Chicago Bankruptcy Lawyer

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How to Know When Bankruptcy Is Right for You

August 13, 2015Bankruptcy, chapter 13, chapter 7, debt management plan, Debthelper.com, when to file bankruptcyTerrance Leeders
How to Know When Bankruptcy Is Right for You 
Before you decide to file for personal bankruptcy you should be aware that it is not necessarily the best choice for everyone. For many people, bankruptcy should be the last-case...
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Payday loans – stop wage assignments

July 23, 2014chapter 13, chapter 7, payday loans, wage assignment1 CommentTerrance Leeders

Did you know that a Chapter 7 or Chapter 13 can stop a wage assignment?Did you know that I, as your bankruptcy attorney can stop a wage assignment even without filing your case?Credit unions, payday loans, and internet loans to name a few,...

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Northern District of Illinois Bankruptcy Filing Statistics – 2014 Year to date

July 22, 2014bankruptcy stats, chapter 13, chapter 7Terrance Leeders

So far, in 2014 there have been 29,052 bankruptcy cases filed in the Northern District of Illinois

Compared to this time last year, when 31,754 cases were filed, down, almost 9%.
Adversary proceedings were down from 1064 to just...
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Chapter 7 and Chapter 13 bankruptcy filing fee increases

April 30, 2014bankruptcy court, chapter 13, chapter 7, filing feeTerrance Leeders

I just received a memo from the United States Bankruptcy Court indicating that the filing fees for bankruptcy cases will be increasing effective June 1, 2014.

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Z is for Zero! Our last installment in our Bankruptcy alphabet series

January 16, 2014chapter 13, chapter 7, dischargeTerrance Leeders

Zero.  That is how much unsecured debt remains after a chapter 7 or chapter 13 bankruptcy discharge.  

 
You should be back on track now, debt free.   There are a few exceptions.  Student loans or educational debts do...
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Y is for You Did It! You got a bankruptcy discharge!

January 13, 2014car loan, chapter 13, chapter 7, credit card, discharge, mortgageTerrance Leeders

Y was a tough letter to find to post about for bankruptcy.Not many bankruptcy terms begin with the letter Y, there isn't much caselaw that starts with the letter Y.No Judge has a name that starts with a Y in Chicago

So, I figure I'll...

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V is for …. Valuation of assets in bankruptcy

August 7, 2013722 redemption, assets, bankruptcy exemptions, chapter 13, chapter 7, lien stripping, redemption, unsecured debts, valuation, wholly unsecured mortgageTerrance Leeders

With chapter 7 bankruptcy, putting a value on your assets is of utmost importance.

Each state gives debtors limited exemptions to protect assets, so the proper value of your belongings is crucial. Now, in general, the trustee in your...

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U is for Unsecured Debt in bankruptcy

July 1, 2013Bankruptcy, chapter 7, unsecured debtsTerrance Leeders

Unsecured debt is the debt most debtors in bankruptcy are looking to discharge.  This includes credit cards, medical bills, utility bills.  It also covers repossessions, broken leases and foreclosure deficiencies.

Tax debt and child...

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Deeds and Homeowner Association Fees – Bankruptcy Home Blog

June 3, 2013assessments, chapter 13, chapter 7, foreclosure, HOATerrance Leeders

Deeds and Homeowner Association Fees - Bankruptcy Home Blog

Interesting fact pattern here. The spin I see is that the debtor files bankruptcy and 'surrenders' the home.Many mistakenly believe discharging the mortgage means the house is...

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T is for Terrance Leeders – head bankrutpcy attorney and owner of Leeders & Associates

May 22, 2013Bankruptcyhome.com, chapter 13, chapter 7, Leeders and Associates, leederslaw.com, Terrance LeedersTerrance Leeders

Hi All.  I was recently interviewed for an article by BankruptcyHome.com.  I have enclosed a link to their article.   If anyone as has any further questions, feel free to contact me at Leederslaw.com, or call me at...

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Leeders Law

2 weeks ago

Leeders Law
Foreclosures Rising in Chicago – Stop It Before It StartsBody:Foreclosure filings in Cook County and the Chicago area continue to climb in 2026.If you’re behind on your mortgage, facing lender pressure, or worried about losing your home in Chicago or anywhere in the suburbs — you have options.Chapter 13 bankruptcy can stop foreclosure immediately, let you catch up on missed payments over time, and keep you in your home. Chapter 7 may also help depending on your equity and situation.With the new higher Illinois exemptions in 2026, more homeowners than ever can protect their property while getting debt relief.At Leeders Law, we offer personalized, one-on-one service from our convenient office locations or phone/virtual appointments.Attorney Terry Leeders has over 28 years stopping foreclosures and helping Chicago families save their homes.Get a FREE consultation this week — in person, phone, or video. No pressure, just clear answers.Call today: (312) 346-7400Website: leederslaw.comYou don’t have to face this alone — help is local and available now.#stopforeclosure #chicagoforeclosure #Chapter13 #leederslaw #DebtHelpLearn more, Call now! ... See MoreSee Less

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Leeders Law

1 month ago

Leeders Law
Chicago's Economy & the Rise in Consumer Bankruptcy — What's Going On?If you've been feeling financial pressure lately, you're not alone. Across the Chicago metro area — and the country as a whole — more families are struggling to keep up.A few things worth knowing:📊 Consumer bankruptcy filings rose 11% nationally in 2025, and the trend is continuing into 2026. Chicago is not immune.💳 U.S. credit card debt has hit a record $1.21 trillion — a sign that many households are borrowing just to cover everyday expenses.🏛️ Chicago's pension obligations remain a long-term pressure on city finances, which can affect services, taxes, and the broader economic climate residents depend on.The causes are real — high interest rates, lingering inflation, and stagnant wages for many workers. For some, bankruptcy isn't the end of the road. It's a legal tool designed to give people a genuine fresh start.If you or someone you know is feeling overwhelmed by debt, talking to a financial counselor or bankruptcy attorney is a smart first step — not a last resort.💬 Have you noticed the financial squeeze in your neighborhood? Share your thoughts below.#chicago #personalfinance #consumerbankruptcy #chicagoeconomy #debtrelief #FinancialWellness #illinois #leederslaw #bankruptcy ... See MoreSee Less

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Leeders Law

1 month ago

Leeders Law
💡 Gas prices up. Grocery bills up. Utility bills up. Your paycheck? The same.If you're robbing Peter to pay Paul every month — using credit cards just to cover the basics — you're not alone. Millions of Americans are feeling the same squeeze right now.But here's what most people don't know: bankruptcy isn't failure. It's a federal legal tool designed for exactly this situation. It can:✅ Wipe out credit card debt✅ Stop collection calls immediately✅ Give you a real fresh startAt LeedersLaw, we offer FREE consultations with no pressure and no judgment. We'll tell you honestly whether bankruptcy makes sense for you — and if it does, we'll walk you through every step.You've been carrying this long enough. Le#BankruptcyHelp👇#CookCountya#debtrelief-#leederslawB#FreshStartlp #CookCounty #DebtRelief #LeedersLaw #FreshStart ... See MoreSee Less

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