Illinois Bankruptcy Lawyers

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Chicago Debt Solutions

Chicago Debt Solutions

Stop Creditor Harassment - Stop Foreclosure and Repossession - Stop Garnishments

One South Dearborn Street, Suite 2100 - Chicago, IL 60603
888-536-6607

Edwin L Feld & Associates, LLC

Edwin L Feld & Associates, LLC

Since 1984, Attorney Ed Feld has represented thousands of Chapter 7 and Chapter 13 bankruptcy clients in the Chicago area. With 8 area locations including Gurnee & Round Lake Beach, we offer personal service and flexible payment plans.

1 N LaSalle Street Suite 1225 - Chicago, IL 60602
(888) 645-4357

McKenna Storer

McKenna Storer

McKenna Storer is a law firm with a history and reputation for providing the highest quality legal services to its clients. Our clients are individuals, corporations and insurance companies.

33 North LaSalle Street, Suite 1400 (312)-558-3900, Fax: (312)-558-8348 - Chicago, IL 60602-2610
(815) 334-9693

Midwest Bankruptcy Attorneys LLC

Midwest Bankruptcy Attorneys LLC

At Midwest Bankruptcy Attorneys in Chicago, we have a single goal: to eliminate debt from your life and help you gain control over your finances.

321 N Clark Street Suite 800 - Chicago, IL 60654
(312) 836-0455

Client First Bankruptcy

Client First Bankruptcy

We specialize in Chapter 7 and Chapter 13 bankruptcy cases. **** Contact us for a free bankruptcy evaluation ****

211 W. Wacker Drive #200 - Chicago, IL 60606
800-383-6004

Law Offices of Talan & Ktsanes

Law Offices of Talan & Ktsanes

More Than 50 Years' Legal Experience

223 W. Jackson Boulevard, Suite 512 - Chicago, IL 60606
312-629-7550

Benjamin | Brand | LLP

Benjamin | Brand | LLP

1016 W. Jackson Boulevard - Chicago, IL 60607-2914
(312) 853-3100

Jill Rose Quinn Attorney and Couselor at Law

Jill Rose Quinn Attorney and Couselor at Law

CHICAGO LAW FIRM DEDICATED TO PROVIDING PERSONAL LEGAL SERVICES

4825 North Mason Avenue, Suite 105 - Chicago, IL 60603
773-777-9277

Giudice Law Limited

Giudice Law Limited

Your Trusted Illinois Bankruptcy, Foreclosure and Criminal Law Firm

201 N. Church Road - Bensenville, IL 60106
630-595-4520

Lynch Law Offices

Lynch Law Offices

Honest & Dedicated Professionals

900 S. State Street, Second Floor - Lockport, IL 60441
(630) 326-3560

Bankruptcy Clinic Attorney/Gary C. Flanders

Bankruptcy Clinic Attorney/Gary C. Flanders

Rockford Chapter 7 and Chapter 13 Bankruptcy Law Firm

The Bankruptcy Center

The Bankruptcy Center

Illinois Bankruptcy Attorneys

Law Offices of Mark J. Rose

Law Offices of Mark J. Rose

Committed to Quality Legal Representation.

Law Offices of Peter Buh

Law Offices of Peter Buh

M. Hedayat and Associates, P.C.

M. Hedayat and Associates, P.C.

Charles E. Covey, Attorney at Law

Charles E. Covey, Attorney at Law

Ruddy & King, LLC

Ruddy & King, LLC

Law Firm in Aurora, IL

Taliana, Buckley & Asa

Taliana, Buckley & Asa

Buckrop & VanDeVelde, PC

Buckrop & VanDeVelde, PC

Free Initial Consultation Fair and Flexible Fees Friendly and Professional Staff

Dixon & Johnston, P.C.

Dixon & Johnston, P.C.

From our offices in Belleville, Illinois, Dixon & Johnston Law Office represents clients in communities throughout Southern Illinois and the Metro East region of Illinois. Contact us today at 618-233-1103 to schedule a free initial consultation.

Illinois Bankruptcy Legal Advice

The Federal Bankruptcy Law involves processes, procedures and evaluations which can be complex and confusing, including major revisions made in 2005. Seek the advice of an Illinois law firm with specific long-term experience in Illinois bankruptcy matters. Check references, if possible. A competent Illinois attorney will help you weigh your different options, make informed decisions, help you protect the security of your family and reduce your stress, while facing the realities of the situation.

Alternatives to Illinois Bankruptcy

Contact your creditors to try to work out payment arrangements that you can manage. Contact the non-profit Consumer Credit Counseling service to get help with a manageable repayment plan. Sell as many assets as you can and pay down your debt to a manageable level. Debt consolidation may be considered, but approach this option with caution to make sure it actually helps your situation.

Consumer Bankruptcy Choices in Illinois

Chapter 7 is the “fresh start” chapter of the Bankruptcy Code and most commonly used. This filing results in a fair distribution of your available nonexempt property to creditors. Unsecured debts are generally discharged. Included in this process is a “means test”, used to determine your ability to pay your creditors, verifying whether Chapter 7 is appropriate or indicating that you should be filing Chapter 13. Median Family Income by Family Size and current poverty guidelines are factors evaluated when determining appropriate filing status for a given situation.

Filing an Illinois Business Bankruptcy

U. S. business bankruptcies were up 40% in May of this year, further verifying the depth and breadth of the sluggish economy. Chapter 7 and Chapter 11 are the two most common types of Illinois business bankruptcy choices. With some exceptions, Chapter 7 is a liquidation procedure where the business is closed and all unsecured debt is discharged. Chapter 11 provides for working out an arrangement to pay creditors all or part of what is owed while keeping the company in business.

Last Words on Bankruptcy in Illinois

Illinois residents and businesses continue to suffer, as the State’s economy struggles to recover. If you are considering filing for bankruptcy in Illinois, decisions you make and actions you take now can have a positive or negative effect on the outcome of your bankruptcy proceedings. Although some filers elect to handle their bankruptcy on their own, The U.S. Bankruptcy Court cautions that “Bankruptcy has long-term financial and legal consequences -- hiring a competent attorney is strongly recommended.” Click here to find Illinois attorney resources in your area.<!--[endif]-->

 

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