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Bankruptcy Attorney in Lincolnshire

Declaring bankruptcy is a major life decision, and it’s not one that should be made without first talking with a qualified attorney. Cutler & Associates, Ltd, has more than two decades of experience helping people in the Chicago metro area who are considering filing for Chapter 7 or Chapter 13 bankruptcy. If you’re in need of a capable attorney in Lincolnshire, Illinois, to guide you through the bankruptcy process from start to finish, it’s time to call our law office.

My Wages Have Been Garnished. Will Bankruptcy Help?

Yes! If you’ve received notice of a wage garnishment, contact Cutler & Associates, Ltd. right away. Our bankruptcy attorneys can put a stop to this aggressive collections tactic. As soon as we file for bankruptcy on your behalf, an automatic stay goes into effect. This stops the following adverse actions:

    • Chapter 7 bankruptcy. When you choose this option, your unsecured debts will be discharged, and your nonexempt assets will be used to pay off your secured debts. If you don’t have a lot of assets and are in a lower income bracket, this is probably the chapter you will be advised to file.
    • Chapter 13 bankruptcy. When you file under Chapter 13, you will be permitted to keep your property, but your debts will be paid off through a special payment plan drawn up by a trustee. If you’re concerned about the possibility of foreclosure on your home, this chapter will prevent it from happening.

When you declare bankruptcy, your assets will be divided into two categories: exempt and nonexempt. Exempt assets include any equity in your primary residence, and nonexempt assets include second homes and recreational vehicles. Your debts are also defined as secured and unsecured. Secured debts are those which are backed up by your property, while unsecured debts—such as unpaid credit card balances—are not. When you speak with an attorney, you will be advised what the best bankruptcy chapter will be for your purposes, based on your current financial status.  

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