You’ve been struggling to pay your bills for a while. You have money coming in, but too much going out. You are getting to the point where you may start losing everything. Before it gets any worse, you want to know what options you have to solve the problem. You, and other Illinois residents like you, may benefit from a Chapter 13 bankruptcy filing.

Chapter 13 filings are reserved for people who have steady incomes but are simply overwhelmed with debt obligations. This is a debt relief option for people who want to keep their property and just need an affordable payment schedule to pay off their creditors. It can be a good option for you if you can achieve court approval.

If you file a Chapter 13 petition, you need to be ready to put your financial situation out there for review. You also need to be ready to present a repayment schedule to your creditors and the court. This is not an easy process to go through. Creditors certainly aren’t going to make it a walk in the park for you. Luckily, you do not have to go through it all alone.

A bankruptcy law attorney can help you with your Chapter 13 filing by preparing your petition and a proposed repayment plan, and by being present and representing you at any hearings. With legal counsel on your side, you can get through the bankruptcy process — hopefully with a positive outcome — as swiftly and smoothly as possible. To learn more about Chapter 13 filings and how an Illinois-based attorney can be of assistance to you, please visit our firm’s website.