Pittsburgh Bankruptcy Attorneys

According to AACER (Automated Access to Court Electronic Records), almost 1.1 million Americans filed for bankruptcy in 2008. In 2009, bankruptcy filings by businesses increased by 78% in the first quarter alone.

Don’t wait to take action. Your life should be more than a series of harassing phone calls from creditors. If you are facing bankruptcy and don’t know what to do, call us immediately at 412-904-1940. We can:

  • Act now to save your home from foreclosure
  • Help you stop sinking hundreds or thousands of dollars into unsecured debt
  • Restructure your finances and budget for a renewed chance at life

Grudowski Law is a member of NACBA, the National Association of Consumer Bankruptcy Attorneys, the only national organization dedicated to serving the needs of and protecting the rights of consumer debtors in bankruptcy. Bankruptcy law is our strongest practice area.

If you’re experiencing financial difficulty, you are not alone. Whether you need a personal or business bankruptcy attorney, contact Grudowski Law online today or call us at 412-904-1940 for a free consultation.

Fighting Misconceptions about Bankruptcy

Yes, bankruptcy law underwent a significant change with the passage of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. Nevertheless, bankruptcy remains a viable option.

Bankruptcy is neither too difficult nor too expensive. And you’re not going to lose everything you have. Nor is bankruptcy always about being irresponsible. It happens to well-run businesses, conscientious seniors, and hard-driving professionals alike.

There are many myths about bankruptcy, and you need a qualified bankruptcy attorney to review your particular situation and recommend the proper type of bankruptcy.

Types of Bankruptcy

Chapter 7
Chapter 7 is also known as straight bankruptcy. It can be used for both for personal bankruptcy and the closing of a business. When a debtor simply does not have the necessary income or assets to pay creditors, Chapter 7 comes into play.

For a troubled business, a Chapter 7 Bankruptcy results in the closing of the business and liquidation of assets. For a personal bankruptcy, Chapter 7 allows the individual to keep certain property and liquidate other property. It does not eliminate responsibility for certain obligations, such as child support and income taxes.

Chapter 13
During Chapter 13 Bankruptcy, a plan is put in place to pay creditors over a three to five year period. During a Chapter 13 case, you pay back part or all of the debt – often with no interest.

Chapter 13 can enable you to stop home foreclosures and vehicle repossessions. In fact, you may be allowed to keep many possessions not allowed with a Chapter 7 Bankruptcy. As a debtor, you must make regular payments to an assigned trustee, which are then disbursed to creditors according to the agreed upon plan.

Chapter 11
You often hear of Chapter 11 Bankruptcy with regard to major corporations; however, it is available to small businesses too. Even sole-proprietorships and individuals can take advantage of Chapter 11 Bankruptcy under the right circumstances.

Chapter 11 can involve the reorganization or restructuring of a company, along with the repayment of all or part of the company’s debt. During restructuring, your company may be able to acquire financing or loans at more favorable terms, as well as cancel contracts which are no longer tenable.

Call a Trusted Bankruptcy Attorney

The rules for bankruptcy vary from state to state, and your case must be reviewed by a qualified bankruptcy attorney to understand how each type of bankruptcy may apply to your situation. Call a trusted bankruptcy attorney today to help guide you through the maze of bankruptcy proceedings.

Call Grudowski Law at 412-904-1940 or Contact Us online any time, we are here to help and we are waiting to hear from you.

Pittsburgh Office

429 Fourth Avenue
Suite 1001
Pittsburgh, PA 15219

(412) 904-1940

Murrysville Office

3925 Reed Boulevard,
Suite 100-C
Murrysville, PA 15668