Asset Protection in Illinois
Guarding necessary items from repossession and liquidation
You thought that your life was secure. But job loss, divorce, sudden illness or economic turndown can change everything in a heartbeat. Suddenly, your finances are strained and you miss a payment or two. Your creditors are threatening to foreclose on your house, repossess your car and garnish your wages. You need someone by your side to help you. Our bankruptcy lawyers in Chicago can help stop foreclosure and wage garnishment and get back your repossessed property.
No one wants to lose their assets after spending so many years paying for them. But that's just what happens when you default on your payments. Typically people take out loans to pay for items like houses and cars, agreeing to repay them in installments until the items belong to them. Under these contracts, when you default on a payment, the home or car is "collateral" that the creditor is entitled to repossess. Creditors can ruin lives through repossession — literally taking the roof over your head.
If you are in debt and want to protect your assets, you have various options. But the solution that takes care of all of your debts is bankruptcy. Contact our asset protection firm in Chicago to learn more about it. Chapter 13 bankruptcy lets you restructure your debts to make more reasonable payments, so that you never have to worry about creditors repossessing your assets. If you want to get rid of your debt quickly and feel certain that your assets would be exempt, you might also consider Chapter 7 bankruptcy. Chapter 7 liquidates any asset that is non-exempt and uses the proceeds to pay off creditors.
Talk to our Chicago asset protection attorneys about the best way to protect your assets through bankruptcy.
Contact DebtStoppers today to safeguard your property!
Don't let creditors take away your most valuable possessions. Give DebtStoppers a call at 312-913-0630 and schedule a free consultation with a debt relief attorney. Or go online, fill out our simple online form and find out whether bankruptcy is the solution for you.