Debt is a part of many adults’ lives today. While many people can pay off what they owe with no problem, others find it difficult to pay anything at all.
When debt has overtaken your life, you do not have to deal with it on your own. You can hire an bankruptcy attorney in Rockford, IL, to guide you in discharging or consolidating most or all of your debts today.
Filing a Chapter 7
Depending on the circumstances of your debt, you could file a Chapter 7 case to have most or all of your debts discharged. This type of case eliminates medical bills, credit card obligations, payday loans and other civil debts. However, it cannot dissolve student loans, civil judgments, or defaulted child support or taxes.
You can file a Chapter 7 every eight years to liquidate obligations that you cannot pay. Once you file, creditors cannot contact you or take collective action against your income or assets.
Filing a Chapter 13
You can also file a Chapter 13 to consolidate your debts. You pay on the consolidation for six years. After six years, most or all of the remainder is discharged or forgiven.
You can learn more about the right case to file by contacting a bankruptcy attorney in Rockford, IL, online. To set up a no obligation consultation or to get more details about filing, you can contact Crosby Law Firm at their website.
