Deciding Whether or Not to File for Bankruptcy
Filing for bankruptcy is a major life decision that should not be made lightly. The truth is, if you have so much debt that you are considering filing for bankruptcy, there is a good chance that you need it. However, you should always consult with an attorney before making such a potentially life-altering decision.
At Ledford & Wu, we offer a free initial consultation during which you can meet with an attorney and gather all the information you will need before deciding whether or not to file bankruptcy. Our experienced lawyers focus exclusively on handling bankruptcy law in Chicago, Illinois, and surrounding suburbs.
To schedule a free consultation with a lawyer at Ledford & Wu, call us today at 888-542-1900 or contact us online.
Bankruptcy Will Not Ruin Your Life …
… although your credit rating will suffer for a while. However, this doesn't mean you won't be able to get a loan. For the most part, individuals who file for bankruptcy benefit immensely by being free of debt and free of harassment from creditors. See "Life After Bankruptcy" to learn more.
Common Myths About Bankruptcy
You may be worried that your friends will find out if you file for bankruptcy. Unless they scour the public records daily, they likely won't. You may be afraid that you will have to sell all your earthly possessions. You won't — even if you file for a Chapter 7 "liquidation" bankruptcy.
You may think that if you have filed for bankruptcy before, you can never do it again. In truth, you can file for Chapter 7 once every eight years, and you can file for Chapter 13 as often as you need to, provided that you have only one bankruptcy in progress at a time (Chapter 13 takes three to five years to fully resolve).
An Experienced Lawyer Can Help You Decide
Don't rely on myths and hearsay to help you determine whether to file for bankruptcy. Speak with an experienced bankruptcy attorney — one who will answer all of your questions and who won't pressure you into bankruptcy if it's not truly right for you.
To schedule a free consultation with a lawyer at Ledford & Wu, call us today at 888-542-1900 or contact our offices online. We look forward to meeting you.
