Debt is something most people are able to handle and eventually pay off. For those people who have gotten into too much debt, lost a job or had an unexpected illness, it can be more than they can handle. For these people, bankruptcy laws were put into place. Through bankruptcy, you can finally have the ability to pay off your debt, in a time period that will allow you to make monthly payments you can afford. Though bankruptcy is not for everyone, it has been able to help millions of people to get back on their feet financially. If you are in need of help with your debts, filing chapter 13 in Chicago may be your answer.
What Can You Expect From Filing for Chapter 13 in Chicago?
Filing for bankruptcy does not have to be a stressful situation, if you reach out for help from an attorney. When an attorney is over your case, you will basically only be responsible for providing information. You will need to bring in information on the assets you own, your income and all of the debts you owe. The more information you can provide on your debts, the better able to the attorney will be able to assist you.
In filing for chapter 13, you are required to list all of the debts you owe on your bankruptcy. You may omit a debt, if you prefer to have it exempt from bankruptcy, but you need to understand if it is not listed, you can still be pursued for the amount you are owed. Each of your creditors will be contacted by the court, informing them of your intentions of filing for bankruptcy. They are allowed to respond through the court and object, if they desire.
Your bankruptcy will be decided on by a judge, through a court hearing. Your lawyer will represent you through the process, making sure you understand each step. If you are in need of help with filing for bankruptcy, contact Lake Law today. They will be glad to help you with your bankruptcy, so you can secure a better financial future. Browse the website for more information.
