Maybe you’re not ready for bankruptcy—or even a good case for it, but you’re still suffering from high debt that makes it impossible to pay the really important bills like rent, electricity, gas, or food. You should still consider talking to a bankruptcy attorney in Chicago about the process and what it entails. You may also gain some insight into how to deal with debt collectors.
Credit Card Bills and Settlement
Talk to your Chicago bankruptcy lawyer about the different types of ‘credit settlement’ available to you. You might want to try and “settle” your credit card bills. When you owe a lot of money in back payments and there is a legitimate reason for it (job loss, divorce, medical emergency), many times the credit card companies will settle your debt for thousands less than what you owe. To them, some money is better than no money and will usually come around during negotiations if you have a large lump sum to offer.
Beware of Scams
There are a lot of shady companies out there that will take your money to negotiate for you and you just end up in a stink of legal trouble for your efforts. Your Chicago bankruptcy attorney has helped many consumers lower their debt through settlement or the process of bankruptcy. Credit card companies play hardball when they think there is more money to squeeze out of you. Your Chicago bankruptcy attorney is there to help you get in the game. They know the tricks of their trade and can get you a settlement that you both can live with.
Your bankruptcy attorney in Chicago will be able to help you decide which type of bankruptcy is going to be most beneficial for you. The different chapters of bankruptcy in the United States Bankruptcy Code are there for different reasons and for different circumstances. Remember that bankruptcy is not a way out, but a way forward and a legal resource for every American who has run into financial difficulty.