Many people hope to avoid the stigma of bankruptcy by attempting to work with a debt consolidation company or a company that purports to “negotiate” the settlement of your debts with creditors. Unfortunately, most of the time, this is a waste of time and valuable resources. Most people who attempt to fix their problems through these organizations are sorely disappointed, and inevitably, file bankruptcy. Regretfully, people utilize these organizations with the intention of saving their credit, and ultimately, their credit suffers far worse.
In bankruptcy we have the law on our side to protect you. We call this the automatic “stay”. The stay prevents all attempts at lawsuits, foreclosure, repossession, collection efforts and harassing phone calls, Debt consolidation and settlement companies do not have the legal ability to stop any of these occurrences. They often purport to be affiliated with a law firm, but invariably, that firm is not even licensed to practice in the State of Illinois. They can do very little for you when you are being sued in the State of Illinois by any number of creditors that choose to not agree to whatever settlement terms they may be attempting to achieve on your behalf.
With bankruptcy and the automatic stay, you have the certainty of knowing you are protected and knowing exactly what will occur and when. This is a superior tangible benefit to you the borrower and consumer. Debt consolidation companies and settlement advisers promise to “negotiate” with creditors. However, you can do everything they can do yourself and at much less expense. No one truly has a special talent for negotiating with creditors. You should know your rights in the law and have a credible partner advocating for you.
The attorneys at the Bankruptcy Clinic, PC advocate for ordinary people in bankruptcy court. There is no magic to what we do, but people in Southern Illinois have had a steady ally in our firm for some time now. Don’t go it alone. You should not be scared away by any supposed stigma of seeking bankruptcy protection. There are so many ways that good people like you can get into debt problems. We do not care so much on how you got to where you are, but rather, we focus on doing our best to get you out.
If you need help with your debt problems and are contemplating debt consolidation or debt settlement, call us today for a free consultation. We would be pleased to help you in any way we can. We have offices to serve you in Marion, Mt. Vernon, and Carbondale, Illinois.