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Dealing with your personal finances can be stressful—especially if the outcome isn’t looking so good.  In addition, one must take every purchase made into account, a task easier said than done.  If the direction of your personal finances is pointing towards debt, then bankruptcy may be an option to consider.

Before you contact a bankruptcy lawyer, you should determine if bankruptcy is the right decision for you.  Whether you are considering Chapter 7 or Chapter 13 bankruptcy, making the choice is difficult but may be necessary.  Here are a few ways to determine if settling your debt is the best option for you:

  • Assess Your Situation

In order to properly determine if bankruptcy is right for you, be sure to correctly assess your entire financial situation.  Take your secured and unsecured debts into account, in addition to your expenses and income.

  • Determine Your Debt

After you have assessed your financial situation, it is time to determine how much debt you really have.  If you are being harassed by collection agencies, then it may be time to seriously consider bankruptcy.

If it turns out that bankruptcy is right for you, keep in mind that Chapter 7 and Chapter 13 bankruptcy are your two options.  But, before you do anything, you will want to do it right the first time with a bankruptcy lawyer.

  • Find a Lawyer

Although a lawyer may be low on your agenda during the bankruptcy process, the reality is that a lawyer will be able to help—no matter what your circumstances may be.  Also, it is important to receive all the help you can get while going through the bankruptcy process.

If you have determined that bankruptcy is the best way to settle your debt and could use a bankruptcy attorney to help with your situation, then please contact Cutler & Associates, LTD.  If you are in need of a bankruptcy lawyer in the Chicago area, we can defend your rights—whether you file for a Chapter 7 or Chapter 13 bankruptcy.