Bankruptcy Attorney in Evanston
Nobody ever sets out to get into debt. Life has a way of taking you by surprise, however, and even the most responsible people can easily find themselves in situations where they can no longer afford to make payments on their mortgage, car, or other bills every month. Cutler & Associates, Ltd. can help you find immediate relief from the harassing calls, threats of foreclosure, and fears of wage garnishment that you might be experiencing because of your debt. If you need a bankruptcy attorney near Evanston, Illinois, contact us today.
How Long Does Bankruptcy Remain on Your Record?
If you file for chapter 7, your bankruptcy will stay on your credit report for the next 10 years. If you file for chapter 13, your bankruptcy will be removed from your credit report after seven years.
What Is an Automatic Stay?
An automatic stay is a legal order that is issued as soon as you have filed for bankruptcy. It prohibits your creditors from contacting you in any way. Lawsuits cannot be commenced against you, liens cannot be placed on your property, and your home cannot be seized through forfeiture. In many cases, automatic stays will also prevent your utility company from turning off your power.
What Happens When You Declare Bankruptcy?
While hundreds of thousands of people declare bankruptcy every year, not everybody understands what it means to file. When you file for bankruptcy, some of your debts may simply be discharged—that is, treated as if they never existed. Those debts that cannot be discharged, such as student loans or tax liens, will be paid off using a payment plan. Under chapter 7, this involves selling your non-essential property and personal possessions; under chapter 13, it means paying off your remaining debts out of your monthly income.
What Can a Bankruptcy Attorney Do for Your Case?
While you can file for bankruptcy on your own, there remains the possibility that you could file incorrectly or make an error that could hold up your case. An attorney can file on your behalf and ensure that your legal rights and interests are represented in court. Your attorney can also help you determine whether bankruptcy really is the right move for you, and what chapter of bankruptcy you should file. When you’re dealing with a subject as complex as bankruptcy, there is no substitute for expertise.