Chapter 7 and 13 – The Coming Crisis

Today there are 40 million Americans who are unemployed. Small business owners, mom and pop stores are likely another 10-20 million persons. The population of the United States is 330 million persons. More than one half of the 330 million are either senior citizens or under the age of 18. There is an enormous number of good, hard working people who are out of work or have no customers. I don’t think it an extreme to say the country is facing a coming crisis of incredible proportions.

Throughout this country and in Philadelphia, Montgomery and Bucks counties, both chapter 7 and 13 bankruptcy, is going to be a large part of solving this crisis. Companies may liquidate and dissolve in a bankruptcy. People, individuals, husbands and wives, husbands and husbands, wives and wives, do not. People will go through the bankruptcy process, experience debt relief, keep their property, get reorganized, stop law suits, stop sheriff sales and mortgage foreclosure. People will get a fresh start with a bankruptcy whether it is chapter 7 and 13 bankruptcy.

If you are in financial trouble, once you learn what a bankrutcpy is realy all about, what the process is, how you keep your property, how all creditor action will be stopped, how you emerge from the process with your dignity and life intact, you will actually realize that bankruptcy is not the black mark of Satan. After filing a bankruptcy, in a very short time you will have credit once again. You will be able to get a mortgage, a car loan, a credit card.

Bankruptcy and how it relates to your particular situation is far too serious to treat as one size fits all. Your own best outcome depends upon a thoughtful, considered analysis of your financial and personal situation. This can only be accomplished through the confidentiality and respect created by the attorney-client privilage and relationship. A blog, a telephone call, an advertisement can speak to you in generalalities. The best debt solution or bankruptcy outcome will occur in the context of the confidential counsel you receive from you bankruptcy lawyer who will give you the best advice for your situation.