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Bankruptcy Attorney in Lake Bluff

Facing bankruptcy may feel isolating, but you’re really not alone. Not only do thousands of Americans file for bankruptcy each year, but at Cutler & Associates, Ltd, we’re here to walk you through the process. Our bankruptcy attorneys in Lake Bluff are experienced and compassionate. They can explain your options for debt relief through bankruptcy and answer your questions about how filing works and what it means to you and your family. Taking the first step and having a conversation with one of our bankruptcy attorneys could mark the new start you’ve been waiting for.

Who is a Good Candidate for Bankruptcy?

Bankruptcy is designed to allow people who are facing debt that they can’t repay end collection actions and start over with a clean slate. Qualifying for bankruptcy typically requires demonstrating that paying your debts is impossible because your income is not sufficient to cover those costs and your reasonable living expenses. A case review with a bankruptcy attorney in Lake Bluff is the perfect opportunity to see if bankruptcy is a good solution for your situation.

What Happens After I File?

When your bankruptcy attorney files your case with the court, an automatic stay will go into effect. This stay stops collection activities against you. Once the stay is in effect, you won’t get any more calls from debt collections or threatening letters. Your creditors will also be unable to foreclose or repossess property, evict you, or turn off any utilities. During the stay, your attorney will work with someone appointed by the court to determine the terms of your bankruptcy agreement. This includes determining which debts can be included in the bankruptcy and if any will remain in collection.

Will I Still Have to Pay My Debts?

This depends on the type of bankruptcy you file for. If you meet the requirements to file for Chapter 7 bankruptcy, then most or all of your debts will be completely discharged, which means that you will not need to make any more payments on them. If you file for Chapter 13 bankruptcy, you will still make payments on your debts, but your payments and the overall amount you owe will be reduced, and you will be given a longer time to pay. The right kind of bankruptcy for you depends on your current income and your living expenses.

Call Us Today to Get Started Working Toward Your Financial Freedom!