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If you are considering filing for bankruptcy, you’ve come to the right place. At DebtPros, we provide thorough, aggressive legal representation to consumers and businesses facing financial difficulties. Our experienced bankruptcy lawyers in Chicago will carefully listen and advise you on the best path to financial freedom. You are just one call away from receiving a free consultation – no strings attached! Contact us now at (312) 883-5422.
There are numerous things to consider when deciding whether you should file for bankruptcy. Unlike other law firms, our attorneys will not push you into filing for bankruptcy. Instead, we will carefully evaluate your unique circumstances and determine if bankruptcy is right for you. As a consumer, you can file for either Chapter 7 or Chapter 13 bankruptcy. As a business, you can file for either Chapter 11 or Chapter 7 bankruptcy. Each chapter of bankruptcy is different and serves specific purposes, which is why it is important to speak with an experienced bankruptcy lawyer in your area.
Chapter 7 bankruptcy is the most common form of bankruptcy filed by consumers. In Chapter 7, you can discharge, or eliminate, your unsecured debts (including, credit card debt, payday loans, repossessions, medical bills, and even sometimes tax debt). You can also keep your property, such a car or house, if there is no equity in the asset. A Chapter 7 bankruptcy typically lasts 4-6 months and involves attending one meeting of creditors after your case is filed. Not everyone qualifies for Chapter 7, however. For instance, to file Chapter 7, you must pass the “means test” which looks at how much money you made the 6 months prior to filing. When you hire DebtPros to review your case, your bankruptcy lawyer will help determine whether you qualify for Chapter 7.
Chapter 13 bankruptcy is a reorganization and repayment of your debt over a 3–5 year period. Unlike in Chapter 7, in Chapter 13 you keep all your property and can even file if you do not qualify for Chapter 7. Chapter 13 is most commonly used to save a house from being foreclosed on or a car from being repossessed. Once the case is filed, a Chapter 13 plan is proposed which lays out how much you are going to repay your creditors. Due to the complexity of filing for Chapter 13, it is important you hire an attorney with experience in filing Chapter 13 cases in Chicago. Having represented thousands of clients in Chicago filing for Chapter 13 bankruptcy, we have the familiarity and knowledge needed to ensure you successfully complete your case.
If you are struggling to pay your bills or simply tired of harassing calls from creditors, filing for Chapter 7 or Chapter 13 bankruptcy may be your best option. Once a bankruptcy case is filed, creditors are no longer permitted continue any collection activities. This means no more phone calls, garnishments, lawsuits, or threats to repossess your property. The first step to eliminating your debt starts here. Call us now at (312) 883-5422 to speak with a bankruptcy attorney near you.