Bankruptcy Attorney in Erie, PA

Bankruptcy laws provide legal status for entities that are unable to repay their lenders. Financial difficulties are common, but this does not imply foreclosure.

Certain factors, such as a financial crisis or supply chain expenses, can lead to financial difficulties, but an attorney can advise you on the best course of action in any given situation.

Michael Alan Siddons is a licensed attorney in Erie, PA. We make certain that we provide the best services possible by focusing on what the client requires in their bankruptcy case. We will assist you in understanding bankruptcy filings that are in your best interests.

For instance, we will advise you on which chapter of bankruptcy will best help you achieve your financial objectives; what to expect from the bankruptcy process; and the risks involved in your case. Our bankruptcy lawyer will assist you in resolving your financial issues.

Our Bankruptcy Services in Erie, PA

Chapter 7 Bankruptcy: Liquidation

This chapter allows a business’s assets to be sold and the proceeds used to pay creditors. The debtor is advised to have a large number of assets so that after paying their debts through a bankruptcy discharge, they will have enough to restart their business.

We will assist you in getting creditors off your back; in this chapter, Michael Alan Siddons evaluates the situation by considering the asset’s value as well as the possibility of losing the assets in a trustee sale. If you are at risk of losing your assets in a trustee sale in a chapter 7 case, we recommend that you file a Chapter 13 petition. You can depend on us for any service.

Chapter 11 Bankruptcy: Business Reorganization

This chapter enables those who are having financial difficulties to reorganize their finances in order to increase the amount of money they can pay back to their lenders.

A Chapter 11 bankruptcy filing assists you in reaching an agreement with your creditor on how you will conduct business and pay the debt. Our attorney will assist you in developing the plan and will provide advice on how to reorganize your finances.

Chapter 12 Bankruptcy: Reorganization for Farmers

This chapter combines some things from chapters 3 and 11. There are more advantages in chapter 12 than in chapters 11 and 13, which include:

• The farm can adjust the interest rate to reduce the monthly amount paid to the lenders and extend the loan.

• This chapter excludes personal property and real estate sales from the capital gains tax.

• There is less oversight from the trustee.

• The debtors do not have to obtain a written contract from the lenders.

If your company is experiencing financial difficulties, please contact us for assistance and additional guidance. We have the necessary skills and experience.

Chapter 13 bankruptcy: Individual Debt Adjustment

It is also referred to as a wage earner’s plan. It assists people with a steady income in determining how they will repay their lenders. The debtor suggests that their creditors use monthly installments over a three-to-five-year period. You can get through Chapter 13 if you stick to a budget and keep track of your paperwork. Our attorney will assist you by negotiating payment terms with your lenders to ensure that the payment is affordable.

Work With Our Bankruptcy Attorney in Erie, PA Today!

Hire Michael Alan Siddons, a bankruptcy attorney in the Western District of Erie, PA, today to provide debt relief. We have the best attorney among other PA bankruptcy lawyers. Our firm has a bankruptcy lawyer with the necessary skill level to handle your case irrespective of how complicated it seems. We have expertise in chapters 7, 13, 11, and 12 of the United States Bankruptcy Court.

Throughout the bankruptcy process, the attorney ensures that you receive legal advice. You will avoid delays in the process, dismissal of your case, and other negative consequences if you prepare and file your work.

We have specialized software that helps in preparing and filing your work. The attorney will also represent you at hearings like Chapter 7 reaffirmation hearings, Chapter 13 confirmation hearings, and others. Our bankruptcy law firm or practice area is located in Erie, PA. We keep your legal expenses or filing fees low by arranging a flat-fee billing and offering a $0 down Chapter 7 bankruptcy filing service. You can visit us for more information about our bankruptcy legal services. Contact or call us at 610-255-7500 for quality legal services involving bankruptcy cases and to get a free consultation.