If you’re facing a barrage of angry creditors on a daily basis then
you need to stop stalling and consult a bankruptcy lawyer about protecting
your rights and your financial future. If you have recently suffered a
setback financially, you might be falling into arrears with your creditors
and they may decide to take drastic steps to recover their money. Financial
help is hard to find these days in an economy that is showing only the
slightest signs of steady recovery. Many creditors are out to get whatever
they can, and if you have been ignoring the problem then you might have
to consider taking the step of declaring bankruptcy to avoid losing everything
that you have.
If a creditor has filed a lawsuit against you then filing for bankruptcy
will be a way of protecting your major assets from future loss. Filing
through a good Chicago bankruptcy lawyer will stop a lawsuit, prevent
a judgment against your name and protect your most precious assets from
being taken from you at a later date. Beware though; filing for bankruptcy
is not a quick-fix solution for all your financial woes. Although a bankruptcy
will prevent any creditor from enforcing a judgment that was granted say
during a period of unemployment, you need to look carefully at what sort
of job you take in the future as the earnings will have to cover the backlog
of repayments and you will have to wait for a number of years to have
your bankruptcy status lifted.
Filing for bankruptcy is not always a last resort. If you are in danger
of losing an asset such as your home or your vehicles due to a judgment
being granted against you then the only way to stop that will be to file
for bankruptcy through a bankruptcy lawyer. While it might seem to be
a drastic step, you must do whatever it takes to protect your home from
being taken away by the bank or mortgage loan institution. While banks
are tightening their belts to ride out the recession so must you and you
must do everything in your power to make sure that you get the legal advice
and help from a bankruptcy lawyer in Chicago that is your right as an
American citizen.