Quick Answer: People going through financial hardships and debt issues typically consider filing for bankruptcy as a final resort. Filing for bankruptcy is a legal process meant to help individuals or businesses get rid of debt. It also helps people repay a portion of the money they owe. This debt relief process has long-term effects…
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Quick Answer: When falling behind your finances, the pressure from creditors and debt collectors can hastily become overwhelming. Fortuitously, bankruptcy laws provide a means for overwhelmed individuals with debt to end the dreadful experience and get a fresh start. Filing for bankruptcy initiates an automatic stay, instantly stopping creditors and all debt collection activity. Furthermore,…
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Quick Answer: Filing for bankruptcy will affect your credit score for seven to ten years, depending on the type of bankruptcy filed. As a result, you may face higher interest rates if you attempt to get a loan or line of credit, but don’t worry. Our experienced team at Siddons Law Firm is here to…
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Quick Answer: The COVID-19 pandemic has taken an incredible toll on many homeowners in unexpected ways. As a result, millions of Americans have fallen behind on mortgage payments and face foreclosure. Thankfully, the Consumer Financial Protection Bureau (CFPB) has recently finalized a rule that creates safeguards to give homeowners the opportunity to avoid foreclosure. The…
DetailsQuick Answer: Bankruptcy offers many people around the country hope for their financial future. While many people turn to bankruptcy in serious circumstances, it also provides an opportunity to rebuild your finances. Focusing on the basics of budgeting after bankruptcy helps with this process. Working with bankruptcy lawyers allows you to handle bankruptcy proceedings well…
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Quick Answer: When overwhelming debt faces you, you have two different options from which to choose to help alleviate your financial distress: debt settlement and bankruptcy. Filing for Bankruptcy or debt relief options often seems like a last resort; in reality, they’re not; they give you control of your financial situation. Each offers distinct advantages and disadvantages, so it is…
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Quick Answer: When you need a loan for your real estate company or any other small business, you could be at risk of losing your assets if you sign a Confession of Judgment. Unless you are familiar with the language that indicates the inclusion of this type of clause, you may unknowingly sign a document…
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Quick Answer: Being in debt proves stressful enough on its own but owing a debt in the middle of a pandemic can throw debtors into a downward spiral with no end in sight. While many Americans enjoyed a reprieve from debt collection practices during the height of the coronavirus pandemic, several of those programs remain…
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Quick Answer: Forbearance programs give a break to people who owe money during difficult financial times. Such a program may allow borrowers to pay less per installment or to suspend making payments altogether for a time. The coronavirus pandemic has been an extremely turbulent period in which many households have lost work and grappled with…
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Quick Answer: Pennsylvania Courts Are Not Prepared For The Wave Of Bankruptcies That Will Result From The Coronavirus It is no secret that the coronavirus outbreak has crippled Pennsylvania’s economy. Unemployment in the state is sky-high and businesses that were doing well before the outbreak have suddenly found themselves in the red. One of the…
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