Making the decision to enter bankruptcy is a big step and one that can be very scary for you. You need the guidance and expertise of an experienced law firm to help you determine which type of bankruptcy will work best in your specific situation. A bankruptcy attorney will know how to work with special circumstances in your case. For your peace of mind as well as a good outcome, it’s best to work with a Bankruptcy Lawyer in Marion, IL.
A bankruptcy lawyer is trained to help you determine which type of bankruptcy will best meet your needs. For example, Chapter 7 bankruptcy is the best option if you want to wipe out most of your debt. It’s the type of bankruptcy most people think of when they consider the subject. Chapter 7 bankruptcy doesn’t eliminate all of your debt but it does wipe out unsecured debt, such as medical bills, payday loans and credit card debt as well as similar types of debt. Chapter 7 bankruptcy doesn’t absolve you of paying back student loans, mortgage debt or child support, however. A good attorney can help you determine whether Chapter 7 Bankruptcy in Carbondale, IL is the best option for getting back on your feet financially.
Chapter 13 bankruptcy doesn’t eliminate your debts as Chapter 7 bankruptcy does, but instead gives you several years to pay off the debt. A bankruptcy lawyer will work with your creditors to develop a repayment plan that extends for three to five years. You won’t have to give up important possessions such as your car while you’re in Chapter 13 bankruptcy. Any foreclosure or repossession actions will also be automatically stopped when you enter into Chapter 13 bankruptcy. Many people who don’t meet the requirements necessary to file for Chapter 7 bankruptcy can instead enter Chapter 13 bankruptcy.
It’s in you best interest to work with a Bankruptcy Lawyer in Marion, IL who is experienced and reputable. Bankruptcy Advocates in Carbondale offer a free initial consultation to determine which type of bankruptcy is the best solution for you. Your attorney will act as your representative with your creditors, eliminating the constant debt collection calls that add to the stress in your life. Bankruptcy, once thought to be a stigma, is now an acceptable way to handle serious financial problems. A bankruptcy lawyer can work with you to help you start your new financial life.
