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Understanding Bankruptcy

Bankruptcy as a Last Resort in Philadelphia, PA

Have you fallen behind on your mortgage payments?

If you have periodically struggled to make mortgage payments, the debt may be piling up faster than you think. Since you have contractually agreed to repay the lender who loaned you the money for the purchase of your home, they have the right to force the sale of your property if you fail to uphold this promise—which is more commonly known as foreclosure. Many people assume that the only way to prohibit or delay this process would be to file for bankruptcy.

Since the court would order an automatic stay once the debtor has submitted their petition, all creditors would be prohibited from continuing their collection efforts until the bankruptcy has concluded. Although this can be a practical solution under certain circumstances, the Philadelphia debt collection defense attorney at our firm truly believes that this financial option should only be utilized as a last resort.

Contact The Law Office of Michael P. Forbes, PC today!

Explore Your Financial Options Before Resorting to Bankruptcy

Although most firms will push their clients to file for bankruptcy when faced with an impending foreclosure action, the legal team at The Law Office of Michael P. Forbes, PC believes that there are numerous other options that should be considered before defaulting to this. Falling behind on your mortgage payments can have a noticeable impact on your credit, but filing for bankruptcy unnecessarily can have much more damaging effects.

For this reason, we prefer that our clients explore their options under the guidance of our firm before settling on an "easy way out." By focusing on a viable long-term solution, you can find a practical way to fight the loss of your home without enduring any needless consequences—which is, ultimately, the goal.

To learn more about how our Pennsylvania debt collection defense lawyer can help, call our office today at (610) 991-3321.

Our Valued Clients Share Their Thoughts

  • “Credit Report Inaccuracy Threatened My Promotion”


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Our Priority is Your Defense

  • Committed

    My firm is proud to deliver high-quality legal representation and compassionate counsel during this difficult time.

  • Knowledgeable

    Over 25 years of experience and the qualifications to fight for you and your rights.

  • Power

    We fight back and make the debt collector pay YOU money for their abusive, harassing behavior.

  • Proactive

    My goal is to reach as many people as possible to let them know that they do have the option to combat collection agency bullies.