Downers Grove Bankruptcy Attorney On The First Step

When people are struggling with debt, what they really want is a fresh start.  Chapter 7 bankruptcy provides that fresh start in over 75% of the bankruptcy cases that are filed throughout the United States.  Chapter 7 is the perfect case for someone who has very little in the way of assets and who may have a time of unsecured debts such as medical bills, credit card bills, personal loans, utility bills.  That person can eliminate the debt, keep whatever miscellaneous, minor property he or she has and get on with their life with a fresh financial start. 

Now, there are some debts that are not eliminated in a Chapter 7 and those include recent taxes, student loans, parking tickets, child support, alimony, maintenance and debts incurred by fraud.  However, for the overwhelming majority of people who filed Chapter 7 bankruptcy, the debts are illuminated. 

The way to start under a Chapter 7 bankruptcy case is to schedule an initial consultation with a bankruptcy attorney in your local area.  The bankruptcy attorney will ask that you fill out a bankruptcy questionnaire which lists all of your information concerning your assets, your liabilities, your property and your debt.  The bankruptcy questionnaire also lets the bankruptcy attorney know what you have in terms of property, what you have in terms of debts and what your overall financial picture looks like.  It is from that questionnaire that the bankruptcy attorney can then advise you as to whether or not a Chapter 7 is a good option for you or whether Chapter 13 is a good option for you.