Chapter 13 Bankruptcy Lawyer Springfield, IL
A Chapter 13 bankruptcy lawyer Springfield, IL relies on knows that when you want to restructure your debt, filing for Chapter 13 bankruptcy may be the way to go. Overwhelming debt can leave you feeling like you do not have any more options; however, if you still have an income that is sufficient for paying off monthly incomes and debts, you may want to consider working with an attorney to file for Chapter 13 bankruptcy. To learn more about whether this is the right move for you, contact our office now.
How do you know you qualify for Chapter 13 bankruptcy?
Even if you feel that bankruptcy is a last resort, you must still qualify for the different types of bankruptcy. There are a few things that will show whether or not you qualify for Chapter 13 bankruptcy:
- There is a threshold for how much unsecured debt you can have and it does not exceed that threshold.
- You are up-to-date on your tax filings.
- You have a reliable, regular income every month.
- You did not file for bankruptcy previously within a certain period of time.
If you would like to learn more about whether you qualify, speak with your Springfield, Illinois Chapter 13 bankruptcy lawyer now.
What are the next steps for filing for bankruptcy?
When you want to file for Chapter 13 bankruptcy, you will need to work with your attorney as soon as possible to start gathering evidence that shows you are in need of filing for bankruptcy and that you qualify. You and your attorney may discuss credit counseling, which can be extremely helpful when it comes to financial planning and creating your repayment plan. Once you submit your bankruptcy paperwork, you will need to turn in your payment plan documents within 14 days and begin making your payments.
The trustee in charge of your bankruptcy case will speak with the creditors involved to determine how things are going. Once a payment plan is agreed upon and you begin making payments, it is up to you to continue making your payments on time. This will help ensure you don’t fall back into debt and will help when it comes to creditors harassing you about the debt you owe them.
Call Us Now!
If you would like to learn more about how Chapter 13 bankruptcy may be right for you, call Pioletti Pioletti & Nichols now to speak with our Chapter 13 bankruptcy lawyer in Springfield, IL.
