Get a second chance to control your finances by erasing debt with Stephens Fiddes McGill and Associates, P.C. bankruptcy lawyers in Pekin IL. Dedicated attorneys with the experience and advice you need can help you get a second chance. To many people, bankruptcies are bad things. However, that is a common misconception. In fact, you can use bankruptcy as a tool to regain control of your finances and your life. If you are feeling overwhelmed by debt, our lawyers can help.
We can help you with a Chapter 7, Chapter 11, or Chapter 13 bankruptcy. Our firm has gained the recognition for being one of Central Illinois’ top 3 law firms five times. All our clients get treated with compassion, dignity, and respect. Many lawyers handle bankruptcy cases. However, not all of them contain the experience and focus on each individual case like ours do.
Give us a call now at 309-637-LAWS or contact us online to discuss your case. Our law firm will always answer your questions and return calls. Plus, our attorneys will make your case as important to us as it is to you.
Chapter 7 bankruptcy works for many individuals looking to eliminate unsecured debts. So, debts such as personal loans, credit card debt, and unpaid medical bills will get discharged in bankruptcy courts. On the other hand, child support, student loans, alimony payments, and tax debt will not get discharged in virtually all cases. Therefore, anyone with limited assets and overwhelming unsecured debts should speak with one of our bankruptcy lawyers in Pekin IL.
Chapter 7 bankruptcy offers the fastest and easiest bankruptcy solution. However, recent bankruptcy court results indicate that just 55.6% of self-represented bankruptcy filers won their case. On the other hand, attorney-represented filers won their bankruptcy case 94.1% of the time. Why is that? Most self-represented filers do not understand all the requirements that need to be met.
Chapter 11 bankruptcy works best for businesses or individuals with lots of assets who are struggling with debt. These bankruptcies essentially reorganize debt. As a result, many companies use Chapter 11 bankruptcy to maintain operations, restructure finances, and earn enough profit to pay bills.
These bankruptcies are less frequent with individuals because they last longer and are more expensive. In some cases, these sorts of bankruptcy cases will not get a resolution for many years. However, couples filing jointly on their taxes with significant assets may find benefits to Chapter 11 bankruptcy that other forms do not offer. If you have a question about Chapter 11 bankruptcy, get the answers you need from our bankruptcy lawyers in Pekin IL.
Chapter 13 bankruptcy commonly gets referred to as the “Wage Earners Bankruptcy.” If you have fallen behind on your credit card payments despite making money, Chapter 13 bankruptcy could work for you. You can use this form of bankruptcy to reorganize your debt. In addition, it will schedule a payment plan for you. In many cases, you can maintain ownership of your home if you meet the payment arrangements established in bankruptcy court. This form of bankruptcy will use all disposable income to pay off debt in 3 to 5 years.
Stephens Fiddes McGill and Associates, P.C. lawyers will put years of experience to work for you to present the best possible case. Consequently, they can bring the results you deserve. In addition to bankruptcy law, we also specialize in criminal law, family law, personal injury law, probate law, real estate law, social security disability law, traffic law, and workers compensation law. Email us at info@smlegal.com or call 309-637-LAWS to discuss your case in a free consultation.
