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.
Dennis L. Plank, Attorney In Lancaster County and across the country, Americans are struggling with more and more debt, especially credit card debt and student loan payments. For some people, debt is a necessary but manageable part of their financial picture. However, for others, debt can get out of control. For some households, debt piles up because of poor spending habits and or ill-advised…
By Dennis L. Plank, Attorney Lancaster County residents can take important steps to manage debt, but sometimes that debt snowballs out of their control, and bankruptcy is the best option. Chapter 7 and Chapter 13 are two forms of bankruptcy that can offer individuals financial relief. Chapter 7 focuses on debt forgiveness, while Chapter 13 focuses on reorganizing and repaying debt. Filing for bankruptcy…
By Dennis L. Plank, Attorney While debt is frequently the result of poor money management and overspending, many times financial hardships come from circumstances out of our control, such as layoffs, job loss, and unexpected medical expenses. In these unprecedented times, even those who are careful with their finances may find themselves struggling with unexpected debt. There are a number of options for debt…
By Dennis L. Plank, Attorney Lancaster County residents who are feeling crushed by job loss, unexpected expenses, or mounting bills may feel there is no way out of their financial troubles. But there are legal options for debt relief, and one of them is bankruptcy. Filing for bankruptcy is not for everyone, but for some, it can be the right choice for a fresh…
By Dennis L. Plank, Attorney Recent world events have caught many people off guard. After 11 years of economic stability and years of a record-high employment rate, many Lancaster County homeowners were surprised by recent furloughs or job losses. Others may have found that even a few weeks or a few months without income have buried them in debt. While many people are accustomed…
Click to Call