Sometimes residents of Pennsylvania turn to bankruptcy to address their financial difficulties. Depending on one’s situation, that may be accomplished via a Chapter 7 filing. In a filing like this, the petitioner’s assets will be sold and the proceeds disbursed to creditors. Once this process is complete, most remaining debt is discharged and the petitioner can in a sense start over financially. While in many situations filers successfully set off on a ne w financial path, at times, things happen that leave them facing financial hardship once again. In these cases, they may not know where to turn.
Over the course of the last few years individuals throughout the country, including those in the state of Pennsylvania, have faced financial difficulties. These difficulties were due to things such as job loss and a reduction in the value in homes that residents live in. The combination of these factors along with others, left many drowning in debt and unsure where to turn. Some people resolved their financial issues by filing for bankruptcy.