Bankruptcy Relief for Beverly Residents. Beverly is known for strong families and a tight-knit community—but even here, debt can take a toll. Whether due to medical bills, loss of income, or credit card overload, bankruptcy might be the relief you need.

Leeders Law has served South Side families for over 20 years. Chapter 7 can wipe out debt entirely. Chapter 13 can help you catch up on mortgage payments and keep your home.

We make the process simple, respectful, and affordable—because we believe in helping neighbors.

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Are you facing financial distress and considering bankruptcy in Beverly, Chicago? It’s a significant decision, and choosing the right legal team can make all the difference. Leeders Law is your trusted partner in this journey to financial recovery. Here are five compelling reasons to hire us for your bankruptcy needs:

1. Experience in Bankruptcy Law

At Leeders Law, bankruptcy is our specialty. Our experienced team of attorneys is well-versed in the intricacies of bankruptcy law, with a proven track record of helping countless individuals and families regain their financial stability.

2. Local Knowledge and Presence

We have a strong local presence in Beverly, Chicago. Our attorneys are intimately familiar with the local courts, judges, and the unique procedures specific to the area. This local knowledge ensures a smooth and efficient bankruptcy process.

3. Personalized Solutions

We understand that every financial situation is unique. Leeders Law provides personalized solutions tailored to your specific needs and goals, ensuring the best outcome for your bankruptcy case.

4. Compassionate and Empathetic Approach

We know that financial challenges can be emotionally taxing. Leeders Law approaches every case with compassion and empathy, offering emotional support in addition to expert legal guidance.

5. Transparent and Honest Service

We are committed to providing transparent and honest services. With Leeders Law, you’ll have a clear understanding of fees, the bankruptcy process, and the potential outcomes of your case. No surprises, just straightforward guidance.

Use Leeders Law for Bankruptcy in Beverly

Are you ready to take control of your financial future and embark on the path to financial recovery? Leeders Law is here to guide you every step of the way. Contact us today to schedule a free consultation and take the first step toward a debt-free, stress-free future. Use Leeders Law for Bankruptcy in Beverly, Chicago.

The post 5 Compelling Reasons to Choose Leeders Law for Bankruptcy in Beverly appeared first on Chicago Bankruptcy Lawyer.

1. Experience in Bankruptcy Law

At Leeders Law, we focus on bankruptcy law. Our team has a deep understanding of the complexities of Chapter 7 and Chapter 13 bankruptcy, and we have successfully guided numerous clients through the process.

2. Local Knowledge and Experience

We have a strong local presence in Andersonville, Chicago. Our attorneys are familiar with the local courts, judges, and the specific bankruptcy procedures that apply in your area, ensuring your case proceeds smoothly.

3. Personalized Solutions

We recognize that each financial situation is unique. Leeders Law provides personalized solutions tailored to your specific needs, ensuring the best outcome for your case.

4. Compassionate and Empathetic Approach

We understand the emotional toll financial difficulties can take. Our team approaches every case with empathy and compassion, offering emotional support as well as legal guidance.

5. Transparent and Honest Service

We are committed to providing transparent and honest services. You’ll have a clear understanding of fees, the bankruptcy process, and the potential outcomes of your case.

6. Effective Communication

Clear and open communication is a cornerstone of our practice. We ensure you’re informed every step of the way, empowering you to make informed decisions about your financial future.

7. Negotiation Skills

Leeders Law excels in negotiations with creditors, helping you find favorable solutions to reduce the burden of your debts.

8. Proven Track Record

Our history of successful bankruptcy cases speaks to our competence and dedication. Read our client reviews and testimonials to see the positive impact we’ve had on the lives of individuals and families in Andersonville.

9. Accessibility and Responsiveness

We are accessible and responsive to your inquiries and concerns. Your case is our priority, and we’re here to address your questions promptly.

10. Post-Bankruptcy Guidance

Our commitment doesn’t end with your debt discharge. We provide guidance on rebuilding your credit and managing your finances after bankruptcy, helping you regain financial stability.

At Leeders Law, we believe in a brighter financial future for our clients. If you’re ready to take control of your finances and embark on a journey to financial recovery, contact us today to schedule a free consultation for your Bankruptcy Case in Andersonville. Let us be your advocate and guide you toward a debt-free, stress-free future in Andersonville, Chicago, IL.

The post Choose Leeders Law for Your Bankruptcy Case in Andersonville, Chicago, IL appeared first on Chicago Bankruptcy Lawyer.

No matter where you live, we can help represent you for a chapter 7 bankruptcy or chapter 13 bankruptcy.   Contract us today to schedule a free bankruptcy evaluation to see if bankruptcy is right for you.   We have convenient office locations and also offer phone and video consults as well.

Andersonville

Archer Heights

Ashburn

Ashburn Estates

Austin

Avondale

Back of the Yards

Belmont Central

Beverly

Beverly Woods

Brainerd

Bridgeport

Brighton Park

Bronzeville

Bucktown

Burnside

Calumet Heights

Canaryville

Clearing

Chatham

Chinatown

Cottage Grove Heights

Cragin

Dunning

East Chicago

Edison Park

Edgebrook

Edgewater

Englewood

Ford City

Gage Park

Galewood

Garfield Park

Garfield Ridge

Gold Coast

Grand Crossing

Gresham

Hamilton Park

Humboldt Park

Hyde Park

Jefferson Park

Kelvyn Park

Kenwood

Kilbourn Park

Lake Meadows

Lakeview

Lawndale

Lincoln Park

Lincoln Square

Little Village

Logan Square

Longwood Manor

Loop

Marquette Park

McKinley Park

Midway

Morgan Park

Montclare

Mount Greenwood

North Center

Norwood Park

O’Hare

Old Irving Park

Old Town

Park Manor

Pilsen

Princeton Park

Portage Park

Pullman

Ravenswood

Riverdale

River North

River West

Rogers Park

Roscoe Village

Roseland

Sauganash

Schorsch Village

Scottsdale

South Chicago

South Deering

South Loop

South Shore

Streeterville

Tri-Taylor

Ukrainian Village

United Center

Uptown

Vittum Park

Washington Heights

West Elsdon

West Loop

West Pullman

Westlawn

Wicker Park

Woodlawn

Wrigleyville

Wrightwood

Leeders Law – Bankruptcy Attorney in Chicago – we can help! Contact for a free legal evaluation.  Office, phone and video consultations available.

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Introduction:

Bankruptcy can be a daunting prospect, but it doesn’t have to be. With the right bankruptcy attorney on your side, you can get a fresh start and move on with your life.

If you’re considering bankruptcy in Chatham, Chicago, Illinois, Leeders Law is the law firm for you. Our experienced bankruptcy attorneys will help you every step of the way, from filing your petition to negotiating with your creditors.

But don’t just take our word for it! Here are what some of our satisfied clients have to say:

• “Terry was very easy to work with. Very communicative, explained everything well, and made expectations/deadlines very clear. Great experience overall.” -A.C.
• “Terrrance Leeders has a great personality, he’s very knowledgeable, understanding, respectful, flexible and logical. I am very satisfied and I highly recommend this business.” – C.F.

So why should you hire Leeders Law as your bankruptcy attorney in Chatham? Here are just a few reasons:

• We have a proven track record of success. We’ve helped hundreds of clients in Chatham and the surrounding area get through bankruptcy and get a fresh start.
• We’re affordable. We offer flexible payment options so that you can afford to get the legal help you need.
• We’re compassionate. We understand that bankruptcy is a difficult time, and we’re here to support you every step of the way.

If you’re considering bankruptcy in Chatham, contact LeedersLaw.com today for a free consultation. We’ll help you understand your options and decide if bankruptcy is the right choice for you.

And don’t forget, bankruptcy isn’t the end of the world! It’s just a tool to help you get back on your feet financially. With Leeders Law by your side, you’ll be on your way to a fresh start in no time.

P.S. If you’re still not sure if hiring a bankruptcy attorney is right for you, here’s a lighthearted analogy to help you decide:

Imagine you’re lost in a dense forest. You’ve been wandering for hours, and you’re starting to panic. You could try to find your way out on your own, but it’s risky. You could get lost even more, or you could encounter dangerous animals.

Or, you could hire a guide. A guide knows the forest like the back of their hand. They can help you find your way out safely and quickly.

Hiring a bankruptcy attorney is like hiring a guide for the bankruptcy process. They know the law and the bankruptcy process inside and out. They can help you avoid pitfalls and get the best possible outcome for your case.

So if you’re lost in the bankruptcy forest, don’t try to find your way out on your own. Hire a guide. Hire Leeders Law.

Contact us today for a free consultation!

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Facing the possibility of losing your home due to foreclosure can be an incredibly distressing experience. However, there are legal avenues available to homeowners in financial distress, offering them a chance to save their homes and regain control over their finances. One such avenue is Chapter 13 bankruptcy, a powerful tool that can provide relief and help individuals halt the foreclosure process. In this blog post, we will explore how Chapter 13 bankruptcy can be used to stop foreclosure and provide individuals with a fresh start.

Understanding Chapter 13 Bankruptcy

Chapter 13 bankruptcy is a type of bankruptcy protection available to individuals with a regular income. It allows debtors to reorganize their debts and develop a repayment plan, which typically spans three to five years. Unlike Chapter 7 bankruptcy, which involves liquidating assets to pay off debts, Chapter 13 focuses on creating a manageable repayment plan while allowing the debtor to retain their property.

Halting the Foreclosure Process

One of the most significant advantages of Chapter 13 bankruptcy is its ability to halt the foreclosure process, providing individuals with an opportunity to catch up on missed mortgage payments. When a Chapter 13 bankruptcy petition is filed, an automatic stay goes into effect, immediately stopping all collection efforts, including foreclosure proceedings. This automatic stay can provide a much-needed breathing space for homeowners to assess their financial situation and work towards a resolution.

The Repayment Plan

A crucial aspect of Chapter 13 bankruptcy is the development of a repayment plan. This plan outlines how the debtor intends to repay their creditors over a specific period. The plan must be submitted to the bankruptcy court for approval. When it comes to mortgage arrears, Chapter 13 allows debtors to include missed payments in the repayment plan. This enables homeowners to catch up on their mortgage payments gradually, making them more manageable and preventing further delinquency.

Advantages of Chapter 13 Bankruptcy to Stop Foreclosure

1. Home retention: Chapter 13 bankruptcy allows homeowners to keep their homes while working towards resolving their financial difficulties. By providing an opportunity to catch up on missed mortgage payments, Chapter 13 helps individuals avoid foreclosure and retain their most valuable asset.

2. Structured repayment: With Chapter 13, debtors can create a structured repayment plan that fits their financial capabilities. This plan takes into account their income and expenses, allowing them to repay debts in a way that is realistic and achievable.

3. Protection from creditors: The automatic stay that accompanies Chapter 13 bankruptcy provides immediate relief from creditor harassment and collection efforts. This protection can help individuals regain a sense of control over their finances and reduce stress.

4. Debt consolidation: Chapter 13 bankruptcy allows individuals to consolidate their debts into a single monthly payment. This can simplify the repayment process and potentially lower the overall debt burden, making it easier for homeowners to manage their financial obligations.

Conclusion

When faced with the threat of foreclosure, Chapter 13 bankruptcy can be a lifeline for homeowners struggling with financial difficulties.  By putting a halt to the foreclosure process and providing an opportunity to catch up on missed mortgage payments, Chapter 13 offers individuals a chance to save their homes and regain control over their financial future. Consulting with a bankruptcy attorney can help homeowners navigate the complexities of Chapter 13 and develop a repayment plan that suits their needs. Remember, taking proactive steps and seeking professional advice can make all the difference in stopping foreclosure and securing a fresh start.

Chapter 13 Bankruptcy: A Powerful Tool to Stop Foreclosure

Is a Chapter 13 Bankruptcy right for you?  Reach out to our skilled bankruptcy lawyer, Terry Leeders for a free bankruptcy strategy session.  We will review all of your options available, and craft a unique plan to assist. 

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Introduction

Chapter 13 bankruptcy is a type of reorganization bankruptcy that is available to individuals. It is also known as a wage earner’s bankruptcy because it requires the debtor to have a regular source of income.

Under Chapter 13, the debtor proposes a plan to repay all or part of their debts over a three to five-year period. The debtor must use their best efforts to repay the debts, and the payments are made to a trustee who then distributes the funds to the creditors.

If you are considering filing for Chapter 13 bankruptcy, it is important to speak with a bankruptcy attorney to learn about your rights and obligations.

What is Chapter 13 Bankruptcy?

Chapter 13 bankruptcy is a type of reorganization bankruptcy that enables an individual who has a regular source of income to repay all or part of their debts over a three to five-year period. The repayment plan is supervised by a Bankruptcy Court, and the debtor must use their best efforts to make the payments as agreed. The trustee distributes the payments to the creditors, and at the end of the repayment period, the debtor receives a discharge of the remaining debt, which means they no longer have to pay it.

A Chapter 13 bankruptcy is filed in the District of the debtor’s residence. The guidance of a bankruptcy attorney is important to ensure that all the necessary steps for successful filing are taken.

How to file for Chapter 13 Bankruptcy?

The filing of a Chapter 13 bankruptcy involves several steps. First, the debtor must prepare the paperwork that is needed for the filing. This includes a list of the debtor’s assets and liabilities, income and expenses, a schedule of the debtor’s property, and a statement of the debtor’s financial affairs. The debtor must also submit a proposed repayment plan and a budget that shows how the debtor will use their income to make the plan payments.

Next, the debtor must file the paperwork with the Bankruptcy Court in the district of the debtor’s residence. A debtor’s bankruptcy lawyer will prepare and file these documents for them. The debtor must also attend a meeting with the trustee, their bankruptcy lawyer and the creditors (who rarely show up), where they can ask questions about the plan and discuss any objections they may have.

Finally, the Bankruptcy Court must approve the repayment plan before it is put into effect.

The Advantages and Disadvantages of Chapter 13 Bankruptcy

Chapter 13 bankruptcy has several advantages. The repayment plan allows the debtor to catch up on past due payments, such as mortgage or car payments, and make regular payments on secured debts, such as a car loan. The debtor also has the opportunity to negotiate with creditors to reduce their debt or interest rate. One of the major disadvantages of Chapter 13 bankruptcy is that it requires the debtor to make regular payments over a three to five-year period. This can be difficult if the debtor’s income is reduced or if their expenses increase. The debtor’s credit score will also suffer, as the bankruptcy will be listed on the debtor’s credit report for up to seven years.

What to do After Filing for Chapter 13 Bankruptcy?

After filing a Chapter 13 bankruptcy, the debtor must continue to make their regular monthly payments as outlined in their repayment plan. The debtor must also keep the trustee informed about any changes to the debtor’s income or expenses, such as a change in employment or an increase in medical expenses. The debtor should avoid making large purchases or taking out new loans unless the are reasonable and necessary. The bankruptcy Judge and trustee must approve these purchases in advance, by a motion filed with the court.

Conclusion

Filing for Chapter 13 bankruptcy enables an individual with a steady source of income to restructure their debts and repay them over a three to five-year period. There are some advantages to filing, such as the ability to catch up on past due payments and pay unsecured debts with little to no interest, and often, just pennies on the dollar. There are also some disadvantages, namely the time commitment, having to make regular payments over three to five years. To ensure a successful filing, it is important to speak with a bankruptcy attorney, as they can provide the guidance needed to make the best decisions when it comes to filing and repaying debts. Contact us now for a free legal bankruptcy evaluation.

The post <strong>Chapter 13 Bankruptcy: What It Is and How to File</strong> appeared first on Chicago Bankruptcy Lawyer.

So many individuals and families are living paycheck to paycheck.  Thousands have lost their jobs do to Covid-19 closures.  Small businesses have had to close, with many having invested their life savings.    Landlords,  lenders and credit card companies who allowed for consumers to skip a few payments are now collecting on their balances, moving for evictions and are suing to collect the debt owed.  

Chapter 7 bankruptcy can help eliminate these debts allowing the stress of unpaid bills to be relieved.   Chapter 13 can restructure car loans, help consumers get current on their rent obligations and stop foreclosure as well.    The time to act is now, since there is an anticipated increase in bankruptcy cases coming this fall and winter.   I offer free phone and Zoom consultations to help provide a safe filing process for consumers.   If you know of anyone who is struggling, have them call me for a free consultation so I can show how I can make things a little easier during these troubling times.   Stay healthy, stay safe.   Terry

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Chapter 7

Chapter 7 bankruptcy is the most common bankruptcy that people file.  This is the chapter that gets rid of most consumer debts in about 90 days.    Most credit cards, medical bills, repossessions, personal loans are dischargeable in a chapter 7 bankruptcy.  Some debts, like parking tickets, some taxes, student loans, and child support do not discharge in a chapter 7.

Further, mortgages and car loans are either surrendered, reaffirmed, or redeemed in a chapter 7 case.  Finally, the chapter 7 trustee can sell any un-exempt assets to pay to the unsecured creditors, but in a majority of chapter 7 cases, assets are exempt and there is no liquidation.

Chapter 11

Chapter 11 bankruptcy is for corporations, or for individuals who don’t qualify for another chapter.  These are major restructurings, and these are the ones you hear in the news, chain stores, department stores, airlines and such.    I don’t do chapter 11 cases, but I can get you a referral as needed.

Chapter 12

Chapter 12 Bankruptcy is for family farmers.   I do not practice chapter 12 bankruptcy law, so you should contact a chapter 12 bankruptcy attorney.  The Chicago Bar Association has referrals.

Chapter 13

Last, is chapter 13 bankruptcy, or wage earners bankruptcy. People who don’t qualify for chapter 7 file chapter 13.  In Chapter 13, a debtor repays a portion of their debts, based on their ability to pay and based on their assets.   Furthermore, a chapter 13 plan can pay back as little as 0% to the unsecured creditors, and up to 100% of the debt back.  This is based on any un-exempt equity in the debtor’s assets, and based on the debtor’s monthly income and means test calculations.

Consequently, a debtor’s repayment plan pays back enough of the debt to protect the un-exempt assets, and a percentage of the debt back, based on the disposable monthly income on the means test, whichever is higher.   Any remaining  unpaid debts get discharged at the completion of a confirmed chapter 13 case. Lastly, chapter 13 can help with tickets, taxes, child support too.

Free consultation

Contact us today for a free consultation about chapter 7 or chapter 13 bankruptcy.  We’ll be happy to discuss the differences with you and help show you which chapter would be best based on your specific situation.

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