Bankruptcy & Debt Law

Yes! The most common bankruptcy alternative is “credit counseling.” There are a number of credit counseling services available today. Credit counselors will try to negotiate on your behalf for more favorable terms on your credit card debt. Typically, these negotiations come in the form of reduced interest rates, however full payment of your debt is still required.

Bankruptcy can be a tough pill to swallow, especially if you have historically been a responsible consumer. However, this law was put into place for your protection, and you must understand that sometimes bad things happen to good people. Bankruptcy is not a moral or ethical decision, it is a financial decision and when asking, “can I file bankruptcy?” it must be kept in that perspective.

Facing bankruptcy is something that isn’t easy to do and accept. Aside from causing a lot of stress, it can also drain you physically and mentally. In this kind of situation, it will be quite comforting to have someone who can help and share your concerns with. Hiring a professional and trusted Baltimore bankruptcy attorney can help lessen the burden you are carrying when filing for bankruptcy. Why is it Important to Hire a Bankruptcy Lawyer?

Your financial prospects heavily rely on an accurate credit score. Sadly, errors in credit reports can hinder your ability to secure loans, mortgages, and even employment. The consequences are far-reaching, impacting various aspects of your life. This article delves into the prevalence of credit report inaccuracies, highlighting their influence on individuals. Fortunately, there are legal safeguards in place.

A credit repair lawyer is a tough thing to find. Almost all credit repair companies are not competent in the laws that regulate credit reporting and are non lawyers. Credit repair companies also offer no benefit because they do the same thing that you can do yourself. If you have an item on your report that is wrong, inaccurate, disputed, or not yours then you can file a written dispute to the credit reporting bureaus.

The economic factors wreak havoc on the personal budgets of many Americans. Now more than ever, people have difficulty making ends meet and staying current on all their obligations. Debt relief for individuals as well as businesses provides many a chance to breathe and regroup. Reliable bankruptcy representation helps put the typical bankruptcy filer at ease.

Many Illinois residents who are contemplating filing a bankruptcy petition worry about whether the proceeding will render them penniless. The comforting answer is that neither Chapter 7, which involves the total discharge of most of the petitioner’s debts and Chapter 13, which involves using the petitioner’s assets to pay down existing debts, will strip a petitioner of all assets.

Two common misconceptions about bankruptcy are that you don’t get to keep anything, and that you don’t have to pay for what you do keep. In truth, bankruptcy allows you to keep things, but you do have to continue to pay for what you keep. Because bankruptcy was designed to give the honest but unfortunate debtor a fresh start, it is important to remember that a fresh start is not the same as a head start.