What is Bankruptcy?

Have you been wondering, what is bankruptcy? Experienced Jamestown bankruptcy lawyer Scott Humble explains in this educational legal video.

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One thing people worry about when they think about bankruptcy is that it’s the end of their life, whereas actually what they learn throughout the process it’s actually the beginning of a new stage or chapter in their life. The preconceived notion is that they’re going to lose everything. Actually, the only thing that they lose is their debt. For Chapter 7, we wipe out the unsecured debt, and they keep their assets. If they’ve got too much equity in their assets, then we look at a Chapter 13 to save those assets.

Other good reasons to file a Chapter 13 would be that you’ve got tax problems. It doesn’t matter if it’s real estate taxes or income taxes, we can resolve those issues, and if you’re behind on a vehicle or it’s even been repossessed, as long as it hasn’t been sold, I can file Chapter 13 and get that vehicle back for people..

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Out of Town Legal Resources

Many times we hear from people who need help in other areas of the country. While we don’t practice in Pennsylvania, we have found these bankruptcy lawyers near Philadelphia, PA who could be very helpful. They have created a lot of great online educational content that you or someone you know may find valuable if you are looking for bankruptcy information in Pennsylvania. Take a look at their online bankruptcy resource page.