Information About Bankruptcy Alternatives from Our Springfield Lawyer
We Will Never Push You Into Filing a Bankruptcy Petition
Michael J. Logan, Ltd. · Springfield, Illinois
More Than 3 Decades' Experience as a Bankruptcy Attorney
Call 866-258-6719 or E-Mail
Bankruptcy is not the only way to deal with a financial crisis, and we are not a law firm that pushes clients into filing for bankruptcy just so that we can collect legal fees. The law office of Michael J. Logan, Ltd., has built a reputation as an ethical law firm that offers honest and practical advice to clients who come to us for advice during difficult financial times.
Alternatives to Filing a Bankruptcy Petition
One of the major benefits of consulting with an experienced lawyer about your legal options during a financial crisis is that your attorney will explain to you all the different paths you can take to respond to the crisis. These options will include bankruptcy, as well as alternatives to bankruptcy.
Your lawyer will also discuss with you the importance of timing when deciding whether to file a bankruptcy petition or take advantage of one of the alternatives to bankruptcy. For example, if you are about to undergo a medical procedure, it may be better to wait to file bankruptcy or take advantage of a bankruptcy alternative until after the procedure is complete.
Alternatives to bankruptcy include:
- Negotiation of a mortgage modification to reduce the interest rate or principal of your home loan, to ward off foreclosure proceedings
- Negotiation of a short sale of your home, where the bank agrees to accept the sale price of your house as full payment of your mortgage even though the sale price may be less than the amount you owe
- Negotiation of a deed in lieu of foreclosure agreement, where your mortgage lender agrees to take back ownership of your home rather than institute foreclosure proceedings
- Negotiation of a voluntary repayment plan with your credit card companies or medical bill collection companies
Learn More · Schedule a Free and Private Consultation
At the law office of Michael J. Logan, Ltd., we understand that people often delay seeking legal advice about financial problems due to shame or embarrassment about sharing financial details with a stranger. We do not want our clients to wait to get legal advice. For that reason, we offer a free and confidential case assessment. Individuals may complete a private intake form and receive a complimentary and in-depth assessment of their legal options by attorney Michael J. Logan.
To make an in-person appointment with Mr. Logan to discuss your financial circumstances, call our office toll free at 866-258-6719.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.