Chapter 7 Bankruptcy

A Chapter 7 bankruptcy case is the most common chapter filed by consumers in debt.

Most people who file for chapter 7 bankruptcy are able to keep their home and cars.  They can keep their pensions, 401(k)’s and they can keep their furniture.  In fact, most people keep everything they own when they file bankruptcy, however, there are some exceptions to this.  Each state has ‘exemptions’ which are state laws enacted to protect certain assets of a debtor when they file bankruptcy.  These statutes are complicated, with many requirements and loopholes, so your bankruptcy attorney should be well versed and knowledgeable about the Illinois exemptions that can affect your case. The attorneys at Leeders Law have filed thousands of cases just like yours.  We have the experience and knowledge to properly educate you about your bankruptcy case.  Call today to speak with a bankruptcy lawyer at Leeders Law today.  We will give you a free consultation and review all of the options you have available based on your individual case.

Here are a few things Chapter 7 could do for you:

  • Stop harassing creditor phone calls
  • Stop garnishments and wage assignments from being deducted from your paycheck
  • Stop creditors from suing you
  • Stop the freeze on your bank account
  • Stop utility shut off and can re-establish service
  • Stop the suspension of your driver’s license for unpaid tickets or accident claims
  • Discharge hundreds and thousands of dollars of debt
  • Discharge certain tax liability
  • Discharge all of the penalties and the doubling and tripling amounts of parking tickets
  • Get a better payment plan and interest rate on certain car notes
  • Get a better payment plan for your furniture, appliances, jewelry and electronics
  • Remove judicial liens on your home
  • Discharge your obligation for any cosigned debt
  • Discharge certain over-payments of government debts, like unemployment and public aid