What are the Benefits of Bankruptcy?
Let Smith Ortiz, P.C. Provide the Answers You Need
For those struggling with debt, bankruptcy can provide a chance to start
over and recover financially. In some situations, filing for bankruptcy
is the most responsible action a person could take. If you are considering
bankruptcy, your first step should be to consult with an experienced Chicago
bankruptcy attorney. At Smith Ortiz, P.C., we will first review your finances to
determine if bankruptcy is truly your best option, or if an
alternative to bankruptcy may offer more relief.
Our team of dedicated professionals has more than 25 years of combined
experience and a deep knowledge of state and federal laws concerning bankruptcy.
Our firm makes the extra effort to educate you about the benefits of bankruptcy
and how they might apply to you. No matter what you are facing, we are
on your side!
Bankruptcy Offers Tangible, Long-Term Benefits
Many clients experience a feeling of great relief after filing for bankruptcy.
The knowledge that you are not alone in your debt and can finally begin
getting back on your feet is powerful. However, beyond just a sense of
relief, there are numerous practical benefits to bankruptcy, as well.
Some of the biggest advantages to filing for bankruptcy include:
Filing a petition for
Chapter 7 or
Chapter 13 triggers the automatic stay, which effectively stops all debt collection
efforts by creditors, including phone calls, repossession, foreclosure,
- Numerous debts are removed through discharge upon filing.
- Many debtors can go through the process of bankruptcy without losing any
of their property by way of bankruptcy exemptions.
Credit scores can begin improving as soon as you file because outstanding debt has been
eliminated from credit reports.
Take Advantage of Your Free Consultation!
While there are many significant advantages to bankruptcy, whether it is
right for you depends on your particular situation, the type of debt you
have, and how much property you want to protect. Our knowledgeable Chicago
bankruptcy lawyer can help you determine the best debt relief option for
you in a free
case evaluation with our firm.
Get in touch with Smith Ortiz, P.C. today for dedicated and compassionate assistance with bankruptcy matters.