Illinois Lawyer Referrals and Legal Guidance
Bankruptcy in Illinois
Bankruptcy is an option in Illinois for someone who is not able to pay his or her debts to get a “fresh start” financially. When someone files for bankruptcy in Illinois his or her creditors are not allowed to collect debts from that person until the debts are sorted out according to an Illinois based federal court.
There are four kinds of bankruptcy and they are named according to the chapter of the federal Bankruptcy Code that describes them. Illinois attorneys apply federal statutes when handling bankruptcy cases in Illinois.
Whether you should file bankruptcy and the type of bankruptcy you should file depends on a number of things, including how much greater your debt is than your assets, if your home is in foreclosure or about to be foreclosed upon, whether you are no longer employed, if you have experienced costly medical bills.
Keep in mind that filing bankruptcy – no matter what type you file – does not relieve you of your alimony payments, child support payments, student loans, certain back taxes, certain government fines or penalties or fraudulent debts.
The U.S. Bankruptcy Code is complicated and intricate. While you may feel that you can’t afford an attorney right now because of your financial situation, we strongly recommend against representing yourself in bankruptcy court. An experienced Illinois bankruptcy attorney will fight for you in court and up against creditors and their lawyers. It will be in your best interest and it will ultimately worth it to have the right bankruptcy attorney on your side.
- Chapter 7
- Chapter 11
- Chapter 12
- Chapter 13
- Debt in Illinois Bankruptcy Cases
- Illinois Collection Lawyers
- Frequently Asked Questions About Bankruptcy in Illinois
- What Makes a Great Bankruptcy Lawyer?
- Illinois Loan Modification Attorneys
- Illinois Foreclosure Defense Lawyers
- Filing for bankruptcy will stop all collection efforts.
- Once you file for Chapter 7 bankruptcy you may not be able to withdraw your petition or have it converted to a Chapter 13 bankruptcy.
- It is a violation of the Fair Debt Collection Act for a collector to threaten or harass or to call you at home.
- Your failure to pay for monies that is owed to another party will never lead to arrest despite what some collection agencies tell you.
- In collection cases attorneys usually decide whether or not to take a case on an hourly or contingency basis based on the size of the debt that is owed and the ability of the defendant to pay once a judgment is secured.
- Filing for bankruptcy will stop all collection efforts.
Findgreatlawyers.com is a free service, run by Illinois lawyers, to find an attorney or obtain guidance for any Illinois legal matter, including Illinois bankruptcy cases. The way we work is that you contact us, explain your situation and offer advice and if needed an attorney that fits your needs. The attorneys we recommend are not free, but they all have a track record of success and usually also offer free consultations. Please call us at (312) 346-5320 or (800) 517-1614 or fill out our contact us form and we will contact you. All inquiries are kept in strict confidence.