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Montgomery County Alternatives to Bankruptcy Lawyer

Understanding Your Options for Debt Relief

When your debt reaches the point where you no longer know what do to, just remember that you have options. Bankruptcy is certainly one of those options, but there are a number of alternatives that may actually work better in your situation. To make the right decision, it is important to work with an experienced, trusted attorney.

At Alfred Abel Law Offices, we are ready to counsel you about the different ways that may be available to reduce debt and get your financial situation back under control. We will take the time to listen to you and develop an understanding of what has happened, what has put you in a difficult situation. We will analyze your finances and offer practical solutions tailored to individual needs.

To discuss bankruptcy alternatives with an experienced Montgomery County attorney, call We serve clients across eastern Pennsylvania as well as many from out of state.

What Bankruptcy Alternatives are Available?

Whether you are seeking debt relief as an individual or for your business, there are a variety of bankruptcy alternatives that may meet your needs. Our Jenkintown bankruptcy attorney can help you decide if one of these is right for you:

  • Consumer and business loan workouts: Workouts allow you to negotiate with a lender to restructure the terms of a loan. Our firm has helped clients reach compromises in the amount to be paid and arranged for payments to be made over time..

  • Consumer loans and unsecured debts: We can defend these cases and we will work hard to reach a favorable settlement with your creditors. We are able to find weaknesses in the creditors' case against you, and use that as leverage to reach a settlement.
  • Assignment for the benefit of creditors (ABC): Especially useful for insolvent businesses, an ABC is an affordable, efficient way to eliminate debts and wind up business operations without filing for bankruptcy.
  • Debt settlement agreements: When credit card debt becomes seriously delinquent, the credit card company may sell the debt to a collection company. These companies are often amenable to accepting less than the full amount owed. But, some of these companies are less than reputable. Before choosing this option, be sure to seek the advice of our skilled attorney.
  • Forbearance: Some mortgage lenders will agree not to foreclose on a house and instead agree on a mortgage plan that would bring you current on your payments within a certain timeframe.

A Word on Credit Counseling

Credit counseling is often advertised as a solution to become debt free. In some cases, these companies are working for credit card companies and may not have your best interests in mind. You will likely have better results by negotiating with your creditors directly rather than hiring a credit counseling service.

Contact a Norristown Commercial Loan Workout Attorney

Commercial and consumer debt compromises reached through debt negotiations may be an option for you. To speak with an experienced lawyer about whether you can manage your debt problems without filing for bankruptcy, call 215.392.4969 or 610.228.0474. You can also contact our law office online.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.