Get Debt Relief From an Experienced Bankruptcy Attorney!
While some people may automatically assume Chapter 7 is the best bankruptcy option, many individuals are better served through a Chapter 13. This form of bankruptcy allows a person to keep his assets while making partial payments on other debts over a period of time (typically three to five years) to a bankruptcy trustee. This trustee then uses that money to pay back creditors only to the extent a person can afford. When the bankruptcy period is complete, the balance of any unsecured debt is discharged and the creditors can no longer collect on the remaining debt. A Chapter 13 bankruptcy typically looks better on your credit than a Chapter 7. A Marion Illinois Debt Management Attorney can discuss your particular situation and determine which bankruptcy option is best for you.
Many people who choose to file Chapter 13 bankruptcy are homeowners facing foreclosure. If you are behind on your mortgage payments, Chapter 13 is often the best option for savings your home. The benefits of a Chapter 13 filing include:
Saving a home from foreclosure is often the best reason for a homeowner to file Chapter 13 instead of Chapter 7. So long as you have sufficient income to pay the past due mortgage payments while staying current during the bankruptcy proceedings, you can save your home and keep it once the bankruptcy is complete. A Marion Illinois Debt Management Attorney can discuss your options and advise whether this might be your best option
If you are a homeowner or someone with other assets you don't want liquidated, there is still relief for your debt. A Marion Illinois Debt Management Attorney can discuss your options and find a solution that will allow you to live stress free while making you debt free. To learn how bankruptcy can give you a fresh start, contact Bankruptcy Clinic, P.C. today
Home in foreclosure? Contact a Marion Illinois Debt Management Attorney
Call The Bankruptcy Clinic today at (618) 993-1300
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