Bach Is Your Financial Future.
555 Skokie Blvd., Northbrook, IL 60062
Many people believe bankruptcy is a life-changing decision that can permanently damage their reputation and credit history. While it is true that you should not take declaring bankruptcy lightly, the idea that it will ruin your credit for the rest of your life is just one of several common myths. Bankruptcy exists to help people overcome their crippling debt and get a fresh start to their lives, helping them to restore their credit score and reputation with lenders and creditors.
Bankruptcy ruins your credit.
Declaring bankruptcy impacts your credit, yes, but “ruining” it could not be further from the truth. Bankruptcy is a tool designed for helping those stuck in overwhelming debt to restore their credit by giving them a clean slate. While declaring bankruptcy stays on your record for several years, some people actually see an immediate improvement in their score after filing.
Only bad people file for bankruptcy.
Most people who file for bankruptcy are not bad or irresponsible people, just good people who have fallen on hard times through one or two bad breaks. A serious illness, a car accident, or a natural disaster can all place someone under significant financial stress that they may not be able to recover from. We always treat every client with the utmost professionalism and provide respectful and discretionary service.
Anyone can file for bankruptcy.
Bankruptcy is not a solution available for everyone. You must meet eligibility requirements, such as the means test for Chapter 7, or have enough disposable income for a debt reorganization by Chapter 13. If you do not qualify, you may wish to look into a bankruptcy alternative that can help you with your debt.
Bankruptcy alleviates all debt.
Certain types of debt are mostly immune from declarations of bankruptcy, most notably student loan and tax debt. Certain rare circumstances will allow you to alleviate these types of debt with bankruptcy, but they are extremely infrequent. Speaking with a lawyer can provide you with a better picture of which of your debts do and don’t qualify for relief via bankruptcy.
At the Bach Law Offices, our attorneys have more than 35 years of combined legal experience putting the law to work protecting consumers. We understand the complicated and stressful nature of bankruptcy cases, and we work diligently to help those impacted by the weight of crippling debt to restore their lives by giving them a fresh start. We can help you navigate through your case and make facing the intimidating bankruptcy process easier with effective and reputable legal counsel.
Schedule a free in-person consultation with the Bach Law Offices at (847) 448-0025.
“There is not enough room here to say all that could be said about Penelope. She represented me in a bankruptcy that many other lawyers say could not be done.I do not exaggerate when I say that she saved my way of life.”