Illinois Debt Relief Lawyer
Many people are struggling with unpaid credit card or medical debt, are suffering from wage cutbacks and job layoffs, or have recently divorced. Many people in the Chicago area invested in rental properties with the goal of achieving a steady income stream for their retirement years. If you are thinking about declaring bankruptcy, you are in good company. According to the U.S. Bankruptcy Court, more than one million Americans made a fresh start through Chapter 7 bankruptcy between March 31, 2009 and March 31, 2010.
At Thinking Outside The Box, Inc., in Warrenville, Illinois, we provide customized solutions to consumer and business clients seeking relief from bankruptcy. We take the time to listen to your story in a free initial consultation — how you got into debt, what your personal circumstances are, and how much you owe.
Then we explain how Chapter 7 bankruptcy works, what forms you need to fill out, and how long the process takes from start to finish. Our goal is to answer your questions about bankruptcy and help you achieve a fresh start as soon as possible. To schedule a free initial consultation with a qualified bankruptcy attorney, call 888-777-4193 toll free or 630-333-9589.
Filing for Chapter 7 Bankruptcy
If you decide to file for Chapter 7, you will turn non-exempt assets such as fine art or a baseball card collection over to a trustee, who will sell them to help pay off debts. When you file for bankruptcy, a Bankruptcy Court judge issues an automatic stay, which prohibits creditors from contacting you for payment and stops wage garnishment.
A Bankruptcy Court judge discharges or eliminates remaining debt, such as payments owed for a car repossession, and you are officially debt free. You may not re-file for bankruptcy for a number of years, but may begin to rebuild your credit right away.
Assets such as the family home, one vehicle and retirement accounts are usually considered exempt, and would not be turned over to the trustee for sale.
We Like to Diagnose, and Then Prescribe
We listen to our clients and outline possible solutions. To schedule a free initial consultation with a Warrenville Chapter 7 bankruptcy attorney, contact us, or call 630-333-9589 or 888-777-4193 toll free.