Is Chapter 7 Bankruptcy Right for You?
When it comes to filing personal bankruptcy, you have two options: Chapter 7 and Chapter 13.
At the law firm of Burns & Wincek, our lawyers will take the time to explain each of these options. We will help you pick the option that is right for your situation. With more than 25 combined years of bankruptcy experience serving Chicago, Waukegan, and the rest of Northern Illinois, you can be confident that the guidance we provide you is sound.
What is Chapter 7 Bankruptcy?
Chapter 7 is the most common form of bankruptcy. It is designed to eliminate credit card debt, medical bills, payday loans, and more. Upon completion, the majority of your debt will be gone.
Only a few debts remain after a Chapter 7 bankruptcy. These include debts like student loans, most taxes, and overdue child support.
While this form of bankruptcy does involve the liquidation of nonexempt assets, you will likely be able to keep your house and your car.
Learn more by reading our bankruptcy FAQ.
What Does it Take to Qualify for Chapter 7 Bankruptcy?
Essentially, it depends on how your income balances with your necessary expenses. If all of the money you make is being used to cover cost of living expenses, and there is no money left over to pay your bills, you most likely qualify for Chapter 7.
If you do not qualify for Chapter 7, you may qualify for Chapter 13 bankruptcy.
How Much Does it Cost to File Chapter 7 Bankruptcy?
At our law firm, we realize that you don't want to be burdened with other expenses. You are considering bankruptcy because you want to get rid of your debt, not add to it. We offer outstanding service at an affordable price. Our fees are based on the amount of work involved in the case and our fees are competitive.
Free Consultation
To discuss your case with an experienced attorney, call us at 866-626-9031 or send us an e-mail.
