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.
Debt, just about everyone has it. It does not matter at what phase of one's adult life one is currently in, money struggles can happen at any time. Illinois residents, particularly those who are heading into or currently in their retirement years and are burdened with significant debt, may want to know if filing a Chapter 13 or 7 bankruptcy is the right way to address their situations.
Ever fail to pay a debt even though one has income coming in? It is okay; it happens. Sometimes, financial obligations get to be too much. What one does after the fact matters. For Illinois residents who find themselves in this position, Chapter 13 may offer an affordable debt solution.
The vast majority of Americans are in debt. While not all debt is bad, per se, being debt-free really is the goal and can help one carry much less stress on a day-to-day basis. For Illinois residents who find their financial situations looking pretty bleak, Chapter 13 or 7 bankruptcy filings may offer relief that is both needed and desired.
This is the year -- the year to get out of debt. Becoming debt free is a New Year's resolution that many Illinois residents set every year. Some meet that goal and others do not. For those who have the desire to join debt free society, there are ways to get it done. If certain debt relief options fail, a Chapter 13 bankruptcy may be a viable option.
Many Illinois residents may feel that filing for bankruptcy is the worst thing they can do to help their financial situations. While it is not generally the first thing to resort to in a financial crisis, it is not something to shy away from either. A Chapter 13 filing can have numerous benefits and will not prevent a person from achieving his or her economic goals in the future.
There are different kinds of people in the world who have varying views about how certain things will help or hurt them. For instance, when it comes to filing for bankruptcy, whether Chapter 13 or Chapter 7, it can affect one's credit score. Some people will view this as a reason to avoid bankruptcy at all costs, while other Illinois residents may only see it as a small bump in the road to financial freedom.
Getting a bankruptcy approval can bring a lot of relief, financially and emotionally. For those who end up with a Chapter 13 repayment plan, it may seem great -- until it becomes too difficult to keep up with payments due to unexpected life events, such as changes in employment and income. What can Illinois residents who cannot keep up with their Chapter 13 repayment plans do?
Debt collectors are in contact with numerous Illinois residents on a daily basis. Dealing with people wanting money when one doesn't have any can be stressful, to say the least. Chapter 13 or 7 bankruptcy may help ward of debt collectors and -- if approved -- give petitioners financial relief. But what about other debt relief services? Are any of them legitimate?
Getting calls from debt collectors about a debt of which one is not aware can be really disturbing. Unfortunately, it happens all the time. How does one know if it is the real deal or if a scammer is just trying to take advantage? There are some ways to find out, and if it is really owed, Illinois residents may turn to Chapter 7 or Chapter 13 bankruptcy if they need help addressing it.