A Chicago Bankruptcy Lawyer Explains Your Options

One of the biggest advantages of working with a qualified Chicago bankruptcy attorney is that you get professional help when discerning which variety of bankruptcy works best for your financial situation. What follows is a brief overview of your bankruptcy options, including personal bankruptcy, corporate dissolutions, assignments for the benefit of creditors, and a Chapter 11 reorganization:

Chapter 7 Bankruptcy

When most people think of bankruptcy, Chapter 7 Bankruptcy is often what they're envisioning, which is the most popular chapter. When the stress of personal financial problems begins to take a toll on you and your family, it's time to discuss your options with a qualified Chapter 7 bankruptcy lawyer.

Chapter 7 bankruptcy seldom results in the liquidation or sale of your assets. In fact, most of your debts can be discharged, and you can enjoy the freedom of a fresh financial beginning. Immediately upon filing for a Chapter 7 bankruptcy, creditors will no longer be able to harass you for payment. The subsequent peace of mind sets the stage for a debt-free future where the stress of out of control debt is fully curtailed.

We treat every client with the individualized care and attention they deserve. That means, your Chapter 7 case will be handled by one, single bankruptcy lawyer throughout the entire process. You won't be shuffled to a paralegal or a recent law school graduate, you will be represented by an attorney with more than 30 years of experience dealing with cases just like yours.

In this way, we offer true value for the money you spend to retain a bankruptcy attorney. It also means that a knowledgeable legal professional will help you determine:

Whether Chapter 7 bankruptcy or Chapter 13 bankruptcy case is best for your situation

If it's possible to keep your house (It will depend on the your home's equity amount)

Whether you can keep your automobile (You usually can)

Whether you pass the Means Test