Bankruptcy is a Fresh Start, Not the End:
Bankruptcy is often seen as the end of everyone’s financial well being. However, the bankruptcy laws were created to give an individual or business a fresh start. Sometimes unforeseen events, like medical emergencies, divorce, or unemployment, occur and put you behind in your payments. We’re here to help you figure out whether bankruptcy makes sense or if there are other alternatives. Our goal is to help you get back on track with your life.
The word “foreclosure” is one of the few words that causes more people to cringe than the word “bankruptcy.” A foreclosure first enters someone’s mind when he or she receives an Act 6/91 Notice or the sheriff stops at his or her door to serve a foreclosure complaint. Often we receive calls when one of these two things happens asking how long someone has to live in the property before the bank takes the house and everything inside. If you just received demand letter, notice, or you were served with a complaint, a foreclosure is not going to occur for several months and you have time to resolve the debt. However, we highly recommend setting up an appointment to review your situation and determining the best course of action.
While we represent debtors both in bankruptcy and outside of bankruptcy, we also represent creditors. If a someone that owes you money files bankruptcy, the first thing you should do is stop any action you have taken against that individual, including a lawsuit, writ of execution, or sending demand letters. Depending on the debt you are owed and if it is secured, you may have an opportunity to collect the secured assets. You will also have an opportunity to file a claim in the individual’s bankruptcy case. Having represented both debtors and creditors, we understand the advantages of each side and can help you through this process.