Here are some general steps to consider if you’re looking to eliminate debt through bankruptcy:

1. Consultation with a Bankruptcy Attorney:

   • Schedule a consultation with a qualified bankruptcy attorney to discuss your financial situation.
   • The attorney will assess your eligibility for bankruptcy and help you determine whether Chapter 7 or Chapter 13 bankruptcy is more suitable for your case.

2. Bankruptcy Filing:

   • If you decide to proceed, your attorney will help you file the necessary bankruptcy paperwork with the bankruptcy court.

3. Automatic Stay:

   • Upon filing, an automatic stay goes into effect, preventing creditors from pursuing collection actions against you.

4. Credit Counseling:

   • Before your bankruptcy case is finalized, you may need to complete a credit counseling course.

5. Meeting of Creditors:

   • Attend the meeting of creditors, where you’ll answer questions about your financial affairs. This meeting is typically conducted by the bankruptcy trustee.

6. Debt Discharge:

   • If your case is successful, eligible debts may be discharged, meaning you are no longer obligated to pay them.

It’s important to note that bankruptcy has long-term financial and credit consequences, and not all debts may be dischargeable. Additionally, there may be alternatives to bankruptcy, such as debt consolidation or negotiation, which you may want to explore with the guidance of a financial advisor.

Always consult with a qualified attorney to get advice tailored to your specific situation.  Use Leeders Law for help in Westlawn – Chicago Guidance on Bankruptcy and Debt Relief. 

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