limits to the value of the property you can keep. If you are considering filing bankruptcy, attorney Everett Cook will examine your finances, debts and assets and offer you advice on whether bankruptcy can help you. Attorney Cook will be able to advise you on what debts can be erased, what property you can keep and what chapter you can file under. If your situation can be helped with a bankruptcy, he can begin your bankruptcy case the same day as your initial consultation.
The three most common types of bankruptcy include:
- Chapter 7 bankruptcy: Appropriate for individuals and businesses who have significant unsecured debt without the ability to repay them over time. Most unsecured debts in Chapter 7 are discharged and the case can be resolved in a matter of months.
- Chapter 11 bankruptcy: Most appropriate for businesses that are in financial trouble yet would otherwise be profitable. The Chapter 11 bankruptcy process allows the business to stay open in many cases.
- Chapter 13 bankruptcy: Instead of discharging debt, Chapter 13 focuses on reorganization and repayment over a period of three to five years.
Mr. Cook and his staff take pride in offering clients the finest representation, personal service and professionalism, all at surprisingly affordable rates. They have helped hundreds of Allentown area residents save their homes, their retirement accounts and regain their peace of mind. Attorney Cook assists individuals, couples and companies to find the best options for their unique situations.
There Are Numerous Benefits To Filing For Bankruptcy
The bankruptcy code has gone through many revisions. The most recent revision in 2005 allows you to keep you personal property, car, retirement accounts and your home while erasing all of your dischargeable debts. A discharge is an order signed by a judge that frees you of the obligation to repay your debt. Debts that are dischargeable in bankruptcy are credit card debts, store charge debts, unsecured loans, personal loans, medical bills, legal bills, civil judgments, lawsuits and some mortgages.
While filing bankruptcy should be a last resort, it can be beneficial for those who can’t pay off their debt. Benefits include:
- Avoiding creditor harassment
- Keeping your home, car or other assets
- Erasing all credit card debt, medical bills and civil judgments
- Creating a payment plan to cover part of your debts
Each bankruptcy chapter has its own pros, cons and important considerations. Therefore, it’s important to discuss your legal options with an attorney like Everett Cook.
Reach Out Today For A Free Initial Consultation
The Law Offices of Everett Cook is pleased to offer free initial consultations to all prospective clients in Allentown and surrounding areas of Pennsylvania. To schedule yours, call 610-673-0907 or submit an online contact form.
Everett Cook is a debt relief agent. He helps people file for bankruptcy relief under the Bankruptcy Code.