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Joliet Chapter 13 Bankruptcy Attorney

With the economic troubles that have plagued the U.S. over the past few years, bankruptcy filings have become increasingly common. Bankruptcy does not make you a financial failure. In fact, filing for bankruptcy can be one of the smartest financial decisions that you make. There are several different kinds of bankruptcy that you can file for, so knowing which kind is right for you is very important. Chapter 13 bankruptcy is a common choice for individuals looking to file, and many people choose it because it allows them to set up a reasonable repayment plan with their creditors. Thousands of people face high credit card bills, student loans, and other financial obligations that make bankruptcy an attractive and intelligent option.

If you or someone you know is facing financial difficulty and is thinking of filing for bankruptcy, Chapter 13 bankruptcy may be a great option. Chapter 13 makes it much easier to manage your debts, prevents wage garnishment, and can also prevent the IRS from denying your tax refund. The bankruptcy process can confuse many people, but the experienced Joliet Chapter 13 bankruptcy attorneys of the Law Offices of Stuart B. Handelman are here to make this process easier for you. We are dedicated to helping you quickly and easily file for bankruptcy and get back on your feet financially. Contact us today by calling our experienced attorneys at 815-722-2201.

Our Attorneys and You

We can help you decide exactly which type of bankruptcy is best for your specific situation. If you decide to file for Chapter 13 bankruptcy, our experienced attorneys can help you better understand:

Taking charge of your debts and credit through bankruptcy could secure your future financial success and can help improve your chances of obtaining credit cards and loans for future expenses.

Debt Consolidation

Debt consolidation simply means that several or many debts are reduced into one debt that you are responsible for repaying. There are several options for repayment, including a monthly withdrawal from your paycheck or by issuing a check to a trustee every month who is responsible for dividing your payment among your creditors. If pursuing debt consolidation, our attorneys can help you decide which option is best for you and your family.

In Chapter 13 bankruptcy, your debt can be consolidated into an amount that you are actually able to make monthly payments on. Debt consolidation negotiations take many factors into account, including your current income, possible future income, assets, cost of living, children, and types of debt. Because negotiations can be so extensive, it is important to enlist the aid of an experienced Chapter 13 bankruptcy attorney.

How to File

Filing for bankruptcy is actually not very difficult, contrary to what many people believe. Once you have initially filed your case with your state court, you will accompany your attorney to an office of trustees who will then take charge of your debts. This normally occurs over a month after your initial filing, and tends to be a casual and informal meeting. Once you have met your trustee and he or she agrees that your case is manageable and filed correctly, the trustee will ensure that your case is confirmed in the presence of a judge.

You actually do not even have to be present in court for this process to take place, and you can continue living your daily life without having to worry about appearing in court. Finally, you will just be held responsible for paying your trustee every month, who will distribute your payments among your creditors.

How Long Does This Take?

Generally, people who file for Chapter 13 bankruptcy are involved in the repayment process anywhere from 3-5 years. Of course, based on individual situations, this number can differ, but 3-5 years is standard.

Contact Us

Filing for bankruptcy is not the end of the world or even the end of your credit. If you or someone you know is facing financial difficulty and is considering filing for bankruptcy, contact the Joliet Chapter 13 bankruptcy attorneys at the Law Offices of Stuart B. Handelman today at 815-722-2201.