Chapter 7 Bankruptcy Lawyer Decatur, IL
When you believe that filing for bankruptcy is the best option, speaking with a Chapter 7 bankruptcy lawyer Decatur, IL relies on from Pioletti Pioletti & Nichols is a great option. Choosing to file for bankruptcy is not an option anyone takes lightly and we understand that this can mean a huge life change for you. If you are interested in discharging unsecured debt and want to see how Chapter 7 bankruptcy can help you, give our office a call. We understand that it has taken a lot for you to get here and we would like to help you the rest of the way. Contact our office now to see how we can help.
The Means Test
Filing for Chapter 7 bankruptcy means you must qualify for it. If you have a steady income and make enough money, filing for this type of bankruptcy will not work out for you. If you are not sure about whether you would qualify for Chapter 7 bankruptcy or not, you should speak with your attorney about the means test. This will help determine if you qualify. This test takes into account different financial information: your expenses, your secured and unsecured debt, your income, and more. If you make less than the median income of other families within your state, then you may qualify for Chapter 7 bankruptcy. If not, you should speak with your attorney about other types of bankruptcy you may qualify for.
What kinds of credit card debt will Chapter 7 bankruptcy discharge?
A Decatur, Illinois Chapter 7 bankruptcy lawyer knows that this type of bankruptcy will not wipe out all debt. However, it can help clear up debt with things like:
- Your mortgage
- Your cars
- Medical bills
- Credit cards
How do you know it’s the right time to file?
When you are wondering whether it is the right time to file for Chapter 7 bankruptcy, you will likely see a few signs. For example, if you have almost no extra income every month, you are extremely stressed about your finances and the things you own, and if you have so much debt that it is more than half your income, filing for Chapter 7 bankruptcy may be right for you.
Who can you turn to?