Read Our Bankruptcy FAQs
If you are having difficulty paying your bills, meeting rent or mortgage payments on time, and if you are being extended beyond your credit limit or making minimum payments on credit cards, then you are in a bad financial situation. Other warning signs are if you are receiving frequent calls and letters from bill collectors, having little or no savings, or receiving threats of repossession, foreclosure, garnishments, or collections.
Bankruptcy is a legal procedure in which any person who is not able to pay his or her bills can get a fresh financial start. All bankruptcy cases are handled in federal court and the right to file for bankruptcy is provided by federal law. Filing bankruptcy gives you immediate relief from all your creditors that are seeking to collect debts from you, till the time your debts are sorted out through the bankruptcy process.
The federal judiciary provides Public Access to Court Electronic Records (PACER), an electronic public access service, to federal appellate, district and bankruptcy court documents.
There are various chapters of bankruptcy available to help individuals and organizations in financial crisis. In most cases people need to file either a Chapter 7 (liquidation), or a Chapter 13 (debt restructuring plan) bankruptcy. Chapter 11 bankruptcy is available to people or establishments with bigger amounts of debt. Chapter 12 bankruptcy is available for farmers.
It is not always advisable to shop for the lowest price when it comes to choosing bankruptcy attorneys. Bankruptcy law can be quite complicated, so you should look for an attorney with many years of experience in bankruptcy practice. He or she should keep up with the latest developments in the field. You should choose an attorney who will be ready to fight for you in case the Creditors decide to ignore bankruptcy and collection laws.
In most cases of bankruptcy, you only need to go to a legal proceeding called the “meeting of creditors” to meet with the bankruptcy trustee and any creditor who decides to come. Most of the time, this meeting will be a short and simple procedure where you are asked a few questions about your bankruptcy forms and your financial situation. Occasionally, if complications arise, or if you choose to dispute a debt, you may have to appear before a judge at a hearing. If you need to go to court, you will receive notice of the court date and time from the court and/or from your attorney.
Yes, there are different options available. Though technically you may not be eligible to use a credit card, you could use a bank or debit card to carry out the activities for which you normally would use a credit card. You could be allowed to keep the credit card you already own if the creditor grants approval. If these none of these options work you may still get a secured credit card which is backed by your own bank account.
If someone has co-signed a loan with you and you file for bankruptcy, the co-signer may have to pay your debt.
Call for Coles County Chapter 7 and Chapter 13 Bankruptcy Lawyers
Call the Law Offices of Winter-Black & Baker or contact us online to learn more about the requirements for filing Chapter 7 and Chapter 13 bankruptcy. When you work with us you will receive personal attention from our experienced paralegal and experienced attorneys. We believe that giving our clients personalized attention and as much accurate information as possible is the key to a successful new beginning.



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