Law Offices of Robert M. Kaplan, P.C.
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When Filing for Bankruptcy May Not Be the Best Option

Person on computer holding credit card | Attorney | Rolling Meadows

If you have debts you are struggling to pay, you might have considered bankruptcy. Bankruptcy has serious consequences, and it should not be a decision that is made lightly. It will stay on your credit report for up to a decade, which will make it difficult for you to obtain loans or rent an apartment. It could even impact your ability to get a job as some employers now run a credit check on potential hires. You should also keep in mind that a bankruptcy will not discharge all debts; child support, student loans, and most taxes will generally not be discharged with a bankruptcy.

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Tactics for Filing Bankruptcy

Person Holding Clipboard | Bankruptcy Rolling Meadows IL

If you are considering filing bankruptcy, you should first consider whether or not bankruptcy will turn out to be an advantage in your situation. Decide first whether other options, such as negotiating with your creditors, would more advantageous for you. If you think bankruptcy might be your best option, you should contact a bankruptcy lawyer in Schaumburg who can give you solid advice for what is involved in the process.

Things to Consider Prior to Filing Bankruptcy

First, you need to decide which type of bankruptcy best fits your needs and your situation. There are two types that most people file: Chapter 7 or Chapter 13. With Chapter 7, ...

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Signs You May Need to File for Bankruptcy

Woman using calculator | Bankruptcy Lawyer Hoffman Estates

Bankruptcy has lost a lot of its stigma in recent years, and it seems like everyone from big corporations to mainstream celebrities is filing for bankruptcy. Even so, filing for bankruptcy is still a major decision that shouldn’t be taken lightly.

If you are in financial trouble, how do you know if filing for bankruptcy is the right decision for you? Let’s take a look at some of the signs you may need to file for bankruptcy.

You Can’t Keep Up With Your Bills

You've depleted your savings and are considering cashing out your retirement savings to pay your bills. You're living on credit cards and your debt increases rather ...

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How to Prepare for Your Bankruptcy Consultation

Calculator with spreadsheets | Bankruptcy Attorney Schaumburg IL

Filing bankruptcy can be stressful, which is why attorney Robert M. Kaplan is devoted to making sure you are informed and prepared for the bankruptcy process. Knowing what to expect during your bankruptcy consultation will help you to be better prepared which will allow your attorney to have a better idea of your situation and how to help you.

What to Bring

There are several documents you will want to bring with you to your bankruptcy consultation. It is important to have a complete list of all your debts including how much they are and who they are too. You should also bring bills (both current and delinquent), assets and their ...

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Filing For Bankruptcy

1040 with calculator | Schaumburg IL Bankruptcy Lawyer

Having excessive debt can do a lot of damage to your credit score, but for some, bankruptcy may actually be more helpful than harmful to their credit. There are many types of bankruptcies to help you get ahead of your debt and back on the road to recovery. At the Law Offices of Robert M. Kaplan, P.C. we can walk you through the bankruptcy process so you can get out from under years of debt.

Your Options

  • Chapter 7 – Chapter 7 bankruptcy is the best option for those with a lot of credit card, medical, or non-collateral debt. While some of your property may be seized to help pay off ...

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