Are you tired of worrying about your debt problems? If you meet the basic requirements, the law actually gives you the right to discharge your debts through Chapter 7 bankruptcy. If you don't qualify for Chapter 7, Chapter 13 Bankruptcy may provide a great alternative.
Get Out of Debt Fast with Chapter 7 Bankruptcy
Chapter 7 bankruptcy is a fairly quick process. In most cases, the debt is discharged in about three months. Creditors are then prohibited from ever collecting on the discharged debt. As a result, you can get on with your life, debt-free.
If you receive a Chapter 7 discharge, you can permanently eliminate:
- Charge Card Debts
- Signature Loans
- Medical Debts
- Utility Debts
- Car loan repossession deficiencies
- Mortgage loan foreclosure deficiencies
- Lease debts
Become Debt Free Through Chapter 13 Bankruptcy
Chapter 13 bankruptcy offers the chance to pay-off debt through a court-approved installment plan. As long as you have sufficient income to propose a feasible plan that meets the court's requirements, you can can get protection from your creditors while being allowed to pay your debt over a period of time.
If you file for Chapter 13 bankruptcy, you can propose a plan that will allow you to:
- pay a mortgage deficiency
- pay a car loan deficiency
- pay back-taxes
- pay unsecured debt
If you would like to speak with a Cary, IL area Bankruptcy Attorney, please call 815-788-9511 for a free consultation.