Is Chapter 13 Bankruptcy Right for You?
When it comes to filing personal bankruptcy, you generally have two options: Chapter 13 or Chapter 7.
At the law firm of Burns & Wincek, our attorneys will take the time to educate you about each option. Your situation is unique and we will help you pick the right option for you. We have more than 25 combined years of bankruptcy experience serving Chicago, Waukegan, and the rest of Northern Illinois, so you can be certain that the guidance we provide is sound.
What is Chapter 13 Bankruptcy?
Chapter 13 allows you to eliminate credit card debt, medical bills, payday loans, and more by creating a plan to pay back these debts in a manner that works within your budget. After 3 to 5 years, depending on the plan that is created, the majority of your debt will be gone.
This form of bankruptcy is designed to help you get rid of your debt without getting rid of your assets. You'll be able to keep your house and your car. In fact, it is a good strategy to defend against foreclosure and to defend against repossession.
Learn more by reading our bankruptcy FAQ.
What Does it Take to Qualify for Chapter 13 Bankruptcy?
Qualification depends primarily on how your income balances with your necessary expenses. If, after you have covered cost of living expenses, you still have some money to pay bills, but not enough to pay all of them, you most likely qualify for Chapter 13.
If you do not qualify for Chapter 13, you may qualify for Chapter 7 bankruptcy.
How Much Does it Cost to File Chapter 13 Bankruptcy?
You don't want any additional expenses. You've got enough financial troubles to deal with. We understand this. You want to file bankruptcy because you want to get rid of your debt, not create more. That's why we offer our outstanding service at an affordable price. We typically ask for the filing fee up front, along with a little additional up-front to cover the initial costs associated with preparing, proposing and presenting your plan.
Free Consultation
To discuss your case with an experienced lawyer, call us at 866-626-9031 or send us an e-mail.
