Millions of Americans are struggling to make ends meet. Unfortunately it’s no different in Chicago. More and more people are facing the factors that can drive us to financial distress: unemployment, illness, death, divorce, rising interest rates, and so on. But despite these difficult times, it is critical to always remember you have legal rights that protect you. Bankruptcy laws are designed to save you from creditor harassment and from total financial ruin.
You may not realize it, but bankruptcy means solutions, not problems. Debts have a way of snowballing. One late payment turns into three or four and with each one come late fees. Once your credit begins to drop, the credit card companies will use that as a reason to raise your interest rates. Suddenly a difficult situation has become nearly impossible.
And when you don’t have any way to realistically catch up and pay off your debts, the end result will be total financial ruin. But bankruptcy is there to prevent that from happening and give Americans everywhere a second chance. The law is on your side. You just need someone to help you use it to your advantage.
As skilled Chicago Bankruptcy Attorneys, we know how important it is to get good advice when you’re faced with big challenges. That’s why we offer free consultations at each of our 8 Chicago-area locations. Anyone considering bankruptcy can speak with an experienced bankruptcy attorney and get free advice on how to pursue your case. We’ll also take time to carefully answer all your questions.
It may be that bankruptcy is not the best fit for you. And if so, we’ll let you know. If it is a good fit, then we’ll create a personalized solution that is custom-tailored to your needs. The end goal is to reduce your debt as much as possible while securing your assets from creditors.
You really have nothing to lose. Call us today at 1-800-BANKRUPT to set up a free consultation at any of our 8 Chicago locations. We offer free parking and night/weekend appointments. If you’re ready to get the fresh start you deserve then call now. You’ll be glad you did!
You’ve probably heard that bankruptcy has different “chapters”. Personal bankruptcy is dealt with under two chapters of bankruptcy law: Chapter 7 and Chapter 13. Chapter 7 is generally considered more consumer-friendly because it eliminates a lot of your debt. In some cases it could eliminate all of your debt. There are certain types of debts that are exempt, however. Chapter 7 requires certain income and asset requirements in order for a person to qualify. In other words, if your income exceeds a certain level, the Court may require you to file under Chapter 13 instead.
Chapter 13 works a little differently. In this case, the Court assumes you can catch up over time if some adjustments are made to your debt payments. As such, you will submit a plan to the Court for a structured repayment plan. Your creditors will have a chance to have their own say, after which a final plan will be approved by the Court and put into action.
You may have concerns about which Chapter is right for you or if there are any steps you can take to improve the outcome of your bankruptcy case. Is there somewhere to turn for answers? The answer is yes! With over 50 years of experience, we have the experience and knowledge to help Chicago-area residents get a fresh start to their finances. Call us today at 1-800-BANKRUPT to set up a free, no-obligation consultation.
By Kerrie Neal