Northbrook Chapter 7 Bankruptcy Lawyer
Nearly Two Decades of Experience in Bankruptcy Law
Are you swimming in consumer debt, such as credit card debt, medical or dental bills, personal or payday loans, or other unsecured debt? Are your creditors hounding you to collect? Have you spent sleepless nights due to the stress and anxiety of your debt? Under state and federal law, you may be eligible for a Chapter 7 bankruptcy, which is designed to give honest debtors a fresh start.
The first step in handling your debt is to find out if a Chapter 7 is right for you. You can accomplish that in a free, initial consultation with our Northbrook Chapter 7 bankruptcy attorney at Fridman Legal. Our firm has been helping clients achieve their financial goals for close to 20 years. We have the experience, knowledge, and dedication to help you get back on your feet and attain the peace of mind you need.
Illinois Chapter 7 Bankruptcy
Chapter 7 is a legal process that starts with a petition filed with the bankruptcy court. First, you must meet the prerequisites in order to file. When filing, you must include a detailed list of all of your assets, income, expenses, and debts. Under the law, any non-exempt assets will be liquidated to provide funds to pay off your creditors. In most cases, however, most of your property will be exempt from this liquidation per either the Illinois or federal list of exemptions.
Once your bankruptcy case is filed, you will be assigned to a bankruptcy trustee whose job is to manage your case and oversee the proceedings. At this point, the court will order an automatic stay, which prohibits your creditors from seeking collection. This puts a stop to any type of creditor harassment. Following this, a meeting with your creditors will be scheduled, during which your creditors may appear, although this rarely happens. At the meeting, the trustee will review your case and most likely will recommend a discharge of your unsecured debt.
Debts that cannot be discharged include:
- Student loans
- Child support
- Taxes, such as federal, state, or local
- Personal injury debts
Proven Results from Fridman Legal
Bankruptcy can be a complex legal matter. Due to this, it is essential that you have experienced representation to ensure that your case is handled professionally and thoroughly. At Fridman Legal, you always work directly with our attorney from start to finish. We urge you to take advantage of our personalized client service, exceptional legal skills, and strong history of successful results.
Call our Chapter 7 bankruptcy lawyer in Northbrook at (847) 278-0665.