Bankruptcy Attorney in Lake in the Hills
If you feel like you’re over your head financially, you’re not alone. According to a 2016 survey, millions of people in the U.S. are one paycheck or one surprise expense away from a financial collapse, with 63% of people lacking any kind of emergency savings. An unexpected car repair, trip to the emergency room, or home repair can easily leave people unable to pay their bills. At Cutler & Associates, Ltd., we understand these pressures, which is why our bankruptcy attorneys in Lake in the Hills are ready to help families get the debt relief they need to get their financial future back on track.
Bankruptcy Can Happen to Anyone
Statistics gathered over the last 30 years indicate that one in 10 people in the U.S. has filed for Chapter 7 or Chapter 13 bankruptcy. Most people who file aren’t struggling financially because of extravagant lifestyles. Instead, they’re struggling to keep their heads above water for a number of extremely common life events, such as:
- Medical bills
- Job loss
- Loss of family breadwinner
Bankruptcy laws give people the chance to draw a line under the debts that they can’t pay and get a fresh start for the future.
Your Bankruptcy Attorney Can Help You Find the Right Solution
There are two forms of bankruptcy. Chapter 7 bankruptcy wipes out most debts. To file for this form of bankruptcy, you will need to pass a means test, which demonstrates to the court that you are unable to pay the debts you have based on your income and necessary expenses. Chapter 13 bankruptcy doesn’t completely get rid of your debts. Instead, it reduces the amounts you must pay to resolve them and extends your repayment payment. This option will require you to make payments on a schedule set by the court. Your bankruptcy attorney in Lake in the Hills will review your finances with you to decide which kind of case you should file.
Bankruptcy Is a New Beginning
Bankruptcy is a starting point for overcoming your debt and rebuilding your credit score. It is a myth that your score will never recover or that you’ll be forced to give up your home and your car. Your bankruptcy attorney will review the impacts of your filing on your finances and discuss which assets are important for you to keep. Let the compassionate, experienced bankruptcy attorneys at Cutler & Associates, Ltd. help you get the debt relief you need.