Frequently Asked Questions – Illinois Bankruptcy

Kane County Bankruptcy Lawyer

How do I know if filing for bankruptcy is right for me? Deciding whether to file for bankruptcy is a personal decision that is best made after reviewing and discussing your financial situation with a professional. You can find out whether you are eligible to file a Chapter 7 liquidation, or if a Chapter 13 reorganization may be better for you. You can learn about the particular benefits of filing for bankruptcy and also find out what affects it will have on you now and in the future. Kane County bankruptcy attorney Joseph Doyle offers a free consultation to help you get started.

I’m constantly being harassed by creditors. What can I do? Filing for bankruptcy immediately prohibits any further collection efforts by creditors and debt collection agencies. If you have been the victim of creditor harassment or abuse, this may be grounds for legal action under the Fair Debt Collection Practices Act (FDCPA.) A lawyer can discuss this with you and help put an end to this.

Can bankruptcy stop foreclosure? Depending upon the situation, filing for bankruptcy may place an automatic stay on foreclosure proceedings. In fact, in filing a Chapter 13 bankruptcy case you may be able to effectively stop foreclosure and work to keep your home.

What are some of the benefits of filing for bankruptcy? Filing for bankruptcy places an automatic stay on all collection proceedings, including any legal action that has been taken against you in this regard. You can stop creditor harassment, stop wage garnishment, stop foreclosure and stop property repossession. Best of all, the end result of a bankruptcy case is the complete elimination of all eligible debt. Bankruptcy can give you the fresh start you need.

Are there alternatives to bankruptcy? Bankruptcy is not right for everyone. In some cases, there are alternatives that can be explored, such as debt settlement, debt consolidation, or another resolution through credit counseling (which is a requirement to file for bankruptcy in the first place.)

Have all of your questions about bankruptcy answered by experienced Kane County lawyer Joseph P. Doyle. Contact us today!