Dupage County Bankruptcy Attorney
Serving Individuals and Families Throughout Dupage County
Filing for bankruptcy is a serious decision, and when facing crushing debt is important to consider and understand fully. Federal laws provide the opportunity for a fresh start for those who are suffering from too much debt. Many families and individuals have determined that in order to move forward and end the anguish and stress of constant creditor calls, repossessions, wage garnishment and threats of legal action that they will file for Chapter 7 bankruptcy. In 2005, the laws were updated regarding the bankruptcy process, and the filing process is even more complex. It is strongly advised that you contact a
Dupage County bankruptcy lawyer to assist you with the process. Whether you live in Waukegan, Naperville, Chicago or other area, the Law Office of Marc Wagman, LLC will provide you with the personal service and commitment that you deserve. The legal team at the firm assists with all types of matters related to bankruptcy, and can provide you with a
bankruptcy overview when you contact our firm.
If you find yourself overwhelmed with debt and bills that you can't pay, you are most likely a candidate for chapter 7 bankruptcy. However, if you have a large number of assets, you may not qualify for a Chapter 7 bankruptcy. Instead, a
chapter 13 bankruptcy can be an excellent option for your financial problems.
With a Chapter 7 (debt liquidation) bankruptcy, many unsecured debts are able to be discharged. Such debts may include credit cards, medical bills, personal loans and certain taxes (over 3 years old). For those debtors that are overwhelmed with credit card debts, large personal loans and/or large medical bills, they may find Chapter 7 bankruptcy to be an excellent option.
However, Chapter 7 bankruptcy is reserved for those who really need it. In order to qualify for the Chapter 7, the debtor must first pass the bankruptcy means test. If the debtor's income is too high, then they will be diverted to file a Chapter 13 bankruptcy instead. For debtors who have a significant and steady source of monthly income, they may have no other choice but to file a Chapter 13 (debt reorganization) bankruptcy. Even the Chapter 13 bankruptcy has many benefits, and this is a common choice for homeowners who wish to remain in their home as opposed to losing their home to foreclosure.
With methods to pay back debts and obligations, a Chapter 13 bankruptcy can also reduce your interest rates or principal amounts. People wrongly believe that bankruptcy can destroy your credit forever or that you will be a social outcast if you file for bankruptcy. We are here to debunk these bankruptcy myths and to help you establish a
bankruptcy timeline for your specific situation.
With the many types of bankruptcy available today, you are able to look at the options and
benefits of bankruptcy to determine what is best for you and your family. During the
bankruptcy process, you will begin to get an idea for what
life after bankruptcy will look like. You will be relieved to see an end to
creditor harassment and will be able to enjoy the fresh start that bankruptcy provides. If you are seriously considering
bankruptcy & foreclosure, one of the most important questions you can ask is
how to choose a lawyer? A skilled attorney can help you work through the
alternatives to bankruptcy and determine if you will pass the
means test, a form that determines if you are eligible for bankruptcy.
The Law Office of Marc Wagman, LLC: Dupage County Bankruptcy Attorney
A full review of your situation should take place immediately in order to determine whether you qualify to file for Chapter 7 or Chapter 13 bankruptcy. A lawyer from this outstanding law firm will answer your questions and advise you how to proceed in ending the financial stress. Not only will you have the personal and compassionate legal assistance should be expected, but as you are already in financial deep water, a personal payment plan can be established to make it easier for you to pay for your legal services. The legal team at the Law Office of Marc Wagman, LLC knows that most people who need to file for bankruptcy are hardworking and responsible, and have had a financial disaster of some sort, whether medical, mortgage, or other situation that has destroyed their ability to keep up with their outstanding bills. This stressful and dismaying situation can destroy families and even the health of those who are under constant anxiety about what will happen to their family and their assets.
After working for one of Chicagoland's largest bankruptcy firms, it became obvious that a need for affordable and personal legal services for working people in the area was needed. Attorney Marc Wagman, a Chicago native and experienced bankruptcy attorney, is dedicated to assisting the working family who are facing financial stress and to help them resolve this matter through a bankruptcy petition. Coming from a working class family and understanding the real concerns of those facing financial stresses creates gives Marc an understanding not shared by many large "bankruptcy mills." It is important to know that waiting too long to file can cause certain losses that could be avoided, so to
find out if bankruptcy is right for you, it's important to act quickly and contact the firm.
Contact a Dupage County bankruptcy attorney from the Law Office of Marc Wagman, LLC.