Apr 22, 2013

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Schaumburg Chapter 7 bankruptcy filings

In today’s economic climate, many do not know where to turn for help with their financial nightmares. A group of Chicago lawyers are aiding many in this situation by helping with bankruptcy filings. Through no fault of their own, many people are losing the financial battle, some have lost their jobs, while others may have health issues. The law group of Ledford and Wu can help the residents of Chicago and the surrounding areas. For many filing bankruptcy is the only option they have left, but how do they do it and what kind of bankruptcy do they file . The attorneys of Ledford and Wu will guide you through and help you every step of the way explaining everything you need to do and what will happen next.

There are many forms of bankruptcy, the most common types for individuals are Chapter’s 7 and 13. Chapter 13 will allow you to devise a payment plan to work through your financial problems whereas Chapter 7 is a liquidation bankruptcy and will eliminate all eligible debts.

Ledford and Wu have offices in Chicago and surrounding towns such as Elgin, Bolingbrook, Homewood and Schaumburg. If you believe you need to file in Schaumburg Chapter 7 can easily be dealt with in the local office on Perimeter Drive.

There are many steps in the process to file bankruptcy, so securing the help of legal council is a really good idea. The first stage is to file your case with the federal bankruptcy court, once you have done that you are under the protection of the bankruptcy court and all creditors are no longer allowed to contact you in an effort to collect the debt. The next stage of the proceedings will be a meeting of the creditors, as a rule, the creditors do not usually show up at this meeting, however if they want to they can. You must be at this meeting with your attorney, this is mandatory and you cannot decide you don’t want to go, so be warned.

During the course of the bankruptcy your attorney will help you and instruct you in what you need to do to comply with the bankruptcy court. So contact Ledford and Wu and let them help you.

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