Hopelessly in Debt? Talk to a Lawyer at a Debt Relief Service in Allentown, PA

by | Aug 2, 2013 | Bankruptcy Law

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As consumers attempt to cope with these tough economic times, many have fallen behind with their bills. They turned to their credit cards to pay these bills and now can’t afford to pay the monthly minimum payments on their credit cards. When this happens it’s normal for them to meet with a Debt Relief Service in Allentown PA. They see the television commercials that promise to get them back on their feet and make their debt manageable. While some of these services are legitimate, many are not. Therefore it’s important for consumers to work with an attorney that can provide the same services.

Consumers who are in debt may have many more problems than just credit card bills and medical expenses. They may be fathers who are behind in their child support payments, students who can’t pay back their student loans, or business owners who owe back taxes. Debt consolidation will not help these situations nor will bankruptcy. A lawyer can also contact credit card companies and get them to reduce interest rates and lower monthly payments. He might also get them to forgive some of the balance, for a lump-sum payment. If a credit card company knows that a debtor is considering bankruptcy, they may be willing to work with them and their lawyer. He can also renegotiate child support payments and get back taxes filed properly.

Bankruptcy may play an important role in freeing up cash to pay child support or student loans. It’s important for the debtor to find a Debt Relief Service in Allentown PA lawyer who can combine this into a financial strategy. A person is only allowed to declare bankruptcy every seven years. If the bankruptcy doesn’t wipe out enough debts to get the person back on their feet, they may be worse off in a few years.

The debtor has to realize that during a Chapter 7 bankruptcy, a court-appointed trustee will sell of as many of their assets as he can. He then will divide this money among the creditors. The trustee is on the creditors’ side and not the debtor’s side. It’s the debtor’s attorney who will protect their home and car from the bankruptcy proceedings.


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