Is Bankruptcy Right For You?

When facing significant debt, many people are hesitant to even consider bankruptcy because of the judgment and stigma that seems to surround it. There is a commonly held belief that debt problems are caused by irresponsible choices and selfish behaviors.

But this narrative is false. In fact, the leading cause of bankruptcy in the United States is overwhelming medical debt. Nearly anyone can face financial insecurity due to a single medical emergency, job loss or another unexpected occurrence. And when this happens, bankruptcy is a powerful legal tool meant to help you manage or discharge debt and regain financial health.

At Feeman Law Offices, we are proud to help good people facing bad financial circumstances. When you contact our firm, our attorney will discuss all of your legal options and determine if bankruptcy is right for you. From our office in Lebanon, we serve clients throughout Central Pennsylvania.

Chapter 7 Vs. Chapter 13: What’s The Difference?

These are the two most common types of personal bankruptcy. They share some similarities, but it is important to understand their differences.

When you file Chapter 7 bankruptcy, often called liquidation bankruptcy, most of your unsecured debts can be discharged outright, and will not need to be repaid. Unsecured debt includes medical bills and credit card balances, just to name two examples. It usually isn’t possible to discharge student loans, but discharging other debts can make it easier to pay these loans.

There are income and debt requirements for Chapter 7, and not everyone will be eligible for this option.

Chapter 13 bankruptcy focuses on restructuring debt rather than discharging it. With the help of a lawyer, you can negotiate manageable repayment plans with creditors, usually paying off most of your debts in three to five years.

More people are eligible for Chapter 13 bankruptcy than Chapter 7. Additionally, filing Chapter 13 impacts your credit score for a shorter period of time and makes it easier to protect your important assets.

You can learn more about asset protection on our Bankruptcy Benefits And Protections page.

Contact Us For A Free Consultation Today

Located in Lebanon, Feeman Law Offices serves clients throughout Central Pennsylvania. To discuss your debt relief options for free with an attorney who listens and cares, call us at 717-450-7114 or send us an email.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.