Sadek Bankruptcy

Chapter 7 Bankruptcy as a First Option, Not a Last Resort

Top Bankruptcy Attorneys and Home Foreclosure Defense Attorneys.

Over 750 ★★★★★ Google Reviews

brad sadek

Contact Our Attorneys Today

bbb badge
three best badge
rated by super lawyers sadek
FREE CASE
EVALUATION

At Sadek Bankruptcy Law Offices, we realize that every situation is different. Our debt relief lawyers will take the time to learn about your situation and your goals. Our objective is to explain your legal options and offer the best debt relief strategy for you in the most compassionate and friendly manner possible. Call 24/7 to schedule your meeting with a lawyer.

PAYMENT PLANS
AVAILABLE

Our office understands the financial stress our clients endure. Therefore, in addition to reasonable legal fees, we offer a payment plan to all of our valued clients to make quality legal services most affordable.

OFFICES IN PA
AND NJ

In addition to our primary law office in Center City, Philadelphia, we also have law offices throughout the Greater Philadelphia, Pennsylvania Area and in New Jersey. Our branch offices have contributed to making us the #1 Bankruptcy Filer and debt relief firm in the Greater Philadelphia area. Our goal is to have a convenient location within 20 minutes of where our clients work or reside.

Chapter 7 Bankruptcy as a First Option, Not a Last Resort

A recent blog by Steve Rhode of Huff Post was titled “Why a Chapter 7 Bankruptcy Should Be Your First Option and Not a Last Resort.”  It discussed the financial benefits of exploring bankruptcy first in order to best address relieving debt.  In Philadelphia and its surrounding counties, those dealing with credit card debt, collection lawsuits or foreclosures, can obtain a free legal consultation from an Attorney at Sadek Bankruptcy Law Offices Law Offices to fully review their options.

An example given in the blog post and original article written by Michael Boyee, explored the pros and cons of attempting to pay off approximately $25,000.00 in credit card debt over 5 years.  This took for granted that the debt could be repaid without interest, which is not always the case.   After the example repayment was completed, was the correct financial choice made?

“If you do not look back, you will not see that the real cost of your consolidated repayment was not 25 thousand dollars. It was as much as $590,000.00 if you were to have instead contributed that same $418.00 into a retirement fund for that 5 years; for a total of roughly 32k; with an average return of 9.74%; until you reach a retirement age of 65.”

“The math clearly favors chapter 7 bankruptcy. The complications are introduced by our individual emotions, and the perceptions of the conventionally wise.” -Michael Boyee

If you are struggling with debt and considering your options, let our attorneys give you a free legal consultation.  Our goal is to create a solution to your particular financial situation that is in your best interest, and that you are comfortable with.

Share This Story

Facebook
Twitter
LinkedIn