While it’s not a decision you want to make lightly, there are situations where you may need to consider filing for bankruptcy. However, if you are in a financial situation where you need to consider this option, you’ll need to consider how you are going to file for bankruptcy. You can legally file for bankruptcy on your own or you can hire a bankruptcy attorney to handle the process on your behalf. In most situations, it‘s a good idea to hire the services of bankruptcy lawyers in Rockford, Il rather than trying to go it alone.
The question you may have when you want to find a bankruptcy lawyer is how much will their services cost. In most cases, a bankruptcy attorney will charge a flat fee for their services. This fee will often include all the fees for filing a petition of bankruptcy with the courts as well as the attorney’s fees.
It’s important to understand that if you are filing Chapter 7, you will need to have the money upfront to hire an attorney. However, if you are filing a chapter 13 bankruptcy, which is a court-ordered repayment plan, you can make installment payments for the filing fees and the attorney costs.
Also, filing for bankruptcy can give you a little immediate peace in your life. If you are being hounded by creditors and they keep calling you day and night, or you are getting threatening letters, filing for bankruptcy will likely end any contact you have with creditors. Bankruptcy puts a legal hold on any attempt a creditor can make to collect on a debt. Even if you are in the midst of a lawsuit brought on by a creditor, a bankruptcy puts a hold on all creditor activity under them collecting on current debt.
The great thing is, if you are considering filing for bankruptcy, you can usually schedule free consultations with bankruptcy lawyers. In these consultations, you can talk to an attorney and discuss your situation. These lawyers can answer any question you may have and in many situations, they may be able to help you find alternative solutions to your debt issues without having to file for bankruptcy. You can visit Crosby Law Firm for more information.
