Helping People Hit Restart On Their Finances
For some people, the best way to reorganize their finances is by completely cleaning their slate. Our lawyers at Springer Larsen Greene, LLC, have been handling Chapter 7 bankruptcy cases in Illinois for decades, and they lean on that experience to bring you peace of mind.
Hiring A Bankruptcy Attorney
The first step to filing for Chapter 7 bankruptcy is to hire an experienced attorney to represent your interests. Our lawyers have been practicing bankruptcy law for many years and have assisted clients of all types. They will meet with you to discuss your financial situation and help you determine if Chapter 7 bankruptcy is right for you. If you are not eligible for Chapter 7 bankruptcy, Chapter 13 bankruptcy or reorganization, there may be other viable options.
Understanding Chapter 7 Bankruptcy Procedure
If you choose to go forward with Chapter 7 bankruptcy, our firm will file a petition on your behalf in bankruptcy court. The court will then appoint a trustee to oversee your case. Once you file a petition, an automatic stay goes into effect, and all debt-collection activity must stop. Before your debts get discharged, you must complete a financial management course and attend a 341 meeting, also known as the “first meeting of creditors.” This meeting, which is rarely attended by creditors, is fairly routine. Approximately two to three months later, the court will discharge your debts.
Debts that can get discharged in Chapter 7 bankruptcy include:
- Credit cards
- Personal loans
- Medical bills
- Judgments and lawsuits
- Utility bills
- Payday loans
Debts that cannot get discharged in Chapter 7 include:
- Child support and maintenance (domestic support obligations)
- Student loans
- Federal and state income taxes (less than three years old)
- Government fines and fees
- Criminal fines
- Intentional torts
- Traffic and parking tickets
- Illinois Tollway fines
Have additional questions about filing for Chapter 7? Visit our FAQ page to learn more.