Philadelphia Debt Settlement Lawyer

Philadelphia Debt Settlement Lawyer

Bankruptcy has helped millions of people get relief from debt and regain financial control of their lives. However, bankruptcy isn’t always right for everyone. If you need help getting your debt under control, but bankruptcy isn’t an option, debt settlement might be a useful alternative. Serving Philadelphia, Bucks, and Delaware Counties, the Pennsylvania debt settlement lawyers of Sadek & Cooper Law Offices can help you decide whether debt settlement is right for you, and if so, guide you through the process to help you efficiently achieve a better outcome.

Our respected team of debt lawyers and bankruptcy attorneys has years of experience helping Philadelphians manage their finances and get fresh starts. Our wealth of knowledge and extensive experience handling Chapter 7 bankruptcy, Chapter 13 bankruptcy, and debt settlement cases in Pennsylvania enables us to conduct a nuanced assessment of which strategy is best suited to your circumstances and objectives. When you are represented by Sadek & Cooper Law Offices, you’ll have an advocate who will be there to answer your questions, manage your documentation, advise you of your options, and protect your best interests throughout the debt negotiation process with your creditors.

Start getting the debt relief you need to eliminate stress and achieve your financial goals. For a free and completely confidential legal consultation, contact Sadek & Cooper Law Offices at (215)-545-0008 today.

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What’s the Difference Between Debt Settlement, Debt Consolidation, and Bankruptcy?

Debt settlement, debt consolidation, and personal bankruptcy are three approaches to debt which are frequently confused with one another. However, it is critical for debtors to be aware of the significant distinctions between these methods of addressing debt.

Debt settlement is the process of negotiating a payment to your creditors for less than the amount that you actually owe. For instance, if you owe a creditor $20,000, the goal of debt settlement would be to negotiate the debt down to a lower, more manageable payment, such as $13,000. Because debtors are generally expected to begin making settlement payments almost right away, it is critical to approach the debt settlement process with sufficient funds to accommodate the settlement payments.

The term “debt consolidation” sounds similar to debt settlement, but follows a completely different process. Instead of paying the creditor a reduced amount as he or she would following debt settlement negotiations, the debtor makes monthly payments to a third party, such as a debt consolidation company, which then takes a fee and makes minimum monthly payments on the debtor’s behalf.

Bankruptcy works differently depending on whether the debtor files Chapter 7 (“straight bankruptcy,” “ordinary bankruptcy,” “liquidation bankruptcy”) or Chapter 13 (“reorganization bankruptcy,” “wage earner’s plan”). However, both chapters are different from debt settlement and debt consolidation.

In Chapter 7 bankruptcy, a trustee is authorized to sell some of the debtor’s property to creditors. However, debtors can usually keep most or all their property, either because the property can be retained using federal or Pennsylvania bankruptcy exemptions, or because the trustee decides not to sell it due to low value. If the debtor obeys bankruptcy regulations and court rules, liability for most of his or her debts will be wiped out, including credit card, medical debt, business debt, and debt arising from personal loans. That means the filer is no longer responsible for paying those debts.

In Chapter 13 bankruptcy, the debtor keeps all of his or her property. In exchange, the debtor is required to make monthly payments to a trustee, who distributes the funds amongst creditors. This process continues for either three or five years, depending on the terms of the debtor’s court-approved bankruptcy plan, called the “reorganization plan.” This gives the debtor an opportunity to prevent foreclosure and repossession. Additionally, many debts can be discharged (eliminated) in Chapter 13, including certain debts which are not dischargeable in Chapter 7.

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Philadelphia Debt Settlement Attorneys Serving Bucks and Delaware Counties

If you’re struggling to keep up with monthly bills, feel overwhelmed by debt collectors, or find yourself worrying about foreclosure proceedings, it’s time to take action and get financial relief. However, it’s not in your best interests to initiate the debt settlement process or bankruptcy process without legal assistance from a knowledgeable and experienced debt attorney who possesses a strong understanding of bankruptcy laws, debt negotiation strategies, and debtors’ legal rights. If you approach the bankruptcy or debt settlement process without help from an attorney, it is easy to make errors or overlook technicalities that have serious repercussions for your financial outcome.

Don’t go through the debt settlement process alone. Get experienced, efficient, effective representation from Sadek & Cooper Law Offices. Our debt settlement and bankruptcy law firm helps individual debtors, married couples, and business owners throughout Philadelphia, Bucks, and Delaware Counties, including Ardmore, Chester, Croydon, Drexel Hill, Levittown, and more. For a free debt settlement consultation, contact our law offices at (215)-545-0008 today.

 

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SEEWHAT OUR CLIENTS ARE SAYING

Thomas Wright
Thomas Wright
15:09 24 Apr 18
Sadek and Cooper Law did a great job on my bankruptcy case. I really appreciate their assistant. Thank you
Kelly McKenna
Kelly McKenna
11:57 19 Apr 18
This form - specifically Yoninah Orenstein and Patrick Cooper are PHENOMENAL. They were great to work with, very fair with legal fees, and successful in getting an excellent settlement for my divorce (short term marriage
Dessiana Cruz
Dessiana Cruz
13:11 04 Apr 18
I was nervous about bankruptcy, but from the moment I stepped in your office I felt at ease. This process was so easy with your help, that yesterday I was talking to my coworkers about it and recommending your firm to them. You make something that’s scary seem easy and I thank you so much for helping me!
Valerie Nesbitt
Valerie Nesbitt
14:51 03 Apr 18
Sadek and Cooper have been excellent. Everyone has been extremely helpful and patient. The lawyers I have worked with, Matt and Brad, are extremely knowledgeable. I felt very comfortable with them handling my case.
Marlena Lucas
Marlena Lucas
16:08 02 Apr 18
Very simple. Any time I had questions, they were answered quickly. The lawyers are just great. Just a fast painless process.
James Smith Sr
James Smith Sr
13:19 14 Mar 18
Everything has been great. Really awesome job with my case... You and your staff have done a perfect job in my opinion.
Michkel Davis
Michkel Davis
17:02 09 Mar 18
Mr. Sadek was the best and most thorough lawyer I’ve ever met. He’s very human and caring about our case. His whole staff is great too. Highly recommend...
Tamika Richardson
Tamika Richardson
14:56 01 Mar 18
My bankruptcy went very smoothly with your firm. No issues. You are all very nice. That’s why I recommend my sister to your firm and your now helping her too! Thanks again.
Geraldine Ross
Geraldine Ross
14:14 28 Feb 18
This is an Excellent firm to work with; my questions were answered in a timely manner and I felt very supportive in handling my bankruptcy. I would highly recommend this firm to others who have found themselves in a position like mine.
Lavern Baker
Lavern Baker
17:03 23 Feb 18
You are all super lawyers. Brad and Matt made me feel comfortable. Every one in your office so nice and just made it easy. You’re the best!
peter b
peter b
19:42 21 Feb 18
Thank you, Sadek and Cooper Law offices for your dedication on my behalf. I appreciate Matthew and Patrick and your staff and all that everyone did to support me in this legal matter. You took an embarrassing, sad experience, for me, and turned it into a successful solution without all the emotional pain expected. After dealing with a loan modification company for over eighteen months without going to an attorney first that is the biggest mistake anyone can make. The Modification Companies set out to sell you lies, broken promises and dilute the homeowner's assets with no knowledge of any kind of law. I can't stress enough stay away from Modification companies, as a Military Veteran and family man, protect you or your family best interest. Go directly to Sadek and Copper you will not regret it! This firm moves with Super speed and diligence protecting you and your family's the entire process, even after watching some of these other attorneys in the courtroom appearing to mishandled their clients’ cases before the Trustee. You made it easy and I’m finally getting my financial life back on track! Thank you for your prompt replies to me, your clear information and preparation needed when at the courthouse. I would of course recommend you to others and I am glad you were the one who had my case. Kind genuine law firm who treats you like family. God bless you all and I pray for your continued success in your field of expertise. This firm is Super Lawyers for a reason. They are the best at what they do! Pete
Doug Tinlin
Doug Tinlin
06:55 15 Feb 18
Brad Sadek gave me hope when he decided to handle my mortgage for enclosure defense. I had exactly 10 days left of the 30 days ultimatum given me, but he was able to bargain for an extra 30 days for me to pay up. That duration turned out just right.
Jacinth Jacinth
Jacinth Jacinth
16:07 31 Jan 18
Excellent service. Brad and Matt were outstanding and friendly. They helped me through this. I’ve never met attorneys like these. Thank you!
julie njoku
julie njoku
12:29 24 Jan 18
Brad Sadek is excellent!. He understands and he's fair. You feel like you have someone fighting for you. The staff is friendly, professional, and courteous. These guys are the best at what they do !
Owen Black
Owen Black
20:14 09 Jan 18
Thanks for the great service! I would recommend this firm highly. Throughout the years I have been helped by this firm greatly and very much appreciated.
Steven Rychalsky
Steven Rychalsky
15:30 09 Jan 18
Sadek and Cooper law office was a wonderful experience to work with. Bankruptcy is a difficult experience but they helped with the stress so much and made it easy. I would recommend Sadek and copper too anyone.
Chris Kourelias
Chris Kourelias
19:09 28 Dec 17
Working with both Brad & Matthew was a pleasure. Both gentlemen are extremely knowledgeable and helpful in providing me the right assistance needed to make the correct decision to benefit me in the long run. I would recommend both candidates to anyone looking for assistance with a reputable law firm.
Jennyfer Santana
Jennyfer Santana
21:17 21 Dec 17
Highly Recommended. Matt & Brad assisted with my case. I felt comfortable throughout the entire process. Matt was very understanding, patient, and ensured he answered all my questions! Both great guys and very friendly! It was a pleasure working with Matt and Brad.
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