When someone is unable to pay their bills, they can opt for a legal process known as bankruptcy. This helps to wipe out their debt, in order to get a fresh start. It also puts a halt to foreclosure or any legal actions against the person, and it stops creditors from calling them to demand payment. Here, we shall look at some of the top things to consider if you are filing for bankruptcy Butler County PA.
Look for help:
In such situations, due to your emotional strain, it is important that you reach out to others for help. You can ask your attorney, and your accountant for advice. It is recommended that you take the help of a bankruptcy lawyer, because a corporate attorney might have limited knowledge, when it comes to dealing with issues such as bankruptcy. You can also considertalking to an investment banker, as they can analyze the financial situation.
Determine your goals:
It is important that you understand the goals of your company so that you can have a favorable outcome. Although it is good to have a goal of full repayment, it might not be realistic in some situations. Therefore, you should take certain steps that return the most funds to creditors and lenders. It might be a bit challenging to keep all your employees on board, but it can be done, with proper planning.
Consider other options:
Before you decide to file for bankruptcy, you can consider options that may not be as drastic. For example, credit counseling may be a good option. You can find a list of approved credit counseling agencies on the website of the US Department of Justice.
Are you looking for a debt relief lawyer in Butler County, PA or a bankruptcylaw firm in Butler County, PA? If you are in Butler, Pennsylvania, one of your best choices would be Dai Rosenblum.
He has over 40 years of experience in business and consumer bankruptcies.So if you are looking for a qualified bankruptcy attorney inButler County, PA, get in touch with him right away!
