Get Rid of Crushing Debt for Good in Belvidere, Illinois

Get Rid of Crushing Debt for Good in Belvidere, Illinois

Learn everything you need to know about bankruptcy law

Filing for bankruptcy may sound terrifying, but it’s one of the smartest things you can do for your debt. At the Law Offices of Henry Repay, we can help you banish your debt entirely. Take control of your life again by filing for Chapter 7 or 13 bankruptcy with the Law Offices of Henry Repay. Schedule your free consultation in Belvidere, IL today.

5 things to know about filing for bankruptcy

Attorney Repay will help you understand everything you need to know about bankruptcy law. Here are some of the basics about personal bankruptcy:

  1. If you have a huge amount of debt, Chapter 7 bankruptcy is probably the right option for you. There is no limit to how much debt you can have to file for Chapter 7 bankruptcy.
  2. If you file for Chapter 7 bankruptcy, you do not have to repay your creditors. However, most of your assets will be liquidated.
  3. If you file for Chapter 13 bankruptcy, the courts will place you on a manageable repayment plan to get rid of your debt.
  4. You can’t file for Chapter 7 bankruptcy if you have filed for Chapter 13 bankruptcy within the last six years.
  5. Filing for bankruptcy under either chapter will take a toll on your credit for a few years, but it’s easier to rebuild your credit after a bankruptcy than after several payment defaults and repossessions.

Learn more about filing for bankruptcy by speaking with a talented bankruptcy attorney with three decades of experience. Call 815-547-3369 now to speak with a qualified attorney.