Chicago Bankruptcy Lawyers & Attorneys

When you file bankruptcy, you will have to list all the people that you owe money to. This includes family members; this includes creditors that you wanted to keep, even your American express card. I often get asked can people list utility bills on their bankruptcy, and the answer is “yes”. If you are past due on the utility bill, you want to list that in your bankruptcy. Here’s why; anything that you owe prior to filing will be eliminated. Anything that you accrued from the date of filing forward, you will owe. So you can wipe out a significant amount of past due utility bills. Now, the utility company might require that you pay a security deposit, which is typically one and half times the normal month going forward to ensure you make future payments. But, if you are behind more than that on several utility bills, it is very wise to put those in your bankruptcy and get the best fresh start you can. Remember, anything you owe on an unsecured utility debt on the date of filing and going backwards, is eliminated. Anything you accrued from the day of filing forward you are on the hook for. So, since you are only going to be filing bankruptcy this one time hopefully, get the biggest bang for the buck, get the best fresh start you can, and list those utilities. I don’t care if it’s ComEd, Nicor, the garbage or the water bill. List those utilities if you are behind and get a great fresh start going forward. Please remember to make all of your required payments, on time, going forward.