Don’t Let Debt Consume You – Call a Bankruptcy Lawyer for Pekin IL
You might think declaring bankruptcy is your only way out of debt. However, there are other options to consider. And even when bankruptcy is your final choice, it’s best to know what chapter of bankruptcy is best to file for. For help navigating the perils of an unfortunate financial situation, get the assistance you need from a bankruptcy lawyer for Pekin IL. Moreover, call the services of Kepple Law Group.
At Kepple Law Group, we dedicate our time to digging you out of your financial woes. We have a deep understanding of debt and bankruptcy laws. For superior guidance, you can rely on, Kepple Law Group has your back. Our experience stems from multiple years representing hundreds of clients throughout Illinois and Arizona and presenting cases to the highest state courts.
Before and After
The attorneys at Kepple Law Group can work with you to discover an alternative to declaring bankruptcy. However, if bankruptcy is the only option, we will help you determine the next best steps and what you should be filing for.
Alternatives to Bankruptcy Filing
- Negotiating with Creditors – Many individuals or businesses don’t think to first talk with their creditors and explain their situation before declaring bankruptcy. A lawyer can sometimes help settle your debts for less than you originally owed.
- Debt Counseling – Working directly with a credit or debt counseling agency helps you better manage your payments. Instead of being forced into bankruptcy, an attorney and debt agency can develop a plan where you pay a manageable amount towards your debts every month.
- Consolidating Your Debt – Having all your debt under one umbrella can ensure you’re only affected by one interest rate and can more easily manage monthly payments. You can either get a debt consolidation loan, transfer your debt to one credit card or get a home equity line.
Options When Filing for Bankruptcy
- Chapter 7 Bankruptcy – When filing for chapter 7, you must liquidate all nonexempt assets, and the remainder of your debt will be dropped. If your income is less than the state average, you can qualify for this bankruptcy filing. However, chapter 7 does not resolve debts involving property or student loans.
- Chapter 13 Bankruptcy – When filing for chapter 13, a payment plan is worked out with your creditors to pay back a portion of your debt. After three to five years of payment, the remainder of the debt usually is let go. This filing is better if looking to avoid foreclosure on your property and housing.
- Other Options – Other cases for filing bankruptcy are unique to the person, business or situation. Chapter 11 is primarily for businesses and involves a reorganization of debt, chapter 12 applies directly to family farmers, and chapter 15 includes cases of bankruptcy overseas.
Our Other Services
If you need more help than a bankruptcy lawyer for Pekin IL can provide, Kepple Law Group has plenty of options for you. We focus on multiple areas of law and can get you the representation you need. For example, our practice areas include:
Call Our Office
Don’t make bankruptcy your first option for getting out of debt. Talk to a bankruptcy lawyer for Pekin IL today to learn what options are available to you. You can call Kepple Law Group at (309) 282-1545 for a free consultation. Also, we are located at 2426 W. Cornerstone Court, Suite #209, Peoria, IL 61614.