Have An Lawyer’s Advice

If you’re struggling with mounting debts that you don’t think you can ever pay, it’s important to obtain as quickly as you can the advice and assistance of an experienced Chicago bankruptcy lawyer. If, after a legal consultation, you and your bankruptcy lawyer determine that bankruptcy is your only practical option, your lawyer will assist you with the legal documents and guide you step-by-step through the process. If you don’t have an lawyer’s advice when you file for bankruptcy, the mistakes you make could postpone your bankruptcy or even cost you the bankruptcy protection you need.

Without an lawyer’s advice, many people in deep debt wait too long to begin the bankruptcy procedure. In most cases, the earlier you begin the process, the less it will cost you in both money and time. Also, without an lawyer’s advice, you may not understand key differences between a Chapter 7 bankruptcy and a Chapter 13 bankruptcy. Each type of bankruptcy has advantages and downsides, so you’ll need an lawyer’s sound advice. In a Chapter 7 bankruptcy, the court liquidates most of your assets to pay off as much of your debt as possible. Any debt still not paid is discharged or erased. In a Chapter 13 bankruptcy, you develop a plan to pay your priority and secured debts and as much unsecured debt as possible over a specified period of time.

If you’re already thinking that bankruptcy laws in Illinois are complicated, you’re right. While bankruptcy certainly isn’t for everyone who’s in debt, it can be the appropriate solution in a number of circumstances. Working alongside an experienced Chicago bankruptcy lawyer is the best way to obtain the debt relief and the fresh financial start you need. If you’re considering bankruptcy in the Chicago area or if you simply need to learn more, arrange at once to speak with an experienced Chicago bankruptcy lawyer.