Palatine Credit Repair Attorney
Helping You Obtain the Fresh Start You Need
The purpose of filing for bankruptcy is to obtain a fresh start on your finances. At The Law Offices of James M. Kelly, we help clients in Palatine, Illinois, and the surrounding areas recover from financial setbacks by providing the legal support and personal attention they need during tough times. We understand that often your debt was the direct result of unforeseen circumstances such as serious injury or job loss. Our goal is to give you the tools you need to live debt free in your life after bankruptcy.
Are My Debts Really Discharged?
Yes! With certain provisions, any unsecured debts after bankruptcy are completely discharged. Keep in mind that certain debts such as federal student loans and some taxes are exempt from the entire bankruptcy process, so you will need to continue paying those both during and after bankruptcy. Also keep in mind that you cannot file for bankruptcy for another eight years.
Other considerations include that for a Chapter 7 bankruptcy, keeping your house requires that you reaffirm your mortgage and continue making mortgage payments after bankruptcy. In a Chapter 13 bankruptcy, you can reduce your mortgage payment while in bankruptcy by including it in your overall payment plan.
How Will Bankruptcy Affect My Credit Score?
Many people believe that filing for bankruptcy will negatively impact their credit scores. However, while a bankruptcy will remain on your credit report for seven to 10 years, lending companies often consider you a better credit risk after you file. They see filing for bankruptcy as a responsible step for regaining control of your finances.
The Bottom Line
When you need debt relief, our firm can help you by guiding you through the entire bankruptcy process. We have the resources to help you stop creditor harassment, wage garnishment and foreclosure.Our lawyer works directly with you throughout the entire process so you can set realistic expectations and achievable goals for the future.
Contact Our Firm Today
When you need debt relief, contact The Law Offices of James M. Kelly either online or by calling 847-202-1616 to schedule a free half-hour consultation with our experienced Schaumburg credit repair attorney. We accept all major credit cards and offer flexible scheduling to suit your needs.
We are a debt relief agency. We help people file for bankruptcy relief under the United States Bankruptcy Code.