In the greater Chicago area, if your debts are mounting, the one sure way to put an end to the harassing letters and phone calls is to file for bankruptcy. The precise advantages of a bankruptcy filing will depend on whether you file a “Chapter 7” bankruptcy or a “Chapter 13” bankruptcy, but every personal bankruptcy offers what the law calls an “automatic stay” to stop harassment from creditors. If you’re in debt and you need protection from creditors in the Chicago area, arrange at once to consult with an experienced Chicago bankruptcy lawyer.
As soon as your bankruptcy is filed, an automatic stay is issued, and all of your creditors are informed that you are now legally bankrupt and that an automatic stay is in place. At that moment, the harassing letters and phone calls from creditors must stop. If they don’t, the creditors are violating the law. An automatic stay also ends wage garnishments, foreclosure proceedings, repossessions, and lawsuits brought against you by creditors. An automatic stay, however, does not eliminate your obligations to pay taxes, child support, alimony, and fines or fees that you owe to a civil or criminal court.
You’re also protected by the generous exemptions offered to bankruptcy filers in Illinois. A good bankruptcy attorney can help you determine how best to protect yourself by using wisely the real estate, property, and income exemptions provided under Illinois law. Bankruptcy is nothing to fear. Especially in Illinois, bankruptcy filers are well-protected, and if you combine that protection with the advice and services of a trustworthy and experienced Chicago bankruptcy lawyer, you’ll emerge from the bankruptcy process with a fresh financial start and the ability to rebuild your credit and move positively into the future. If you need the protection that bankruptcy provides, don’t wait another day. Make the call now to discuss your financial circumstances with an experienced Chicago bankruptcy lawyer.