When you are in financial trouble, contacting a bankruptcy attorney and filing a Chapter 13 or Chapter 7 bankruptcy in Warrenville may be your best bet. How much of a balance do you have on your credit card? Are you making more than the minimum payment each month? Are you making the minimum? Are you making a credit card payment every month? With unemployment still high and foreclosures decreasing only slightly, countless Illinois residents are ignoring their credit card bills. Most of the time minimum credit card payments are not made because people struggling to make ends meet have to use their money for necessities such as rent, food, or utilities. Consequently, thousands of individuals are in desperate need of relief from debts.
Financial problems affect every aspect of a person’s life. When an individual is under stress, he is more vulnerable than a person who is not under pressure. When that stress is caused by financial pressure, he is even more vulnerable … and desperate for a way out. Many people try to avoid bankruptcy because of the stigma associated with it and so they look for options outside of filing a Chapter 7 bankruptcy in Warrenville.
There are many shady organizations out there who pose as credit services and who take advantage of people when they are their weakest and at their most vulnerable. Keep in mind that to file Chapter 7 bankruptcy in Warrenville usually requires credit counseling at a federally approved nonprofit credit counseling agency, not an agency out to make a quick buck. Your bankruptcy attorney will know which agencies are reputable and which should be avoided.
Today, an individual’s credit score is excessively important. Without a good credit score, obtaining a loan or even applying for an apartment, and in some cases a job, may be extremely challenging. If you have a credit score below 700, in many cases you can be denied for loans or credit cards. Many people believe that improvement of their credit scores translates to permanent relief from debt and seek assistance in a credit organization. Generally, this will result in only a partial solution.
In most cases, the services offered by credit service organizations can be performed by an individual for free. However, many people do not know where to begin to restore their credit. In many cases, credit intervention is not a big enough solution to the financial dilemma the individual is in. In cases such as these, filing for bankruptcy is a better solution. It is important to keep in mind that although individuals can file for Chapter 7 bankruptcy in Warrenville by themselves, it is a far better idea to hire a bankruptcy attorney who is experienced with bankruptcy cases and can eliminate the risk of mistakes in filing the complicated bankruptcy paperwork.
Chapter 7 bankruptcy Warrenville – Credit counseling may improve your credit score, but sometimes a credit score is not enough to get you out of dire financial straits. If you think you may need to file Chapter 7 bankruptcy in Warrenville, call Chicago Debt Solutions at 312-445-9106.
