Homer Glen Debt Relief Attorneys
Chapter 7 bankruptcy can be a good debt relief option for people who have a large amount of unsecured debt. Unsecured debt is any debt that is not backed by collateral. Some examples of unsecured debt include credit card and medical bills. If you are having a hard time keeping up with your payments or the payments you make don't put a dent in the amount you owe, talk to an experienced Illinois bankruptcy lawyer to see if Chapter 7 would be right for you.
At the Mitchell Law Group, our Joliet Chapter 7 bankruptcy attorneys have helped numerous clients to get the debt relief they need. We will take the time to thoroughly review your case and let you know if Chapter 7 is right for you. In some cases, you may be able to get back on track without filing for bankruptcy. We will explain all your options and give you our best recommendation about how to proceed.
Understanding Chapter 7 Bankruptcy
There are a number of advantages to filing for bankruptcy. One of the biggest being the end of creditor harassment. Once your petition is filed, every creditor must stop all collection activity, including phone calls, letters, garnishments, repossessions and foreclosure actions. In Chapter 7 bankruptcy, some of your possessions may be sold in order to raise money to repay your creditors. In most cases, though, little if any personal property is lost.
Many people are hesitant to file for Chapter 7 bankruptcy because they fear they will lose everything they own. In fact, the law allows you to keep certain critical property to live a normal life. This is referred to as exempt property. Among the property you are allowed to keep, assuming you can repay any arrearages and continue to make payments on them after your bankruptcy, are a home, a car, clothing, household furnishings, tools for work and others.
Call for a Free Consultation 24/7
Contact our office today to discuss your Chapter 7 bankruptcy questions. We offer a free initial consultation by phone or in person. You are able to reach a member of our firm at any time, day or night. You can reach us by phone at 815-207-8607, toll free at 888-689-6042 or via e-mail.
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