Find a Bankruptcy Lawyer in Bethel Park, Pennsylvania

Find the right Bankruptcy attorney in Bethel Park, PA

In Bethel Park, Pennsylvania, bankruptcy is a judicial process in which the debts of a person or business can be cleared or restructured. This allows the debtor to climb out of a financial hole, and move on with a clean slate, which is often more economically useful than requiring the debtor to pay off everything they owe. However, bankruptcy is not a free ride, allowing someone who simply doesn't feel like paying their debts to get out of that legal requirement. It is designed to prevent debt which has little chance of ever being paid back from ruining the life and finances of the debtor. It also carries significant long-term consequences, which must be carefully weighed against the potential benefits. For example, bankruptcy makes it very difficult for the debtor to obtain credit in the near future.

Accordingly, it might be a good idea to consult with a Bethel Park, Pennsylvania bankruptcy attorney. Your lawyer will be able to counsel you about your options, including alternatives to bankruptcy, if such alternatives exist in your case. Whatever the result, it is often difficult to foresee the long-term consequences of any bankruptcy-related decisions, so the advice of a bankruptcy in Bethel Park could prove invaluable.

Types of Bankruptcy in Bethel Park, Pennsylvania

There are three basic bankruptcy schemes that are most commonly used in Bethel Park: Chapters 7, 13, and 11. Bankruptcy is a creation of federal law, so the process for filing for bankruptcy in Bethel Park, Pennsylvania will be roughly the same as it would be anywhere else in the U.S. Chapter 7 bankruptcy, or "liquidation," requires the debtor to sell some of his or her property to the highest bidder, and using the funds from the sale to pay down as much debt as possible. Once the sale is complete, all dischargeable debt is deemed paid in full, whether or not the sale was able to raise the full amount owed. You should note that some property (usually the types of property deemed essential) is fully or partially exempt from liquidation, meaning that the debtor gets to keep it. This includes houses, cars, and retirement accounts, among others. Some types of debts, however, cannot be discharged in bankruptcy, including taxes, child support, and student loans.

The other form of bankruptcy most commonly used in Bethel Park is Chapter 13. It allows a person to pay off their debt over a longer period of time, often consolidating it into one periodic payment. In this system, the amount of money the debtor owes is not actually reduced, but the payment of the debt is made far more manageable. This gives the debtor some breathing room, allowing him to continue to earn a living while slowly paying down his debts, and gives some security to creditors that they will eventually collect all or most of what they're owed. Chapter 11 bankruptcy is almost always used by businesses, but there is nothing that legally prevents it from being used by individuals, and its use by individuals is very rare. Chapter 11 bankruptcy requires the debtor to come up with a restructuring plan - telling the court how they propose to cut costs, fix their operations, and pay down their debts. The plan has to be approved by a majority vote of participating creditors.

One advantage of Chapter 11 bankruptcy is that it allows a business going through it to continue operating, and to trade its stock.

How Can a Bethel Park Bankruptcy Lawyer Help?

The decision to file for bankruptcy in Bethel Park is not one to be made easily, and it definitely should not be made without first obtaining the advice of an experienced Bethel Park bankruptcy attorney.

Talk to a Bankruptcy & Finances Law Attorney now!

Life in Bethel Park

Bethel Park, population 33,000, is located in Allegheny County in Pennsylvania. Though recently incorporated in 1949, its existence as a settlement dates back to the early 1800's. In 1978 Bethel Park residents instituted a Home Rule form of Government. This provides the municipality and Council with greater governance powers than a traditional municipal scheme.

Bethel Park is quaintly situated in the southern hills of the Pittsburgh area. It is located about 8 miles south of Pittsburgh. The city's recreation department currently hosts several activities such as Summer Fun Day and local flea markets. The city also has a Farmer's Market which is open every Tuesday. Recreational activities such as swimming classes, tennis instruction, and aquatic programs are held throughout the city's recreation centers. Some of these centers include the Community Center, Village Green Park, Simmons Park, and Millennium Park.

Other points of interest in Bethel Park include the South Park Wave Pool, South Park Hundred Acres Manor, South Hills Village, and Blade Runners. Pittsburgh's first drive-in theater was also located in Bethel Park. The theater has recently been replaced with several retail shops and restaurants.

Lawyers in Bethel Park, Pennsylvania often file their cases in the Bethel Park District Court located in the town's Municipal Building. Bethel Park lawyers specialize in a wide variety of legal matters and issues.

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