No matter how careful you are with your money, it is possible to fall behind in your bills. A sudden, serious illness could lead to costs for diagnosis and treatment that are astronomical. The death of a spouse could reduce your income in half. A sudden job loss could lead you to be unable to pay your bills as you originally agreed. This could mean you are now facing collection calls or you could even be facing foreclosure on your home. We are here to help.
Chapter 7 Bankruptcy Attorneys Serving Glenside PA
If you have very few assets and do not have a steady income, Chapter 7 bankruptcy may help you get a fresh financial start. Under Chapter 7, all unsecured debts can be eliminated, including credit cards, personal loans and even payday loans. Even if you have some assets, they may be protected under what are known as bankruptcy exemptions. This may include your car, your home and tools you use for work. When the bankruptcy is filed, an automatic stay is issued to your creditors forbidding them from contacting you any further about your debt. Wage and bank account garnishments may also stop.
Chapter 13 Bankruptcy Attorneys Serving Glenside PA
If you have a steady income and assets that may not be protected under Chapter 7 bankruptcy, Chapter 13 bankruptcy may be a better option. Under this bankruptcy, your debts are reorganized and you pay them over a three- to five-year period. Because you may not be required to pay the debts in full, late fees are eliminated and interest rates may be lowered, the payments are low enough for you to afford. If you are behind in your mortgage, vehicle loan or student loans, you may be able to include the past due amounts in your bankruptcy repayments as long as you can continue to make your regular payments. This can prevent foreclosure or repossession. Like Chapter 7, Chapter 13 bankruptcy also brings an automatic stay so creditor calls stop.
Loan Modification Attorneys Serving Glenside PA
Loan modifications may help you avoid foreclosure if you are behind in your mortgage payments. Under a mortgage loan modification, the terms of your loan are changed so that your payments are more manageable. The lender may reduce your interest rate, waive some of the principal or extend the months you must pay from 30 to 40. This can help you remain in your home and avoid foreclosure.
Real Estate Attorneys Serving Glenside PA
Whether you are buying or selling property, you need real estate attorneys to represent you. Each side of the real estate table has different requirements and needs, so it is important to have someone who understands the complicated legal aspects of a real estate transaction. Real estate attorneys understand both the buyer and seller legal requirements and can guide you throughout the process. It is important to have your own attorney represent you, however, to be sure your best interests are kept in mind.
If you own a business that is suffering from financial difficulties, Chapter 11 bankruptcy may be for you. Chapter 11 bankruptcy can help get your business back on its financial feet. If you are facing financial difficulty, either in your personal or business life, or are in need of real estate advice, contact us today to see how they can help. You can arrange for a no obligation consultation by completing the form or contacting us by phone.