Dealing with mountains of debt can be frustrating at the least. As more and more people are faced with debt issues, there seems to be very little in the way of options to help them. Things can be even more difficult for those who have lost a job or are facing an illness or injury. The first step in trying to overcome your debt is to begin contacting your creditors and see if they will be willing to work with you on repayment. If you are unable to make headway through this process, hiring a Bankruptcy Attorney in Granite City IL may be your answer. Though you should never enter into bankruptcy without careful consideration, it can help to pull you out of your debt and get you back on your feet financially.
What Can You Expect When You File for Bankruptcy Through a Bankruptcy Attorney Granite City IL?
The process for filing for bankruptcy can be a confusing one if you are not aware ofthe laws and your rights. This is why many people reach out to hire an attorney to help them. By working with an attorney, you can rest assured your paperwork will be filed correctly and you will have assistance through the entire process. This makes the process a much easier one for many.
To start the process, the attorney will first fill out your paperwork and file the petition for bankruptcy with the court system. You will receive a hearing date and all of your creditors will be informed of your filing status. This allows your attorney to prepare for the hearing and allows time for your creditors to respond.
If you are filing chapter 13 bankruptcy, you will be required to pay a monthly payment through the courts. In the case of chapter 7, you will have all of your non-essential assets liquidated to pay off your debts. Your attorney can assist you in making the right decision on which type to file.
