Debt Management Options from Pennsylvania Lawyers
Bankruptcy may not be your only hope for financial recovery
You have many options to consider when confronting your debt management problem. Harold Shepley & Associates LLC helps you determine the best course of action. Our attorneys explain the benefits and drawbacks of each potential debt relief method.
Chapter 7 bankruptcy
Though our firm makes every effort to help you avoid bankruptcy, sometimes it is the best option. When you file Chapter 7, all of your unsecured debt is usually discharged and you may be able to keep most of your assets. Your credit, unfortunately, is damaged for 10 years when you file for Chapter 7 bankruptcy.
Chapter 13 bankruptcy
Filing bankruptcy under Chapter 13 gives you a much greater chance of keeping your assets. There is no liquidation, and you have the opportunity to pay back your debt. However, your credit is still harmed for seven years after the completion of a Chapter 13 bankruptcy.
Our attorneys favor negotiation over any other form of debt relief. It is the fastest and most effective way to get out of debt without filing for bankruptcy. Your debts can often be settled for less than you owe, and your credit can be restored to an acceptable score. Learn more about how our lawyers handle debt negotiation.
Mortgage foreclosure defense
When you are unable to keep up with your mortgage payments, you are at risk of losing your home in foreclosure. However, your lender may be willing to accept lower monthly payments and extend the term of your loan. Our skilled attorneys can assist you with mortgage foreclosure defense.
Our Litigation Division is focused on defending the rights of those who have been victimized by the credit industry. For residents of the state of Pennsylvania we bring legal action against lenders for predatory lending practices, unfair debt collection practices, and violations of the FCRA (Fair Credit Report Act, the FDCPA (Fair Debt Collection Practices Act), and the FCEUA (Fair Credit Extension Uniformity Act). In addition, we offer legal services for individuals who have been sued for non-payment in the hopes of bringing their situation to a favorable result. If you are currently facing a lawsuit or think your rights have been violated, contact our law firm.
Almost all methods of debt relief have a negative impact on your credit rating. Our lawyers can help you restore your credit and give you back your financial stability. Whatever debt option you pursue, your credit can always be improved with credit restoration.
Beware of easy solutions
Debt consolidation is commonly advertised on television as a quick and easy fix. However, you still have the debt to pay. Our lawyers do not recommend:
- Home equity loans. These are very risky. If you are unable to make your payments, you could lose your home as well as the option to file bankruptcy.
- Consumer credit counseling (CCC). All of your bills are put together in one monthly payment. However, the payment is typically the same total amount that you are already paying.
Our attorneys are committed to debt relief, not debt consolidation.
Choose a law firm that offers a range of debt relief options
You have options. Harold Shepley & Associates, LLC helps you choose a plan of action. Contact our firm at 877.553.3389. You have nothing to lose but your debt.