Bankruptcy Attorney in Highland Park
Bankruptcy isn’t the same for every filer. Many debts are dischargeable, but some are only dischargeable under certain circumstances. Some debtors have additional concerns, such as dealing with court-ordered judgments. At Cutler & Associates, Ltd., our bankruptcy attorneys are on a mission to provide clients in Highland Park, IL with the reliable and personalized bankruptcy advice they need. We’ll carefully sort through your debts and other financial matters to make sure that Chapter 7 or Chapter 13 bankruptcy can benefit your family.
Protecting Yourself from Judgments
As soon as our bankruptcy attorneys file your petition, you’re protected from legal actions taken by creditors and debt collection agencies. These actions could include civil lawsuits and court-ordered judgments. Judgments can be particularly problematic for people who do not meet the legal definition of “judgment-proof.” Consider filing for bankruptcy protection if you’re susceptible to judgments because:
- You have a job.
- Your job pays well.
- Your income isn’t exempt from judgment creditors.
- You have equity in real estate.
The automatic stay that goes into effect when you file for bankruptcy will give you the time you need to sort through your financial issues, without worrying about court-ordered judgments.
Dealing With Past Due Child Support
You may have heard that past due child support isn’t dischargeable with bankruptcy. This is true, but it isn’t the full story. Talk to one of our bankruptcy attorneys about whether Chapter 7 or Chapter 13 could help. If you have substantial debts other than child support, then filing Chapter 7 could eliminate those dischargeable debts. This would give you the wiggle room in your budget that you need to pay off your past due child support. And if you file for Chapter 13, you can add your past due child support to your repayment plan.
Dealing with Past Due Taxes
Past due income taxes are a serious problem. They can result in the offset of your tax refunds, wage garnishment, real estate liens, and even reductions in Social Security benefits. Bankruptcy won’t usually affect past due taxes, but your bankruptcy attorney may recommend that you file for Chapter 13 to add your tax debts to your repayment plan. This will keep the IRS from sending those threatening notices, and you’ll be able to get back on track again.