Bankruptcy

WE HANDLE

Chapter 7 Bankruptcy
Wipe out most unsecured debt — credit cards, medical bills, personal loans — and get a fresh start in as little as 3-4 months.

Chapter 13 Bankruptcy
Reorganize your debt into a manageable 3-5 year repayment plan while keeping your house and car.

Foreclosure Defense
Stop foreclosure proceedings and buy time to catch up on mortgage payments or negotiate with your lender.

Creditor Harassment
Stop collection calls, lawsuits, and wage garnishments immediately when you file.

Debt Relief Consultation
Not everyone needs bankruptcy. We review all your options — debt consolidation, negotiation, settlement — and recommend the best path forward.

Means Test Analysis
Determine whether you qualify for Chapter 7 or need to file Chapter 13 based on income and expenses.

Asset Protection
Illinois exemptions allow you to keep your home, car, retirement accounts, and personal property. We maximize what you can protect.

Business Bankruptcy
Sole proprietors, partnerships, small business debt — we handle business-related bankruptcy matters.

CHAPTER 7 VS. CHAPTER 13: WHICH IS RIGHT FOR YOU?

Chapter 7 (Liquidation)

• Wipes out most unsecured debt (credit cards, medical bills, personal loans)
• Completed in 3-4 months
• You keep exempt property (house, car, retirement, personal items)
• Income must be below median or pass means test
• Best for: People with primarily unsecured debt who qualify income-wise

Chapter 13 (Reorganization)

• Restructure debt into 3-5 year repayment plan
• Keep your house and car while catching up on missed payments
• Pay what you can afford based on income and expenses
• Stops foreclosure and repossession
• Best for: People with steady income who are behind on mortgage/car payments or don't qualify for Chapter 7

We analyze your situation and recommend the best option.

WHAT BANKRUPTCY CAN DO

Stop Creditor Harassment
The moment you file, an automatic stay goes into effect. Collection calls, lawsuits, wage garnishments — all stop immediately.

Discharge Unsecured Debt
Credit card debt, medical bills, personal loans, past-due utilities — most unsecured debt is wiped out completely.

Stop Foreclosure
Chapter 13 can stop foreclosure and give you time to catch up on mortgage payments through your repayment plan.

Stop Repossession
Keep your car by catching up on payments through Chapter 13 or redeeming it at current value.

Stop Wage Garnishment
If creditors are taking money directly from your paycheck, bankruptcy stops it immediately.

Protect Exempt Assets
Illinois law allows you to keep your home (up to exemption amount), car, retirement accounts, and personal property.

WHAT BANKRUPTCY CAN'T DO

Bankruptcy is powerful, but it's not magic. You generally cannot discharge:

• Recent taxes (less than 3 years old)
• Child support and alimony
• Student loans (with rare exceptions)
• Debts from fraud or intentional harm
• Recent luxury purchases or cash advances
• DUI judgments

We'll tell you honestly what can and can't be discharged.

COMMON MISTAKES THAT HURT YOUR CASE

Using credit cards before filing.
New charges within 90 days of filing can be considered fraud. Stop using credit cards immediately.

Transferring assets to friends or family.
Transferring property before filing looks like you're hiding assets. It can get your case dismissed or worse.

Paying back family or friends selectively.
The trustee can reverse "preferential payments" made to insiders before filing. Don't pay back relatives while ignoring other creditors.

Cashing out retirement accounts.
Retirement accounts are protected in bankruptcy. Don't drain them to pay unsecured debt — you'll lose the protection and still owe taxes.

Waiting too long.
Filing before you lose your house or car gives you more options. Don't wait until everything is gone.

WHAT YOU NEED TO KNOW

Bankruptcy doesn't ruin your credit forever. Chapter 7 stays on your report for 10 years, Chapter 13 for 7 years — but most people start rebuilding credit within 1-2 years after discharge.

You can keep your house and car. As long as you're current on payments and within exemption limits, you can keep them in Chapter 7. In Chapter 13, you catch up on missed payments through your plan.

Not all debt goes away. Child support, most taxes, student loans, and recent luxury purchases generally can't be discharged.

You won't lose everything. Illinois exemptions protect your home (up to $15,000 equity), car ($2,400 equity), retirement accounts, and personal property.

Filing stops collection immediately. The automatic stay is one of the most powerful tools in bankruptcy law.

THE PROCESS

Free Consultation
We review your debts, assets, income, and expenses. We explain your options honestly and help you decide if bankruptcy is right.

Credit Counseling
You must complete a credit counseling course before filing. We'll tell you where to do this (it's quick and inexpensive).

Prepare & File
We gather financial documents, prepare your petition, schedules, and statement of financial affairs, and file with the court.

Automatic Stay Takes Effect
The moment we file, creditor harassment stops. No more calls, lawsuits, or garnishments.

Meeting of Creditors (341 Meeting)
You meet with the bankruptcy trustee (not a judge) to answer questions about your finances. We prepare you and attend with you.

Discharge
Chapter 7: 60-90 days after filing. Chapter 13: After completing your 3-5 year plan. Your qualifying debts are wiped out.

WHAT TO DO IF YOU'RE CONSIDERING BANKRUPTCY

Stop using credit cards immediately. New charges can be considered fraud if you file soon after.

Don't transfer assets or pay back family. It can get your case dismissed or trigger fraud allegations.

Gather your financial records. Pay stubs, tax returns, bank statements, bills, creditor letters — collect everything.

Understand Chapter 7 vs. Chapter 13. One might be better for your situation. We'll explain which and why.

Don't wait until you lose everything. Filing earlier gives you more options and protections.

Call us: 618-310-3777. We help you navigate bankruptcy and protect what matters most.