Going through a bankruptcy can be a very stressful and upsetting time. Usually bankruptcy protection is sought by someone when the constant barrage of creditors making harrassing calls and sending threatening letters has gotten to the point where a person can no longer take the stress. Sometimes creditors go so far as to seek a judgment against a person which then allows them to right to garnish a person’s wages or go into their checking and savings accounts and wipe them out until the debt is paid. Hiring a bankruptcy attorney in Marion Il can stop all that: the abusive calls and letters and any judgment activity.
It must be noted that filing for bankruptcy protection does not make you a bad person, or a citizen of lesser class. Bankruptcy laws were written for a purpose. They were designed to help an individual who has gotten to a point where they can no longer continue to honor their debt obligations. Getting to that place, in most circumstances, is at no fault of their own. There could be a serious injury or illness and the resulting medical bills can quickly run into the thousands–perhaps hundreds of thousands– of dollars. There could be the loss of a job and therefore a reduction in household income. A divorce can easily force a person to seek bankruptcy protection if both people are signers on credit cards and one of them goes out and makes indiscriminate charges.
If you find yourself in any of those above listed situations, it would behoove you to contact a bankruptcy attorney in Marion, Il to explore your options. As soon as you get beyond the ‘moral’ or ‘ethical’ issue of bankruptcy, you will quickly realize that filing may simply make the most financial sense.
A bankruptcy attorney in Marion Il will sit down with you and review your financial situation. He or she will look at your current income, your current expenses, what assets you have and make a recommendation. He or she will not arbitrarily suggest that bankruptcy is your best option. Sometimes, if your outstanding debt is not too great, you may be advised to work with your creditors to come up with a payment plan or settlement plan that will satisfy your debt to them without forcing you into bankruptcy. Keep in mind, creditors do not want you to file for bankruptcy protection. They want you to keep paying them, even if it is a modified amount.
For over 14 years experience as a bankruptcy attorney, Law Office of Bradley P. Olson offers personal attention to each client faced with bankruptcy in Marion IL. Visit them.
