A Bankruptcy Attorney in Lancaster PA Will Help You Through the Bankruptcy Process

Bankruptcy is not an action you should ever be ashamed of. Congress has authorized bankruptcy as a way for individuals and married couples to survive the trauma of a mountain of debt. Creditors can be very harsh and uncompromising in their pursuit of payment of money owed. The terrible hit the economy took in the 90s left many people with no job and no way to pay their debts. This has resulted in people not being able to catch-up when they do get a job at 80% of their previous pay.

The process of filing for bankruptcy is relatively easy. A Bankruptcy Attorney in Lancaster PA can handle all of the paperwork and the details of complying with the legal requirements. You will need to prepare a list of all of your debts including the creditor’s business name, the amount of debt currently, and the last payment made. The attorney may ask for more information, but this is the basic data.

You will also need to prepare a list of your living expenses and the attorney will have a form to make this easier. You will need to list your income and deductions for taxes, FICA and other items. The Law Offices of Going and Plank in Lancaster, PA will assign an attorney to compose a complete picture of your financial condition. He will use this to work with the court to establish how much of your debt you can repay in three years and still allow your family the amount of money needed to live. The amount still owing at the end of three years is written off.

The bankruptcy will stay on your credit record for 10 years and then the credit bureaus will drop it from your record if you have continued to comply with the court order. The bankruptcy will not make it easy for you to get credit any time soon. However, you will be barraged with various credit offers almost immediately after being declared bankrupt. These offers will not be attractive and you would be wise to not take advantage of them. You will find car financing companies willing to fund a loan for you, but be very careful about the terms of the offer.

The Bankruptcy Attorney at The Law Offices of Going and Plank in Lancaster, PA will help you each step of the way toward financial freedom.

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