Will County Bankruptcy Lawyers

Attorneys for Chapter 7 and Chapter 13 Bankruptcy in Joliet, Naperville, and Bolingbrook

Many good people wind up in financial trouble because of challenging circumstances such as a job loss, an expensive medical issue, and other adverse conditions. This can lead to mounting debt with little hope of paying it back, causing enormous stress for individuals and their families. In these types of situations, one of the best ways to get back on your feet financially is through bankruptcy.

At Scheinbaum & West, LLC, we understand the financial difficulty many families face, and we are committed to providing innovative solutions to get your financial life back on track. We have in-depth experience and extensive knowledge of the bankruptcy laws, what is necessary to qualify for each bankruptcy option, how bankruptcy affects your life, and whether or not you may be a good candidate. We take a personalized approach, working closely with each client to thoroughly assess their situation so we can determine the most practical and effective path toward obtaining financial relief.

For consumers, there are two types of bankruptcy:

• Chapter 7 Bankruptcy: As the most common form of bankruptcy, the purpose of filing Chapter 7 is to get rid of most unsecured debts and give filers a fresh start. With Chapter 7, you can have debts such as credit cards, medical bills, unsecured personal loans, automobile deficiencies, payday loans, and landlord debts completely forgiven. There are a few types of unsecured debts that cannot be discharged through Chapter 7; these include student loans, child support, and most IRS debt and Dept of Illinois Revenue taxes. The Chapter 7 filing process takes about four months.
• Chapter 13 Bankruptcy: This form of bankruptcy consolidates your debts into one manageable payment. Chapter 13 debt consolidation can be used to stop foreclosures, wage garnishments, and creditor harassment, and it allows filers to repay secured debt (such as auto loans) and unsecured debt (including tax debts and past due child support), often with lower interest rates and/or at less than 100% of the balance due. Chapter 13 is a "wage earner" plan, meaning you must have income to qualify for the program. This could be from a job, a pension, Social Security, or another source. Repayment plans are usually completed in three to five years.

Benefits of Filing for Bankruptcy

Bankruptcy helps those facing financial troubles obtain a fresh start or develop a manageable plan to repay their debts. One of the greatest benefits of filing either Chapter 7 or Chapter 13 bankruptcy is stopping creditor harassment. By filing for bankruptcy, you can put an immediate end to harassing phone calls and threatening letters. You can also put an end to civil proceedings such as monetary judgments, and Chapter 13 allows you to stop foreclosure proceedings on your home.

Speak with a Compassionate LaSalle County Bankruptcy Attorney

Financial problems can put a large amount of stress on individuals and their families. The bankruptcy laws were created to help those in this situation obtain the financial relief they need to get back on their feet. Scheinbaum & West, LLC has helped thousands of individuals and families successfully navigate the bankruptcy laws, and we can do the same for you. For a free consultation with one of our skilled bankruptcy lawyers, contact our office today at 815-729-9860.

We represent clients for Chapter 7 and Chapter 13 Bankruptcy in Joliet, Will County, Bolingbrook, Plainfield, Naperville, Cresthill, Lockport, Homer Glen, Mokena, Ottawa, LaSalle County, and surrounding Illinois communities.