Long ago in the history of America and England, we had what is known as Debtor’s Prison. If you owed lots of money to many people or a large amount of money to one person and you did not pay it back on time, the creditor would take your property and have you thrown in prison and the stockade. Today, at least in Philadelphia, if you owe money and are behind on your bills, you can do much, much better than that. A Philadelphia bankruptcy lawyer can see to it that you take full use of the chapter 7 bankruptcy law. You won’t go to jail. And, it is highly likely you won’t have to give up anything you own.
In the Colonial Days, being overwhelmed by debt crushed people. Our society and laws are smarter today. The idea that debt is wrong and must be punished has long ago changed. In the olden days, bankruptcy and debt was a stigma to be avoided at all costs; you were punished. Today, the world and our economy, functions on debt. Without credit cards, home loans, car loans you can’t get good credit. Everyone wants to have good credit.
As a Philadelphia bankruptcy lawyer, we have the tools and knowledge of the bankruptcy law to help you get your good credit back in as short a time as possible. Unlike the Olden Days, you won’t go to prison and you will keep your property. Americans are optimistic and hopeful. Our bankruptcy law is written to give people a fresh start in life. You are not going to be punished for filing bankruptcy. Chapter 7 and 13 are written to allow you to keep a great deal, if not all of the things you own. As a Philadelphia bankruptcy lawyer, we will make full use of these exemptions to be sure you are completely protected.
In 2014 nearly 1 million Americans filed for bankruptcy protection. These people eliminated more than $30 Billion in debt; this includes credit card debt, second mortgages, home equity loans, 1st mortgages for home under water, car loans and medical bills. Tax payments were reorganized (and at times eliminated) as were mortgage arrears. Mortgage foreclosures and sheriff sales were stopped by court order as permitted by chapters 7, 11 and 13 bankruptcy.
We are a Philadelphia, Montgomery and Bucks county law firm that has been representing people and businesses for 30 years. We can help you eliminate your debt, keep your property by using the exemptions and keep you out of Debtor’s Prison. – just joking as the Debtor’s Prison, that was taken out of the law more than 175 years ago! We know our history as well as the law – in Ancient Rome they could cut you up and feed your body parts to your creditors.
After all of this, if you are at all experiencing financial pressure, bankruptcy may or may not be the right step for you. There are other debt negotiations and debt settlement options. Please make an appointment to review the specifics of your situation and see what the right answer is for you. Call 215-822-2728. We will make sure you keep all of your body parts, your freedom and your property.