Bankruptcy Lawyer Lake County
Helping Clients Find Financial Relief through Bankruptcy in Lake County
If you are overwhelmed by debt and see no way out of your situation, bankruptcy can be a financial lifeline. However, facing the possibility of bankruptcy can be stressful, and you likely have many questions and concerns. It is important to know that the Law Office of Kevin M. Schmidt is ready to help you weigh your options and decide whether bankruptcy is right for you.
Our law firm has helped many clients find relief through Chapter 7 and Chapter 13 bankruptcy, and we handle every step of the bankruptcy process, from the initial decision to file to the resolution of your case. Many of our clients are also under the pressure of garnishments, vehicle repossessions, and/or home foreclosures, and we can address all of these issues. You do not have to face the bankruptcy process alone, so contact our office today to schedule your free case evaluation with a bankruptcy lawyer in Lake County.
Is Bankruptcy Right for You?
Before we take any steps forward in the bankruptcy process, we will help you carefully consider whether bankruptcy is the right move for you and your household. There may be other more beneficial debt-relief options depending on your circumstances. We will review how bankruptcy works and the impact a bankruptcy will have on your credit and future financial situation.
If you decide to file, we will then discuss which type of bankruptcy is the right choice. There are two main types of consumer bankruptcy:
- Chapter 7 – This “liquidation” or “straight” bankruptcy involves relinquishing certain nonexempt property in return for the discharge of your qualified debts. This is a faster process, though not everyone qualifies.
- Chapter 13 – This “reorganization” bankruptcy requires you to enter into a three to five-year repayment plan, which will involve a single monthly payment based on your income. At the end of your plan, you can obtain a discharge of your remaining debts.
Our firm works to ensure that each client pursues the right financial solution for their specific situation.
Navigating the Bankruptcy Process in Lake County
Like any legal case, bankruptcy involves many different laws, deadlines, and requirements. There are also potential penalties for noncompliance or missteps in your bankruptcy case. You always want to have the right bankruptcy attorney guiding you every step of the way. We will prepare and file all of your paperwork, represent you in bankruptcy court and with the bankruptcy trustee, and more.
Do Not Wait to Contact an Experienced Bankruptcy Lawyer in Lake County
Our legal team understands the concerns that come with filing for bankruptcy, but we have also seen firsthand the many benefits bankruptcy can provide for our clients. We will ensure you know every possible implication of bankruptcy, both good and bad, and that you are confident in your decision to proceed with a case. Kevin M. Schmidt, Attorney at Law, will lead you through the bankruptcy process, so you can obtain a discharge of your debts and move forward with your life. Contact us to schedule your free consultation with a Lake County bankruptcy attorney.