Illinois has been one of the hardest hit states during the recession. It has had record levels of unemployment. If you are one of the people who has been unable to cope under the yoke of mounting debt, then you need to consider consulting with an experienced Chapter 7 bankruptcy attorney to help release you from your bonds.
Choose Local Bankruptcy Attorneys
There are a number of reasons to use a local reputable attorney and the first is that you will be getting the unmitigated benefit of specialized local legal expertise. There is no substitute for having a lawyer who understand the local regulations, knows the trustees at the bankruptcy court in Chicago and is able to advise you on the best way to face your creditors.
As soon as you file your petition for a Chapter 7 bankruptcy, you will be able have the emotional and legal relief from your creditors. They are not allowed to contact you in terms of the laws surrounding bankruptcy in the state of Illinois. Having a lawyer on your side, will ensure that they do not.
A Bankruptcy Attorney Will Stop Your Creditors
Filing for bankruptcy using an attorney will also mean that any legal action against you must be halted. If you have had your creditors threatening you with lawsuits then they will be unable to proceed if you file for bankruptcy. This can be vitally important in terms of a foreclosure. If you have missed payments on your mortgage and your bank is threatening action against you, then you need to contact an experienced Chapter 13 bankruptcy attorney to fight for your home and your family.
Bankruptcy should not be viewed as a last resort but rather as a positive step to be taken as soon as you know that you are in financial trouble. Facing up to your situation does not mean that you have to make agreements with you creditors. It means that you have the might of the law on your side and can use the option of a Chapter 7 bankruptcy to wipe out all of your dischargeable debt without damaging your future.
A bankruptcy does remain on your record for ten years, but a judgment can last longer, so the choice to file for bankruptcy means that you are in fact saving your good name. Bankruptcy is a conscious decision and is viewed as such by many financial institutions. Ignoring debt and legal action is seen as avoidance. As soon as your bankruptcy has been discharged you can start to rebuild your financial future on a firm foundation.
The most important part about a Chapter 7 bankruptcy is to think of it as a tool to financial freedom, not as a punishment for being unable to pay your debts. Far too many people put off the decision to file for bankruptcy until they are drowning in a sea of legal action brought against them by their creditors.
Make no mistake, creditors will do everything they can to get their money from you. You may be facing a foreclosure or the repossession of your vehicle if you do not take action and face your financial troubles.
A Chapter 7 bankruptcy is one of the keys to your financial freedom and your local bankruptcy attorney will provide you with the power to find the door and unlock your future. This type of bankruptcy ensures that you get the most amount of relief from your dischargeable debt as possible under the law. Not only will you have a relief from having to pay your debts, but the people and institutions that you owe money to, your creditors, will not be allowed to contact you or to institute any legal action against you for your debt.