Which Type of Bankruptcy is Best for You?

If you are considering bankruptcy but aren't sure which type will work best for your situation, consider this:

Regular consumers must choose between Chapter 13 and Chapter 7 bankruptcy. The former allows you to create a repayment plan for creditors while the latter dismisses all debts. However, it is not as simple as that which is why a Chicago bankruptcy attorney may be your most valuable asset during this time.

He or she will help you choose which bankruptcy option will be the most successful for your personal situation, as well as what bills you can stop worrying about, what items you can keep, how long you have to make payments and a variety of other items that must be addressed.

Depending on your financial situation and how many assets you have to pay back your debts, it may be possible to file for Chapter 7 or Chapter 13 bankruptcy. Since the laws surrounding and guiding bankruptcy procedures are convoluted and constantly changing, don't attempt to make these decisions by yourself.  Instead, contact our law office to set up a bankruptcy consultation.