Filing bankruptcy is a powerful means of providing relief for consumers and businesses with burdened with debts, yet the power has limits. Based in Solon, OH, a bankruptcy lawyer at The Podor Law Firm, LLC wants to enlighten the public about what bankruptcy can and can’t do for debtors. With over 30 years of experience helping clients find a fresh financial start, this bankruptcy lawyer knows the terrain well.
What Bankruptcy Can Do
When you need to stop a home foreclosure, car repossession, or wipe out a huge debt of medical and credit card bills, filing bankruptcy does it. Chapter 7 and Chapter 13 filers receive a discharge of debts, releasing them from payment obligations and giving them a fresh financial start. Bankruptcy courts have the power to force creditors to return payments or repossessed property, stop wage garnishments and utility cutoffs, and allow debtors to seek modification of mortgage terms.
What Bankruptcy Can’t Do
A variety of debts survive bankruptcy by design, including most tax debt, spousal and child support, court-ordered restitution, and judgments in cases such as car accidents and wrongful death. Student loan debt is not dischargeable in bankruptcy except under rare circumstances of extreme hardship. Bankruptcy also does not relieve the debtor’s cosigners of their loan obligations.
At The Podor Law Firm, LLC, skilled bankruptcy lawyers give sound advice and provide aggressive advocacy in pursuing debt relief for you. Their goal is to produce the best result for your circumstances and help you achieve a firm financial footing. Find out how the power of bankruptcy can help you overcome your mountain of debt. Talk to a bankruptcy lawyer at The Podor Law Firm, LLC, in Solon, OH, today. Call (800) 699-4529 to make an appointment, and visit them online for more about their legal services.