For many families and small businesses, 2020 has been a very tough year. Anderson & Labovitz, LLC understands the decision to file for bankruptcy is often one of the hardest choices that a person has to make in his or her lifetime. We believe that filing for bankruptcy is a last resort. However, we know that filing a bankruptcy petition can actually be beneficial in a wide range of circumstances.
If you are facing a foreclosure on your home, declaring bankruptcy may stop this from going forward and even establish a payment structure that will help you pay off your arrears. Large medical bills, especially when combined with a loss of employment can create an enormous financial hole that may be nearly impossible to recover from. However, filing bankruptcy can help reduce or even wipe away your medical bills.
Further, bankruptcy can stop harassing creditors from contacting you, especially if they are being unfairly pushy or unreasonable or are fraudulently attempting to take more than you owe. If your utilities have been shut off, bankruptcy will help restore services. Although your student loans will generally not disappear, bankruptcy may help you to consolidate those debts and pay them off in a reasonable time frame.
These benefits are realized by laws enacted by Congress with the fundamental goal of giving debtors a financial “fresh start” from burdensome debts. This “fresh start” is accomplished through the bankruptcy discharge, which releases debtors from personal liability from specific debts and prohibits creditors from ever taking any action against the debtor to collect those debts.
You can trust our attorneys to be advisors in assessing your financial position to determine if bankruptcy is necessary and as advocates through each stage of the bankruptcy process. At Anderson & Labovitz, we handle both Chapter 7 and Chapter 13 bankruptcy cases. Our attorneys can evaluate your situation and determine which type of bankruptcy is right for you. We will explain the options that are available and offer hope to what might appear to be a hopeless situation. Call our office today at 412-209-3200 to schedule a conference to assess your needs.