Filing for bankruptcy isn’t always the best or only option
Bankruptcy is not for everyone! While many cases are best handled with a bankruptcy filing, there may be alternatives to filing for bankruptcy that are better suited to your individual needs.
Scroll to see some options you may want to consider if you’re facing financial troubles in Pennsylvania. Our team at RQP Law is here to clearly explain your options and help you determine if one of these bankruptcy alternatives is more appropriate for your unique situation.
Schedule a FREE consultation with our bankruptcy attorneys in Pottstown, PA
Alternative #1: Modify your home mortgage
Most people who come to us for help with unmanageable debt want to keep their home. Unfortunately, that means they usually have to keep their mortgage in most cases. The good news is that we can work with you and your mortgage provider to modify your mortgage to a manageable amount based on your unique circumstances.
Alternative #2: Pursue debt settlement
Debt settlement is the process of negotiating with your creditors to reduce the amount of debt you owe. This is usually done by a third-party company, but you can also do it yourself. The company or you will stop making payments to your creditors and instead start saving money in a separate account. Once you have saved enough money, you will offer to settle the debt for a lump sum that is less than the amount you owe. The creditor may or may not agree to this offer. Debt settlement can be a risky option, but it can also be a way to save money on your debt.
Understanding your options when filing for bankruptcy
Learn about the bankruptcy options available to you and how we can help.
Chapter 7 Bankruptcy
Learn about unsecured debt and if Chapter 7 makes the most sense.
Chapter 13 Bankruptcy
Reorganize cash flow and provide debt relief from your creditors.
Filing for bankruptcy isn’t always the best solution for debt relief.
Schedule a FREE Consultation
Our experienced bankruptcy lawyers are here to answer your questions about the alternatives to filing for bankruptcy in Pennsylvania. We represent clients in Pottstown, Norristown, West Chester, Reading, and surrounding areas. Contact our PA debt relief law firm today to learn more about how we can help you overcome your legal troubles.
We are pleased to meet with you in either of our Pennsylvania offices to discuss your financial challenges.
192 South Hanover Street
Pottstown, PA 19464
Lancaster, PA 17603