What Can A Bankruptcy Attorney Do For You?

by | Aug 25, 2014 | Lawyers & Law Firms

Perhaps the most important financial decision an individual or a business will ever make is declaring bankruptcy, not only is it the most important it is by far the most painful and difficult. A bankruptcy attorney in Naperville is someone you can turn to who can advise you as well as implement the complicated process of bankruptcy.

Many bankruptcy attorneys will give you an initial consultation at no charge at which time you can briefly lay out your situation. After this the attorneys expect to be compensated for the services they will provide. To the surprise of many, filing for bankruptcy costs money; it is not free. Those who do file are expected to pay court costs, administrative fees and of course, the fee of the attorney. Depending on the complexity of the process one can expect to pay attorneys fees in the neighborhood of $1,000 to $2,000.

There are attorneys who advertise quite heavily, they will have you believe that the process of declaring bankruptcy is simple when in reality, it is not. You should make it your business to engage the services of a reliable attorney, you may find him or her through recommendation from a friend or perhaps another attorney. A reliable and reputable bankruptcy attorney in Naperville will be happy to provide you with evidence of the skills and qualifications should you ask.

Year in and year out about 1.6 million people file for bankruptcy in the US, divorced women are more likely to declare bankruptcy. Most individuals elect to file either Chapter 7 or Chapter 13. In most cases people file Chapter 7, this is quite straightforward and allows the individual to get a fresh start by discharging all but a few debts. In the case of Chapter 13, those who have significant assets that they wish to protect can develop a repayment plan which is acceptable to the court, this will allow the bankrupt to pay off the debts over a period of time and keep the assets.

A bankruptcy attorney in Naperville can advise you which is best based on your unique circumstances. The attorney will complete any forms that are required as well as explaining to you what to expect as the process continues.

Consulting a bankruptcy attorney does not mean you will end up declaring bankruptcy. There are many times when a seasoned attorney can see alternatives such as debt consolidation plan which will normally drop your monthly outlay on debt service.

If you are contemplating filing for bankruptcy you should first discuss your situation with a bankruptcy attorney in Naperville. You are invited to contact Chicago Debt Solutions by the Law Offices of Trepeck Law Group, LLC.

Similar Posts