Bankruptcy
Sometimes, you know when you need a lawyer. Arrested and sitting in jail? Just served with divorce papers? Your first thought likely would be that you need to find an attorney.
With debt, however, the decision isn’t so clear. Even as the situation becomes more dire, many hold out for better times, a bailout or even a miracle like a lottery ticket. The perceived stigma and shame of filing for bankruptcy may make you hesitant to consider it.
People often make terrible financial decisions due to their reluctance to consider bankruptcy, throwing money away that they could have kept in order to stay out of it, only to end up filing anyway because they’ve run out of alternatives.
If you are in financial trouble, you don’t need to regard bankruptcy as a last resort.
Attorney Brian G. Hiatt works to take the fear and anxiety out of this often misunderstood process from the moment you first meet with him. He will review your financial situation, and after talking through your concerns, he will begin planning a strategy to help you achieve meaningful debt relief.
Mr. Hiatt will answer your questions about bankruptcy and whether it is right for you. Check the Bankruptcy FAQ page for answers to questions he frequently receives, or call 815-304-5441 directly to schedule a free consultation.
Understanding How Bankruptcy Can Help You
If your carry primarily consumer-related debts like credit card debt, medical bills, a mortgage or car loan, you might consider filing under Chapters 7 or 13 of the bankruptcy code. There are other chapters of the code, such as Chapter 11, but they generally are not suited for personal debt.
When you file for bankruptcy, the bankruptcy code provides an immediate bar of any creditor action against you. This immediate relief is called the “automatic stay.” As soon as you file, your creditors are prohibited from taking any collection actions against you, including:
- Foreclosure on your home, even if it is the day before the sheriff’s sale
- Garnishment of your wages
- Repossession of your car or secured personal property
In short, when you file bankruptcy, court dates and wage garnishments end, and the phone stops ringing. Without all the noise, you can then clearly consider your options.
Seeking Debt Solutions Tailored To Your Needs
Mr. Hiatt will help you determine whether you are a good candidate for either Chapter 7 or Chapter 13 personal bankruptcy depending on your unique circumstances and your goals. He can also advise you on related issues that can crop up in the context of seeking debt relief, such as how to protect your house and other important assets from liquidation, or the relationship between divorce and bankruptcy.
Whatever your situation, you can trust Mr. Hiatt’s more than 15 years of experience to help you find the optimal debt relief option.
Get Started On Living Debt Free Today
Bankruptcy relief is sometimes described as a “fresh start,” but the positive effect of a discharge extends well beyond the moment you receive a discharge. Many individuals are stunned to learn that their credit scores can improve 50 points or more within a year of their discharge. For many, clearing their credit of old debt and reducing their debt-to-income ratios improve their credit much faster than other approaches, such as debt consolidation or settlement.
That being said, bankruptcy is not for everyone. To discuss your debt relief options with a knowledgeable bankruptcy lawyer, contact the law office of Brian G. Hiatt Attorney at Law by calling 815-304-5441 for a free consultation. From his office in Bourbonnais, Mr. Hiatt helps clients throughout Kankakee County and the surrounding areas of Illinois.
Brian G. Hiatt’s law firm is a debt relief agency. It helps people file for bankruptcy relief under the Bankruptcy Code.