Wonais Law, LLC Legal Blog
Reasons To File Chapter 13 Bankruptcy
Posted in: Bankruptcy Law, Chapter 13 Bankruptcy Law
Chicago Bankruptcy Lawyer Filing for bankruptcy can be scary and is never an easy decision to make. Unforeseen things happen in life causing people to fall behind on bills and payments. If you are overwhelmed with debt or facing financial difficulties, we are here to help. The Bankruptcy Code was enacted to help people in […]
Chapter 7 Bankruptcy: An Overview
Posted in: Bankruptcy Law, Chapter 7 Bankruptcy Law
If you are facing financial difficulties and struggling to make ends meet, filing for bankruptcy may be your best option to help you get back on your feet and eliminate your debt. Chapter 7 bankruptcy is the most common type of bankruptcy that allows you to discharge your unsecured debt, such as credit card debt and medical […]
Your Bankruptcy 341 Meeting: What To Expect
Posted in: Bankruptcy Law
If you have decided to file for Chapter 7 or Chapter 13 bankruptcy, you will be required to attend a meeting after your case is filed. This mandatory meeting is called a 341 meeting, or a meeting of creditors, which is required under section 341 of the U.S. Bankruptcy Code. There is no need to stress out about the meeting, […]
Bankruptcy Discharge: An Explanation From Our Chicago Bankruptcy Lawyer
Posted in: Bankruptcy Law
What is a Bankruptcy Discharge? When you file for either Chapter 7 or Chapter 13 bankruptcy, the underlying goal is to complete your case and receive a bankruptcy discharge. Once a discharge order is entered in your case, you are no longer personally liable on any debt eligible for discharge in your case. This means, you no longer owe your […]
The Differences Between Chapter 7 And Chapter 13 Bankruptcy
When potential clients call our office, the two most common questions they ask are which type of bankruptcy they should file and what are the differences. In general, as a consumer, the United States Bankruptcy Code offers two different kinds of bankruptcies – Chapter 7 and Chapter 13. Although both are designed to give debtors a “fresh start,” […]