Gurnee Bankruptcy Attorney David Siegel Waxes About Debt Relief

The Chapter 7 case will commence with the filing of the Chapter 7 petition and it will conclude with the receipt of a Chapter 7 discharge order which comes directly from the clerk states Gurnee bankruptcy attorney.  The amount of time between a Chapter 7 filing and the Chapter 7 discharge is approximately 110 days.  There are certain circumstances where that timeframe might be extended either by the trustee or the US trustee on a motion for court.  However, if nobody files a motion and nobody objects to the debt, then there will be a discharge within 110 days. 

If you are like most people, you probably think that filing bankruptcy is the end of the world for you.  You probably think that you will never get credit again.  You probably think that you will never be able to own a home or even finance a vehicle.  You probably think that your credit is going to be messed up for the rest of your life.  You may even wonder if you are going to be able to rent an apartment.  Let me put all your fears to rest with regard to filing for bankruptcy. 

Chapter 7 bankruptcy is not the end of your life; in fact, it might be the best decision that you ever make in your life.  Picture this scenario, you are overwhelmed with debt.  You have thousands of dollars’ worth of credit card bills, medical bills, personal loans and other debts for other kinds of services.  You are barely getting by with what you are bringing in from your job after you pay your regular monthly expenses such as rent, car, food and utilities.  Every single month you are not able to catch up on your debt and you are forced to make minimum payments.  You are also forced to endure creditor harassment via the phone, via letter, via lawsuits, garnishments, make citations and other collection mechanisms.

In the matter of 24 hours, you can find a bankruptcy attorney who can turn your whole financial life around.  You can go from being in debt to being out of debt practically overnight.  The minute your Chapter 7 bankruptcy case is filed, there is something called an automatic stay which is created by operation of law.  What is automatic stay is a one-page document that basically states that your case has been filed and that creditors cannot take certain actions against you.  If a creditor violates the automatic stay and attempts to collect a debt, then that creditor could be sanctioned by the bankruptcy court. 

Think of the scenario where someone is tremendously in debt one day and completely out of debt with a fresh start the very next day.  How in the world can that be a bad decision in someone’s life?  How in the world cannot be a decision that they are going to regret when they just got out of debt and got a fresh start?  The truth is, it’s not a decision that they are going to regret.  Most people who file bankruptcy through my office state that they wished they would have done it sooner.  They wish they didn’t waste months or years trying to pay back debt which was impossible to pay back.  They languish over the fact that the creditors did not work with them.  The creditors did not lower the interest rate or help move some of the late fees to the back.