Breaking Down Chicago Bankruptcy: Is Filing Your Best Option?

Individuals who are struggling to pay off debt have difficult decisions to make on a daily basis. If you do not earn enough income to pay off your debt and continue to pay your rent or mortgage on top of other bills and expenses, chances are you have to learn to go without luxuries, and maybe even necessities. Filing for a Chapter 7 or Chapter 13 bankruptcy may allow you to regain control of your finances and your life. However, it is not a decision that should be made lightly, and there are many aspects to consider. Lets run through some pros and cons of filing a personal bankruptcy:

                Pros:

  • Will provide virtually instant debt relief
  • Will end intrusive phone calls and creditor harassment
  • Provide you with time and the ability to reorganize and pay back the debt you are able to

 

Cons:

  • You take a hit on your credit-the bankruptcy will remain on your credit history for 10 years
  • You will have difficulty getting a loan until you are able to re-establish your credit
  • Many employers run a credit check on prospective employees they interview

 

Individuals should take all these points into consideration when deciding whether or not to file, bu the first step is to contact an experienced bankruptcy attorney to discuss your options, every case is different. Please contact our office for a free consultation.

Benjamin Brand Services-Chicago bankruptcy lawyer.

Start Your Questionnaire

How may we help you?

Schedule an appointment today.

Why Choose Us?

  • You can meet with an experienced law Partner in the Firm not some associate.
  • We concentrate in foreclosure defense and bankruptcy so we have more options to offer you then other attorneys
  • We also represent individuals in Chapter 11's that offer better loan workout and restructuring options then Chapter 13 and most bankruptcy lawyers do not know how to do it.
  • We offer a free no obligation consultation where we will discuss your option or options, tell you the pros and cons of each one, the fees and costs and help you make an informed decision. There can be more then one solution!
  • We offer affordable payment plans and fixed fees in most cases.