Chicago Bankruptcy Lawyers
If you are struggling to meet your financial obligations, don't rule out bankruptcy as an option because you fear that you will permanently ruin your credit. Contrary to popular opinion, there is life after bankruptcy. In most instances, a personal bankruptcy filing will be viewed favorably by potential creditors, as they can see that you have decided to take action to resolve your financial problems.
At the Debra Levine Law Offices, we have represented individuals in personal bankruptcy filings since 1996. Our attorneys view personal bankruptcy as more than just a chance for a fresh start: We see it as the initial step in a new financial direction, one designed to provide you with a more secure financial future. In more than 14 years in practice, we have successfully worked with thousands of people in Chapter 7 and Chapter 13 bankruptcy proceedings.
Bankruptcy and Your Credit Report
It's a common myth that a personal bankruptcy filing will permanently ruin your credit. In most instances, you will be eligible for a mortgage in about 24 months, and will start to receive credit card opportunities almost immediately. If you file for protection under Chapter 7, you will permanently discharge some of your debts, reducing your debt to income ratio, which can improve your credit rating.
In addition, many potential creditors will look upon the act of filing as a positive step. Rather than letting your situation stay the same or get worse, you took the necessary action to move forward. While your bankruptcy will stay on your credit report for up to 10 years, so will your prior financial problems. When considering issuing credit, lenders are more interested in what you have done lately. If you file for bankruptcy, then effectively manage your debts, your credit history will become just that — history.
Contact Our Office
We offer a free, initial consultation to all clients. To arrange an appointment to discuss rebuilding credit after Illinois bankruptcy, contact us by e-mail or call our office at 312-957-8408 (toll free at 866-832-0854). Our phones are answered 24 hours a day, seven days a week. Evening and weekend meetings can be scheduled, upon request. We charge affordable rates for all legal services.
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We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
