Do you have problems paying your debts? Are you threatened with wage garnishment, foreclosure or repossession? If so, you may want to consider bankruptcy as a way to deal with these problems.
Many people in the Schaumburg, Chicago, Joliet and Warrenville area consult Chang and Carlin, LLP Law Firm to determine whether to file for bankruptcy or not. Our experienced Chicago Bankruptcy attorneys tell those people that they have the right under federal law to file for bankruptcy relief from their creditors. However, it can also be very important to choose the right time to file for bankruptcy relief.
Timing is a critical factor in planning a bankruptcy case filing, due to the following reasons:
a) You should always wait as long as possible before filing bankruptcy because you can do so only once every six years. You should try to save this valuable option until you’re absolutely certain that you need it.
b) Also, you may not need to file bankruptcy even though creditors are threatening you because you may have no non-exempt property or wages.
c) Sometimes, it's better to file for bankruptcy immediately. Keep in mind that you must receive the required credit counseling within 180 days before your bankruptcy case is filed.
d) In order to file a Chapter 7 Bankruptcy case, most individuals are required to take and pass the “Means Test”. For many people, means test income can change every month, so you may not qualify to file a Chapter 7 one month, but maybe you will the next month. Being able to delay filing means being able to file when you are likelier to pass the means test. With a Chicago Bankruptcy Attorney to guide you through this process, you can be sure that your income and expenses are properly represented
e) Certain debts, such as income taxes and cash advances, which only become dischargeable after certain amounts of time, have passed.
f) Timing the bankruptcy filing is also critical in preserving assets in bankruptcy cases.
Contact a Chicago Bankruptcy Lawyer at the Chang and Carlin LLP Law offices to learn more about how we can help with the means test and bankruptcy in general. For an initial FREE Bankruptcy Legal Consultation, contact our Law offices in Chicago. For all your bankruptcy, foreclosure, IRS and tax issues, and real estate legal needs, Chang and Carlin, LLP will provide the necessary legal experience and personal service that you deserve.
Disclaimer: The content provided by Chang and Carlin, LLP is not legal advice and is purely for informational purposes. The information contained herein is not a substitute for the advice of an attorney and does not create an attorney-client relationship. If you are interested in obtaining information about Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, Foreclosure services, or Real Estate legal services, call our law firm at 1-866-790-8601 for a Free Legal Evaluation. Chang and Carlin, LLP serves clients in Chicago, Schaumburg. Joliet, and Warrenville.
Many people in the Schaumburg, Chicago, Joliet and Warrenville area consult Chang and Carlin, LLP Law Firm to determine whether to file for bankruptcy or not. Our experienced Chicago Bankruptcy attorneys tell those people that they have the right under federal law to file for bankruptcy relief from their creditors. However, it can also be very important to choose the right time to file for bankruptcy relief.
Timing is a critical factor in planning a bankruptcy case filing, due to the following reasons:
a) You should always wait as long as possible before filing bankruptcy because you can do so only once every six years. You should try to save this valuable option until you’re absolutely certain that you need it.
b) Also, you may not need to file bankruptcy even though creditors are threatening you because you may have no non-exempt property or wages.
c) Sometimes, it's better to file for bankruptcy immediately. Keep in mind that you must receive the required credit counseling within 180 days before your bankruptcy case is filed.
d) In order to file a Chapter 7 Bankruptcy case, most individuals are required to take and pass the “Means Test”. For many people, means test income can change every month, so you may not qualify to file a Chapter 7 one month, but maybe you will the next month. Being able to delay filing means being able to file when you are likelier to pass the means test. With a Chicago Bankruptcy Attorney to guide you through this process, you can be sure that your income and expenses are properly represented
e) Certain debts, such as income taxes and cash advances, which only become dischargeable after certain amounts of time, have passed.
f) Timing the bankruptcy filing is also critical in preserving assets in bankruptcy cases.
Contact a Chicago Bankruptcy Lawyer at the Chang and Carlin LLP Law offices to learn more about how we can help with the means test and bankruptcy in general. For an initial FREE Bankruptcy Legal Consultation, contact our Law offices in Chicago. For all your bankruptcy, foreclosure, IRS and tax issues, and real estate legal needs, Chang and Carlin, LLP will provide the necessary legal experience and personal service that you deserve.
Disclaimer: The content provided by Chang and Carlin, LLP is not legal advice and is purely for informational purposes. The information contained herein is not a substitute for the advice of an attorney and does not create an attorney-client relationship. If you are interested in obtaining information about Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, Foreclosure services, or Real Estate legal services, call our law firm at 1-866-790-8601 for a Free Legal Evaluation. Chang and Carlin, LLP serves clients in Chicago, Schaumburg. Joliet, and Warrenville.
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