No one wants to admit that they have failed with their family or business finances. That seems to be a hard pill to swallow. Take some time and talk with Bankruptcy Lawyers in Rockford, IL and you will take your first step towards feeling better about your situation. Your will find out that the need to file for bankruptcy is not your fault, it happens to many people from all walks of life. Our national economy over the last few years has caused many problems in finances.
Once you make your initial appointment with The law office of Hampilos & Associates Ltd you will come to a better understanding of bankruptcy, and what it is all about. There are two forms of bankruptcy: Chapter 11 where you make a restructuring plan of your bills to your creditors, and you make a long range agreement to pay your bills back. Chapter 7 relieves you from all of your debt that you have accrued over the years. Your attorney will explain the differences and help you decide which is better for your needs.
The bankruptcy process is not something that will happen over night. You will have a lot of paper work to do. Many states require you to take a class to learn about bankruptcy, usually this can be done on line. Then your attorney will give you some papers to complete including a list of all of your creditors and how much you owe. You will also need to list your family income and expenses. You will meet with your attorney to go over this paper work. As your near your court date, you will have to take another class that is very helpful. You will learn how to set financial goals for yourself; make a ten year plan to meet those goals; structure a current goal that you can live by, and so forth. Finally your court day arrives. Do not be afraid, your attorney will be there to help you get through the day. He/she has gotten all paper work needed. The court hearing will be easy. The magistrate will ask a few questions of you. Give short succinct answers, and everything should go well. Good Luck and be sure to trust your attorney! Visit website to know more about the experienced bankruptcy lawyers in Rockford, IL.
