If you don’t have any assets of which to speak, you might be interested in learning more about Chapter 7 filings. These bankruptcy filings allow you to erase your debt and begin with a clean slate. This type of bankruptcy filing is ideal for anyone who lives in an apartment and has a great amount of medical expenses or credit card debt.
Resolving a Bad-Debt Situation
You will need to contact bankruptcy attorneys in Rockford, IL to learn more about this way to resolve a bad-debt situation. You won’t be able to file for this type of filing if you wish to keep your car or home. In this instance, it would be better to see about filing for Chapter 13, especially if you have a job and are working steadily.
Do You Wish to Liquidate or Erase Your Debt?
While bankruptcy attorneys handle liquidation with a Chapter 7 filing, they help re-manage the debt of Chapter 13 filers. Therefore, the bankruptcy you choose to file is based on your current lifestyle and what you own. Only a bankruptcy lawyer can help you make sense of the various filings available for businesses and individuals.
What Do You Know About Bankruptcy?
When you schedule an appointment with one of the bankruptcy attorneys in your community, tell the attorney about your current debt situation and why you feel that bankruptcy may be a solution. He or she will want to know what you own in assets and how much you owe in debt. He or she will also need to know where you earn income and how you are spending it.
How to Get the Help You Need Now
Make sure you are well-prepared to answer any questions about your current finances. Begin today by contacting bankruptcy experts, such as Hampilos & Associates, Ltd. Make sure you have a legal advocate on your side to stop harassment calls from creditors and find a means to meeting future expenses with more ease.