The Poconos Bankruptcy Lawyers at Newman Williams can assist you with a Chapter 7 Bankruptcy Filing in Stroudsburg, PA and the surrounding areas.
Bankruptcy was an accepted concept long before Newman, Williams, Mishkin, Corveleyn, Wolfe & Fareri, P.C., opened its doors in 1923. It was deemed wise to provide a safety vault for families mired in unpayable debt, to allow them back into the economy.
Solving Serious Debt Problems With Consumer Bankruptcy
Today there are two common forms of bankruptcy relief, Chapter 7 and Chapter 13. Chapter 13 is sometimes called wage-earner bankruptcy. It seeks to stretch out payments so that they are achievable. Chapter 7 is referred to as liquidation bankruptcy. It is for people who are simply unable to pay their debt no matter how payments might be rescheduled.
Chapter 7 is an appealing option for people who have large amounts of unsecured debt such as credit card or medical bills. Very often, people seeking Chapter 7 protection have experienced downturns due to the economy, health problems or divorce.
Those who qualify for Chapter 7 are able to discharge their debts without any further obligation to creditors. The entire process can be completed in as little as six months.
Contact Our Stroudsburg Office To Discuss Discharging Your Unpayable Debt