If you are at a point in your life where you have more debt than you know what to do with, it may benefit you to sit down and talk with a Bankruptcy Lawyer in Oak Park IL right away. You would be surprised at how easy it is to file a bankruptcy and get a fresh start on your life. Of course, you are going to want to carefully consider whether or not this is the right option for you before you do anything. The reason behind this is because of the fact that a bankruptcy is something that is going to stay on your credit report for several years. It is important to make sure that all of your debt is included in your bankruptcy. This way, you won’t have anything hanging over your head.
Schottler and Associates is a bankruptcy lawyer who will meet with you and go over your debt with you. They will talk with you about the process of filing a bankruptcy and they will let you know right away what type of bankruptcy they think would be best for you. You can file a chapter 7 bankruptcy which will eliminate the majority of your debt. It’s important to understand that you may end up losing everything that you have if you filed this type of bankruptcy.
If you are in danger of losing your home, you may think about filing a chapter 13 bankruptcy. This is a bankruptcy that will help you to continue to live in your home. You can also file a chapter 13 on an automobile. Basically, this is where your lenders agree to settle for less money than what you owe. You will still have to make monthly payments to the bankruptcy court. If you fall behind on those payments, you will most likely lose your things.
Because there are so many things that need to be considered, it’s best to sit down and talk with a Bankruptcy Lawyer in Oak Park IL. This way, you will know that you have the right answers for your specific situation. Your attorney will guide you through this process.