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Bankruptcy

The decision to file for bankruptcy is often one of the hardest choices that a person has to make in his or her lifetime. Poor planning can often make the process even harder. It goes without saying that filing for bankruptcy should generally be a last resort, and should only be done when all other methods of satisfying one's financial obligations have been exhausted. However, if your situation has become so severe that you are in danger of foreclosure, garnished bank accounts or repossessions, or are facing debts that you are unable to repay, putting off the inevitable can have devastating consequences. Procrastination can cost you your car, your wages, and even your home. Filing your case in a timely fashion can spare you these losses. 

Filing a bankruptcy petition can be beneficial in a wide range of circumstances:

  • If you are close to foreclosure on your home, declaring bankruptcy may stop this from going forward and even establish a payment structure that will help you pay off your arrears.
  • Bankruptcy may allow you to take back an automobile that has been repossessed by a creditor.
  • Large medical bills, especially when combined with a loss of employment can create a nearly impossible financial hole to climb out of.  Bankruptcy can help reduce or even wipe away your medical bills.
  • Bankruptcy can stop harassing creditors from turning up on your doorstep, especially if they are being unfairly pushy or unreasonable or fraudulently attempting to take more than you owe.
  • If your utilities have been shut off, bankruptcy will help restore services so you do not have to live in darkness.
  • Although your student loans will generally not disappear, bankruptcy may help you to consolidate those debts and pay them off in a reasonable time frame.
  • Bankruptcy can end collection and garnishment actions by your creditors, which means you will be able to afford life’s necessities.  

If you are currently facing one or more of these issues, bankruptcy may be the best and most logical way to get a fresh start on your financial start.  Contact our law firm to assess how filing bankruptcy can impact your individual situation.


The Law Office of Forrest B Fordham, III serves clients throughout Cambria County, Blair County, Somerset County, Bedford County, Allegheny County, Westmoreland County.



© 2019 The Law Office of Forrest B Fordham, III
351 Budfield Street, 2nd Floor, Johnstown, PA 15904
| Phone: (866) 848-5015 | (814) 266-7425

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