Sometimes people do not want to step back and take a look at where they are really at financially. It is just easier to keep putting things on credit and pay things off if their budget allows. Unfortunately, living this way can take its toll over time. When it all becomes to much to handle, for some Illinois residents certain debt relief options may be the only way out — such as a Chapter 13 filing for example.

Refusing to acknowledge that one is in a debt crisis is something that most people want to do. No one wants to admit that their finances have gotten out of control. But doing so is an important step to getting the help one needs to improve the situation.

When credit cards are maxed out or balances keep rising, when one cannot afford to save for an emergency, when bills are not being paid on time or one’s credit score has taken a big hit, it really is time to stop and address the issue. By taking inventory of all debts, one will be able to better decide how to tackle the problem. For some, sticking to a strict budget will do the trick. However, for others, help to pay off debts may be required.

Illinois residents who should make enough money to pay off their debts, but their funds are being stretched in too many different directions, may benefit from a Chapter 13 bankruptcy filing. With this type of bankruptcy, if approved, an affordable repayment schedule will be created so that creditors are getting paid and the petitioners basic needs are still being met. An experienced bankruptcy attorney can review one’s financial situation and, if appropriate, assist one through the bankruptcy process.

Source:, “7 signs you’re in debt over your head“, July 3, 2017