When you’re drowning in IRS, credit card, or medical debt, we can help. At Kreisler Law you can work with a qualified chapter 7 bankruptcy attorney in Chicago, IL to free yourself from unsecured debts.
A chapter 7 bankruptcy, or bankruptcy liquidation, allows you to discharge these debts. Most people retain a majority of their assets and may even keep their home and car if they’re current on payments.
Here is a list of some of the debts that you may have liquidated when you file under a chapter 7:
- Some auto accident claims
- Certain taxes and penalties
- Credit cards
- Medical bills
- Negligence claims
- Payday loans
- Personal loans
- Repossession deficiencies
You cannot discharge some types of debt under a chapter 7 bankruptcy. These restrictions include:
- Accident claims arising because of intoxication
- Child or family support obligations
- Criminal fines or restitution
- Recent taxes
- Student loans
Protect Yourself Financially
Along with liquidating unsecured debts, a chapter 7 bankruptcy attorney in Chicago, IL can protect you from financial collectors. For instance, the following situation-specific rules apply in a chapter 7 bankruptcy case:
Lawsuits: A chapter 7 stops any lawsuits that you may have filed against you.
Creditor harassment: When you file for a chapter 7 bankruptcy, no collection agency or creditor can call you to collect money. They can no longer sue you or try to repossess your assets. This protects you from persistent creditors that may hassle you or your family.
Evictions: Chapter 7 bankruptcy can stop property owners from evicting you. You may also have the opportunity to repay overdue past rent and stay in your house.
Talk with a chapter 7 bankruptcy attorney at our Chicago, IL office to find the best solution for your financial situation. We have been designated a “Debt Relief Agency” by the United States’ Congress. We’re familiar with all applicable federal and local regulations and will help you or your business successfully navigate the ins and outs of bankruptcy laws.
Call us at 773.394.6400 to schedule your free assessment today.