Bankruptcy Lawyer Bloomington, IL
Bankruptcy Lawyer Bloomington, IL
A bankruptcy lawyer that is respected and admired by Bloomington IL residents knows that filing for bankruptcy is one of the most difficult decisions an individual can make. There can be a number of reasons and factors that can force a person to file for bankruptcy. It is not the ideal solution to relieve a person of their debt issues, but sometimes it is the only solution available. However, with the assistance of a reputable lawyer who can support you through the bankruptcy process, the experience can be considerably less stressful. You can obtain professional help by contacting a Bankruptcy Lawyer Bloomington, IL who has helped many clients with bankruptcy, like one from the team at Pioletti Pioletti & Nichols.
Bankruptcy Lawyer Bloomington, IL
For over 80 years, the lawyers at Pioletti Pioletti & Nichols have served their clients and helped them become informed of their legal rights. They believe that quality legal services and representation are built on trust and accessibility, and are available to their clients 24/7.
Types of Bankruptcy
If you’re someone who is facing bankruptcy, you may have a couple of questions about where to start. A skilled lawyer would advise you that you review all the information and facts of your financial situation before filing for bankruptcy. There are several types of bankruptcy and individuals can file for, so it’s important you choose the one that is most appropriate for your particular situation. There are also a number of requirements you have to meet, so consulting with an experienced Bloomington, IL bankruptcy lawyer is highly recommended. Below are the most common types of bankruptcy that people file for:
- Chapter 7. As one of the most common forms of bankruptcy, Chapter 7 bankruptcy eliminates many kinds of debt and prevents debt collectors from harassing you with collections notices. It takes only a few months to complete, unlike Chapter 13 bankruptcy. One of the biggest benefits of Chapter 7 bankruptcy is that it allows homeowners to retain their property. Some of the debt categories that are not affected by Chapter 7 bankruptcy however include student loan payments and unpaid taxes.
- Chapter 13. This type of bankruptcy centers on debt reorganization and a simplified repayment plan. In exchange for debt reconsolidation, individuals must agree that they will make monthly payments. Some of the benefits of Chapter 13 bankruptcy is that it temporarily halts evictions, foreclosures, and repossessions. Chapter 13 may be beneficial for people in a variety of scenarios, such as those who have high credit card debt or other types of unsecured debt.
Schedule a Consultation For Legal Assistance
Financial recovery is possible after filing for bankruptcy. It may take several years for your credit score to return to an acceptable number, but many people who go through bankruptcy do have better control of their finances and quickly experience positive results by the end of the process. By working with a lawyer, you benefit from additional guidance and legal support to make bankruptcy much less stressful to go through. Contact a trusted bankruptcy lawyer that Bloomington, IL counts on and schedule a consultation at Pioletti Pioletti & Nichols today.
