Debt Relief for the Chicago, Illinois, MetroArea
An accumulation of debts or foreclosure can leave you full of questions as you search for debt relief. You may think you bring in too much income to file for bankruptcy. John H. Redfield & Associates can evaluate your situation and provide the answers you seek.
Chapter 13 bankruptcy is designed for individuals or husbands and wives. It may be the right choice for people who need to repay tax debt or want to save their house, but have too many assets or have too much income to file a Chapter 7. Filing a Chapter 13 proceeding or any other proceeding immediately stops foreclosures and any other creditor action.
At John H. Redfield & Associates you will benefit from our more than 30 years of experience with bankruptcy law. As a former bankruptcy trustee, John Redfield knows both sides of the debtor-creditor relationship. Using his knowledge of a creditor’s wants and needs, he more effectively helps resolve your financial problems.
Contact attorney John H. Redfield for legal assistance with debt relief.
Accumulating debts can leave you feeling as if you have lost control over your life. Filing for Chapter 13 bankruptcy may reestablish financial control. When you file for Chapter 13 bankruptcy, your debts are reorganized. Some payments may be consolidated. This reorganization of your debts decreases your overall monthly bills and prevents the loss of your real estate. You may be able to “strip off” mortgages on your residence if the amount of your first mortgage clearly exceeds the fair market value of your residence. It may be necessary to hire a qualified real estate appraiser to accomplish this in court.
At the time of filing for bankruptcy, you will be required to establish a repayment plan. Typically, this plan requires you to pay back your debts in whole or in part over three to five years.
At John H. Redfield & Associates you will receive personal attention to your debt relief needs. Your case will be handled by an experienced attorney, not by a paralegal or recent law school graduate. The worst thing you can do is wait. Contact an experienced Bankruptcy attorney today.
A recent client of Redfield & Associates wanted to reduce the monthly payments under their 100% chapter 13 plan case because all the creditors did not file claims by the bar date. The chapter 13 trustee objected to the extension because they wanted the case to conclude faster for the benefit of the creditors. Based on Attorney John Redfield’s argument and legal authority, the court allowed the extension resulting in reduced monthly payments and an extension of the maximum time limit to complete the plan (60 months rather than 36 months). Read more and see the Judge’s published opinion – Redfield Sets Precedent in Chapter 13 Bankruptcy.
John H. Redfield and Associates is ready to help you get relief from the burden of uncontrollable debt, so contact a bankruptcy attorney today for your own personal consultation.