If you are being harassed by collection agents because your bills are past due, you may feel stress each time the phone rings. You know the person on the other end is going to berate you for not sending in a payment. You’ve tried to explain that it wasn’t your fault, that you lost your job or had unexpected medical bills to pay. Or maybe you are dealing with business debt that you don’t know how to pay due to unforeseen circumstances in your industry. You may even be seeking advice on a real estate transaction. Whether you need to file Chapter 11 bankruptcy, talk about ways to get back on your financial feet or are considering a real estate transaction, contact us to learn how they can help.
Chapter 7 Bankruptcy Attorneys Serving Cheltenham PA
If you have little or no income and don’t own many assets, you may qualify to file Chapter 7 bankruptcy. Chapter 7 bankruptcy is a liquidation bankruptcy where your assets can be sold to pay your creditors. However, for those who don’t have much in the way of assets, like no equity in their home, or whose assets are exempt from seizure, Chapter 7 is a great way to get a new financial start. All unsecured debt can be eliminated and the automatic stay issued by the federal courts stops all collection calls and even garnishments you may be dealing with.
Chapter 13 Bankruptcy Attorneys Serving Cheltenham PA
If you have assets and a regular income, Chapter 13 bankruptcy may be a better option. Under Chapter 13, you repay your debts over a three- to five-year period. Because creditors often forgive some of the principal, lower interest rate and waive late fees, your payments are lowered and you can pay the debts off more quickly. The business version of a Chapter 13 bankruptcy is known as a Chapter 11 bankruptcy. You can even include past due payments on your mortgage, vehicle or student loan, although you must be able to keep the loan current throughout the bankruptcy process and you receive a discharge through the court system.
Loan Modification Attorneys Serving Cheltenham PA
If you are behind in your mortgage, you could be facing foreclosure. One way to keep your home is through a mortgage loan modification. In a mortgage modification, the lender can either reduce the principal, lower interest rates or change other terms of the loan so that your payments are lowered, arrears cancelled and you can avoid foreclosure on your home.
Real Estate Attorneys Serving Cheltenham PA
Real estate is a complicated process and, too often, both the buyer and the seller agree to share an attorney. Unfortunately, the party who hired the attorney may make out better than the party who agrees to share as the attorney will have their client’s best interest at heart. This could mean problems at settlement or unwanted surprises in paperwork later. It is critical that both parties in real estate transaction have their own real estate attorneys to handle the legalities of the transaction.
If you are facing collection calls or foreclosure, or if you are considering a real estate transaction, contact us today by completing the easy form or give us a call to arrange for your initial consultation.