bankruptcy Archives -

How to Protect Homeownership in Bankruptcy

By Dennis L. Plank, Attorney Homeownership is often a cornerstone of long-term financial stability, so it can be scary if a mortgage goes into foreclosure. However, even if foreclosure proceedings have already started, there are legal tools Pennsylvanians can use to protect their property. Chapter 13 bankruptcy was designed to help people repay debts, usually without liquidating assets. This type of bankruptcy enables people…

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March 24, 2023

Bankruptcy

Some Types of Bankruptcy Can Protect Home Ownership, Even if Foreclosure Proceedings Have Already Started

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…

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September 15, 2022

Bankruptcy

These Bankruptcy Terms can be Confusing, but Knowing Them may Save You Money.

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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February 23, 2021

Bankruptcy

Can Chapter 7 Bankruptcy Help You get Back on Track?

By Dennis L. Plank, Attorney Filing for bankruptcy does not have to be a sign of failure. Sometimes financial misjudgments and living beyond ones means can quickly snowball into insurmountable debt. However, in other cases, debt is the result of circumstances beyond an person's control, such as overwhelming medical bills or job loss. For people living in Lancaster County and considering Chapter 7 bankruptcy…

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February 26, 2020

Bankruptcy

The Pros and Cons of Chapter 7 Bankruptcy

By Dennis Plank, Attorney Debt is a fact of life for many in Lancaster County, and perhaps for you, too. And sometimes that debt can become overwhelming. You may be wondering if Chapter 7 bankruptcy right for you. Maybe years of poor spending habits, mounting credit card balances and rising interest rates have finally caught up with you. Or perhaps a major life event…

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January 30, 2019

Bankruptcy

Chapter 7 Bankruptcy in Pennsylvania

Is This Debt Relief Option Right for You? When your finances get out of control, you might resist filing for bankruptcy. After all, many people and businesses can find the financial relief they need by selling off assets, downsizing cars and homes, eliminating memberships, rethinking budgets, and reducing expenses dramatically enough to find the funds they need to work their way out of crippling…

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May 5, 2018