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Chapter 7 Bankruptcy Attorney

A fresh financial start. Eliminating Debt, Rebuilding Your Credit

What is bankruptcy?

Bankruptcy is probably one of the most misunderstood legal terms. For example, in board games, bankruptcy is synonymous with losing and the end of the game. The fact is, bankruptcy is not the end, it's a new beginning. Simply put, bankruptcy is a process to help protect people who have financial obligations that simply cannot be met. In Chapter 7 bankruptcy, also called a "liquidation" bankruptcy, the law states that your assets may be sold to help pay off your debt. The reality is, that almost never happens as the exemptions offered by the State of Illinois protect your home, your car(s) in most cases and retirement accounts like IRAs and 401(k)s. The end result for most people who qualify for Chapter 7 bankruptcy is that they leave their credit card and medical debts behind them and are allowed to significantly improve both their short and long term financial situation.

What causes most people to file bankruptcy?

In the current state of the market, more and more people are facing financial difficulty. Issues such as job loss, limited income, high credit card bills or medical bills have become more prevalent. The inability to pay bills can lead to even worse and more stressful circumstances like foreclosure, a car being repossessed and/or wage garnishments.

How does bankruptcy help?

A successful Chapter 7 bankruptcy will eliminate credit card bills, medical bills and personal loan debts and can stop foreclosure, repossession and wage garnishments. The fact is, if you're having trouble making minimum payments to either a high-interest rate credit card or overwhelming medical bills, it is likely affecting your entire financial situation. It makes it harder to pay your mortgage and stay current on your car payments, and meet every other financial obligation you face in a month. When you discharge or eliminate your debt, suddenly your monthly financial obligations look much more manageable and you can turn things around.

How Long Does The Bankruptcy Process Take?

It's different for everyone, but if you are eligible to file for a chapter 7 bankruptcy, you will likely receive your discharge and a fresh financial start in just a few months.

Will my Friends and Family Find out if I file Bankruptcy?

More than likely the answer is No. Even though Bankruptcy is a public proceeding unless you are a celebrity or other high profile person it is unlikely that anyone will ever know that you filed bankruptcy unless you tell them. While we cannot guarantee that your bankruptcy will be a secret, there is a very good chance that no one will ever find out.

As a Midlothian, Illinois, debt relief lawyer, I can help handle your bankruptcy, or your debt case. I will work hard to ensure that you receive a second chance at a better financial life.

Bolingbrook Chapter 7 Bankruptcy Attorney Serving Aurora, Orland Park, Oak Forest, Oak Lawn, Naperville and Surrounding Cities

If you make less than the median income for your area, you may qualify for Chapter 7 bankruptcy. This typically translates into payments less than $6,000 toward your debt over the course of five years. As an experienced bankruptcy attorney, I have helped numerous clients throughout the process of filing for chapter 7 bankruptcy. I have helped clients keep their homes and cars and have issues such as wage garnishments removed.

Contact an Oak Forest, Illinois Lawyer Today

If you are seeking legal representation or need further information about how to file for Chapter 7 bankruptcy, contact me at 708-687-8000 today. I will analyze your specific situation and provide valuable information.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.