When an individual is considering filing for bankruptcy, they often have many concerns about the future. What will happen to my credit? Which debts will I be allowed to get rid of? What paperwork do I need to fill out? Filing for bankruptcy raises many questions and challenges — but at Young, Marr & Associates, we have the experience to guide you through the entire process with understanding, respect, and compassion, from the first step all the way to the very last.
Our attorneys have been practicing bankruptcy law in Quakertown, PA for over 20 years. With over 5,000 filed cases under our belts, we have the hands-on, real-world experience to answer every question and meet every challenge that your case poses. No matter what aspect of consumer bankruptcy you require assistance with, our Quakertown, Pennsylvania bankruptcy attorneys are armed with the practical knowledge you need to succeed.
Why Hire an Attorney?
At Young, Marr & Associates, we completely understand that individuals in a position to be considering bankruptcy often have concerns about the costs of retaining legal assistance. Due to these concerns, some people even decide to file for bankruptcy on their own, without a bankruptcy attorney to help. While this may seem like a savvy course of action at first glance, the costs of making a filing error dwarf the costs of hiring an attorney.
Bankruptcy law is dense with financial and legal jargon that the vast majority of people have no experience interpreting, let alone responding to. The amount of paperwork alone is overwhelming — there are dozens of different bankruptcy forms available for download on the official website of the United States Courts (and that’s just under “Part I”). As with taxes, making even an apparently trivial error can lead to huge expenses and lost or diminished exemptions. If a deadline is missed, or a critical piece of information is omitted or misrepresented, a bankruptcy case can even be dismissed completely.
We appreciate where our bankruptcy clients are coming from financially, and we pledge to create affordable, cost-effective plans.
How Can Bankruptcy Help Me?
Bankruptcy offers a variety of benefits and advantages to petitioners. The most obvious benefit is debt reduction and elimination, but consumer bankruptcies arm petitioners with an even wider range of tools to help them achieve — and maintain — long-term financial stability. Some common advantages of filing for bankruptcy include:
- Debt discharge. Regardless of the type of consumer bankruptcy a petitioner is filing for, most debts can be eliminated, or “discharged.” Depending on the type of bankruptcy a petitioner enters, dischargeable debts can include personal loans, business loans, medical bills, utility bills, and credit card bills.
- The automatic stay. When a petitioner files for bankruptcy, they immediately come under the protection of the automatic stay. Under the automatic stay, creditors must cease contact, wage garnishments stop, and foreclosure and eviction actions are postponed. Additionally, utility service shut-offs resulting from failure to pay are also delayed. For something like an unpaid heating bill in the dead of winter, that can be critically important.
- Property protection. In some cases, bankruptcy can not just delay, but completely halt repossession actions. Bankruptcy can allow a debtor to hold onto their home, car, or other precious possessions.
- Stress relief. The circumstances leading up to a bankruptcy are virtually always stressful. Harassment from creditors and worries about the future can combine into a nightmare of anxiety and uncertainty. With relief from debt, protection of assets, and perks of the automatic stay, petitioners can regain confidence and control.
In many scenarios, filing for bankruptcy is a smart, responsible, and proactive way to repair damaged and overburdened finances. However, the process of filing for bankruptcy without the assistance of an attorney can be full of obstacles. If you or a loved one is considering consumer bankruptcy, contact the law offices of Young, Marr & Associates online, or call us at (609) 755 3115 in New Jersey or (215) 701 6519 in Pennsylvania today. Our in-depth consultations are always confidential, and your first consultation is free. Take control of your finances today with Young, Marr & Associates.