Chapter 7 and Chapter 13 bankruptcy are two of the most commonly filed types of bankruptcy. Both are legal tools to get debt relief if you can no longer keep abreast of your minimum payments; however, the bankruptcy option best suits you depending on your financial situation, as well as your financial goals.
Most people often go into debt to pay for student loans, buy their first house or car, start a business, child support, taxes, debts incurred through fraud or other bad acts, and so on. You could say debt is a part of life and the easiest way to achieve financial goals that would otherwise be unattainable…
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 on your…
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, it helps…
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 with a…
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 and to…
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 vital to…
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 that allows…
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 many consequences…
With the coronavirus pandemic taking place at the moment, a lot of people feel lost on what they should be doing currently. This is because they don’t know when they will be back to work, they don’t know when things will open back up, where they will be getting their next money from, and so much more. With all of these worries being real problems Americans are dealing with daily, a lot of people may need to consider bankruptcy as their only option.
