Media Bankruptcy Lawyers Explain How Bankruptcy Works

Assisting clients in Delaware and Chester Counties through the filing process

Filing for bankruptcy is more involved than simply submitting some paperwork. You’ll need to decide under which chapter to file, which property you wish to keep, and whether or not a repayment plan is right for you. At David R. Black’s Bankruptcy Legal Group, we’re experienced in providing bankruptcy services for clients who aren’t sure where to go next. Our Media-based law firm has handled hundreds of bankruptcy cases, and we’re prepared to walk you through the filing process step by step.

What to do before filing for bankruptcy

While the benefits of bankruptcy can be wide-ranging, your circumstances may require another option.  We sit down with you to discuss viable alternatives, such as credit counseling, debt negotiations, and loan repayment plans.  If your creditors are unable or unwilling to negotiate, or if you’re afraid of the long-term effects of a potential foreclosure on your credit score, filing for bankruptcy may be the better choice.

Pennsylvania Bankruptcy Filing Process

Our attorneys can help you with the filing process, if bankruptcy is the best option for you.  We’ll let you know what to bring to the first meeting you have at our office so that you’re prepared to begin filing.  Once you’re with us, we can:

  • Evaluate your eligibility requirements.  The U.S. Bankruptcy Code  determines eligibility factors for filing and  is influenced by your income and how it compares to the state average in the county you reside in. Together we can determine whether you qualify for bankruptcy – and if so, which chapter we should file.
  • Analyze which debts can be eliminated. Not all of your debt will be discharged under bankruptcy laws. Debts due to alimony, child support, certain taxes, or student loans are generally not forgiven under current bankruptcy laws.

Filing a bankruptcy lawsuit in Media is complicated and confusing for many individuals. Many people are overwhelmed by their financial debt and become frustrated and confused by the rules and laws governing bankruptcy. Our attorneys ease you through the process, to make it as stress-free as possible.

What to expect once you’ve filed

Once we file the paperwork, the automatic stay goes into effect immediately, putting an end to harassing creditors.  Any assets you accumulate after you file are yours to keep, so you can begin rebuilding your credit and your property. You should be aware, however, that not all creditors will accept the bankruptcy petition. At David R. Black’s Bankruptcy Legal Group, we have helped hundreds of clients by successfully defending bankruptcy petitions.

Learn more about filing for Bankruptcy correctly during a free consultation

Filing for Bankruptcy can be complicated. The attorneys at David R. Black’s Bankruptcy Legal Group help you through the process from start to finish. To schedule a free consultation, call us at 610-365-1052 or contact us online. We proudly serve clients throughout Delaware and Chester Counties.