By Dennis L. Plank, Attorney Bankruptcy can effectively manage some types of debt, but it's not suitable for everyone. Many people are confused about what bankruptcy covers, who should file for Chapter 7, and who should file for Chapter 13. However, few people can "choose" which type of bankruptcy to file. Instead, the law determines which type of bankruptcy is most appropriate based on the…
By Dennis L. Plank, Attorney Pennsylvania Chapter 13 bankruptcy is a legal tool developed to help people repay debts without liquidating all of their assets. It’s potentially beneficial for homeowners who want to manage debt without losing their homes. This type of bankruptcy was designed to help usually steady earners get back on their feet after a rough period. Sometimes referred to as the…
By Dennis L. Plank, Attorney For some people, bankruptcy is an effective way to manage or eliminate debt, but it’s not the best option for everyone. In fact, many people don’t qualify for bankruptcy. Some may find that bankruptcy will not address their most pressing debt needs. Determining if bankruptcy is the right option can be confusing. So, we’ve compiled a short quiz to…
By Dennis L. Plank, Attorney Debt is a difficult burden to bear. For homeowners especially, debt can spiral out of control unexpectedly. And when the roof over one’s head is at stake, the stress of snowballing debt can be overwhelming. In these cases, bankruptcy may be the best available option. The two primary forms of bankruptcy available for homeowners in Lancaster County are Chapter…
By Dennis L. Plank, Attorney People file for bankruptcy for many different reasons. Medical expenses, job loss, excessive use of credit, divorce and separation, and unexpected expenses are just a few reasons Lancaster County residents might choose this option to manage debt. And while some people can stop debt from spiraling out of control before bankruptcy is necessary, others cannot stabilize their financial situation…
By Dennis L Plank, Attorney Many Lancaster County residents try to reduce or manage their debt, but often it can spiral out of control unexpectedly. In these cases, bankruptcy is an option that prevents one from being buried under a seemingly endless pile of debt. There are two kinds of bankruptcy that individuals can file for financial relief purposes: Chapter 7, which focuses on…
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