Reinherz Bankruptcy Lawyer Philadelphia South Jersey

The last thing you need when you’re drowning in debt is a bunch of confusing terminology that make your issues even more complicated. But understanding who you can turn to and trust is important – that’s why you need to know what a “federally designated debt relief agency” is, and what they are not.  According to the Bankruptcy Act of 2005, “Debt Relief Agency” refers to absolutely anybody that provides you with assistance in filing a bankruptcy case or who gives bankruptcy advice. The person or entity does not need to have any kind of special certifications or education, and they don’t pass any kind of tests or pay a fee for the right to use that terminology. Their only qualification is that they actually dispense advice, whether it is right or wrong. If that is the case, then how can a federally designated debt relief agency help you get out of debt? The truth is that there’s a chance that they may not be able to. But a Philadelphia bankruptcy lawyer can.  Let’s look at the differences, and why a call to Reinherz Law may be the smartest decision you can make.

Though an individual or business that advertises itself as a debt relief agency may indeed be able to assist you and provide you with valid information, the fact that an organization uses that terminology by no means that they are knowledgeable about anything beyond the need to refer to themselves using that terminology.  Organizations that can call themselves debt relief agencies include credit counselors, debt management programs, non-bankruptcy attorneys who mention bankruptcy, ministers, accountants, and financial counselors. The title was made up by congress, and provides no proof of expertise. The term does, of course, also include bankruptcy attorneys. Most importantly, if an organization calls itself a debt relief agency and is not an attorney, then they are not permitted to provide you with legal advice. Only a lawyer can.

When you are struggling to pay your bills and living paycheck to paycheck, you do not have the time to fool around with an unqualified advisor or somebody who is not going to be able to provide you with the answers you truly need – you need to work with a licensed bankruptcy attorney who is able to practice law in the jurisdiction where you want to file and who handles bankruptcy cases on a regular basis. An experienced bankruptcy attorney can give you a broad overview of all of the options that are available to help you deal with your debt. This can include loan and mortgage modifications and other alternatives to bankruptcy, or determining which type of bankruptcy is most appropriate for your particular situation.

Working with a knowledgeable bankruptcy attorney represents the best and most comprehensive way for you to handle your situation and move ahead confidently. Call the attorneys at Reinherz Law today to learn more and set up an appointment.