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SCORE! Knowing your FICO Score
Understanding your FICO Score It is important to review your FICO Score and you will have to identify all the discrepancies and taken the steps necessary to correct said errors, it’s time to assess your financial situation. The simplest way to do this is to look at your credit score. There are several ways to…
Tax Refund – Be Careful Before You Spend!
Tax Refund Checks Over the past few weeks we have been discussing your credit reports and getting a better understanding about who and how much you owe, now, we are looking forward to the tax refund check! In the next few months, many will be expecting/hoping for a refund check from Uncle Sam. It’s tempting…
Chicago Bankruptcy Attorneys
Locations: Chicago Loop | Chicago South Side | Joliet | Berwyn | South Holland | Schaumburg | Naperville
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 them 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 comes 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 eight Chicago-area locations. Anyone considering bankruptcy can speak with an experienced bankruptcy attorney and get free advice on how to pursue his or her 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 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 312-273-1217.
Call 312-273-1217 to set up a free consultation at any of our eight 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!
About Personal Bankruptcy
You’ve probably heard that bankruptcy has different “chapters.” Personal bankruptcy is dealt with under two chapters of bankruptcy law: Chapter 7 bankruptcy and Chapter 13 bankruptcy. Chapter 7bankruptcy 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 bankruptcy 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 bankruptcy 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 312-273-1217 to set up a free, no-obligation consultation.
By Kerrie Neal