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.
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.
CommittedMy firm is proud to deliver high-quality legal representation and compassionate counsel during this difficult time.
Over 25 years of experience and the qualifications to fight for you and your rights.
We fight back and make the debt collector pay YOU money for their abusive, harassing behavior.
Whether you have questions or you’re ready to get started, our legal team is ready to help. Complete our form below or call us at (610) 991-3321.
Our Valued Clients Share Their Thoughts
"Credit Report Inaccuracy Threatened My Promotion"R.T.
"They are very straight forward and told us what to expect each step of the way. They are tireless advocates for their clients and profession."RD & AD
"He Got Me Out of a Financial Mess"Jerry Timlin
"Someone You Definitely Want in Your Corner"J.C.
"Fought for Me Like No Other. He's One of the Good Ones."J.W.
I trust Michael and as a result I highly recommend him.Heather C.
He managed to focus on the best outcomes for my family and our businessTH
Michael P Forbes
VOTED AS ONE OF PENNSYLVANIA'S TOP LAWYERS
Mr. Forbes has always been driven by the desire to help others. With that in mind he began his law career representing indigent families in the Philadelphia family law system for seven years.
Let’s Make Bankruptcy your Last Resort!Read Full Bio