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…
By Dennis L. Plank, Attorney The COVID-19 pandemic has caused economic chaos in the United States and around the globe. Many Lancaster County homeowners were caught off guard after more than a decade of economic stability and years of record-high employment rates. Without a stable income, many homeowners are now dealing with a mountain of debt. However, Pennsylvania homeowners have financial options. Chapter 13…
The terms used by creditors, bankruptcy courts, and even bankruptcy lawyers can be confusing. When you know the language of debt and bankruptcy, it's often easier to assess your situation and make positive steps towards solvency. Here are some essential legal terms to help you understand the process.
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