Our Goal Is To Make Bankruptcy As Affordable As Possible
One monetary mistake, a run of bad luck, like a job loss or unexpected medical expense, and you could find yourself in dire financial straits. Are you dodging phone calls from debt collectors? Is your house in pre-foreclosure or foreclosure? Maybe you’re having trouble with the IRS and need debt negotiation services. Bankruptcy, either Chapter 7 or Chapter 13, may be the solution to help you get out from underneath crushing debt, develop a repayment plan for your creditors, keep your home, and preserve as much of your assets as possible. However, one mistake in a bankruptcy filing could leave you in a worse position than you were initially. Our Lisle, IL bankruptcy lawyer is here to protect your interests and assist with your bankruptcy filing.
Madden Law LLC is a full-service law firm providing the Chicagoland area with bankruptcy services for individuals and businesses. We understand the stringent requirements for filing bankruptcy in Illinois and can help ensure that your petition is approved. As skilled negotiators, we can also help negotiate a repayment plan favorable to you. Please contact us today for a professional consultation.
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How We Help With Illinois Chapter 7 Bankruptcy
Chapter 7 is the most common kind of individual bankruptcy. It discharges almost all types of secured and unsecured debts:
- Credit card debt
- Medical debts
- Auto loans
- Mortgage debt
And more.
Chapter 7 is designed for middle to low-income individuals. Because it is income-dependent, you must pass a certain threshold to qualify, comparing your earnings against the median household income in Illinois. Most people with a household income below the median should qualify for Chapter 7 bankruptcy. However, there are certain conditions in which persons whose income is higher than the median will qualify. Our Lisle bankruptcy lawyer can help ensure that your bankruptcy petition is complete and correct and that no errors or omissions jeopardize its approval.
Legal Advice For Illinois Chapter 13 Bankruptcy
If you don’t qualify for Chapter 7 bankruptcy or if our legal team determines that Chapter 7 isn’t the best option for your needs, then Chapter 13, or the “wage earner’s” bankruptcy, may be the better option. Like Chapter 7 bankruptcy, when you file for Chapter 13 bankruptcy, an automatic stay, or order for relief, goes into effect. This prevents your creditors from demanding payment (or even calling you) while your petition is pending.
Chapter 13 bankruptcy plans consolidate your secured debts, including mortgages and car loans, plus certain unsecured debts, into a manageable repayment plan. You make one monthly payment, on time, for five years. If any debt remains at the conclusion of the repayment period, it’s discharged.
You can legally avoid foreclosure and repossession of your vehicle and begin more effectively managing your debt. We help you understand what is involved in applying for this type of bankruptcy and negotiate with your creditors for the lowest possible repayment amount, giving you some breathing room to get back on your feet again.
Our Lisle bankruptcy lawyer manages your bankruptcy petition with a personal touch. We focus on protecting your assets, including your home and car, and guide you to the correct type of bankruptcy filing. Please contact Madden Law LLC today to get started, and finds relief from crippling debt.
Types Of Bankruptcy Cases We Handle
At Madden Law LLC, we help clients throughout Lisle, IL and the surrounding communities make informed decisions about their financial future. After over twenty years of successful national and regional representation for corporations and high net worth individuals, we shifted our focus in 2025 to deliver affordable and strategic legal solutions locally. As Lisle, IL bankruptcy lawyers, we handle a variety of bankruptcy matters, offering practical guidance and dependable representation every step of the way.
Chapter 7 Cases
In Chapter 7 cases, we work with clients to eliminate most unsecured debts through liquidation. This type of case is often the right path for individuals or small business owners who meet income eligibility and are looking for a faster resolution.
Chapter 13 Cases
Chapter 13 is a reorganization approach we use for clients with regular income who want to keep their assets while catching up on overdue debts over time. These cases typically involve structured payment plans lasting three to five years.
Chapter 11 Cases
Our Lisle bankruptcy lawyers handle Chapter 11 cases for businesses and individuals with substantial assets or debts. This option allows them to restructure debt while continuing operations or protecting their property. It’s often used by those seeking long-term financial.
Small Business Bankruptcy
We assist small businesses facing financial pressure, guiding them through streamlined processes under Subchapter V of Chapter 11 when appropriate. This allows business owners to maintain control and move toward recovery with reduced costs and procedural hurdles.
Business Wind-Down And Dissolution
When reorganization is no longer practical, we help businesses responsibly wind down operations. This can involve asset liquidation, debt resolution, and compliance with state and federal obligations, minimizing risk during closure.
Creditor Representation
Our lawyers also represent creditors in bankruptcy proceedings, protecting their rights and helping recover as much as possible from debtors. We engage in claim filing, litigation, and plan review to secure fair outcomes for our clients.
Adversary Proceedings
Adversary proceedings are lawsuits filed within bankruptcy cases. We handle these for both plaintiffs and defendants, involving disputes over fraud, discharge of debts, or transfers of property.
Bankruptcy Litigation
We represent clients involved in contested matters, including objections to discharge, challenges to exemptions, or disputes over automatic stays. These cases require thorough knowledge and a focused legal strategy to defend or assert claims.
Asset Protection And Planning
For clients considering bankruptcy or anticipating legal risk, we provide legal advice around asset protection strategies. This may involve pre-bankruptcy planning and lawful structuring to avoid unnecessary loss.
Appeals And Post-Judgment Matters
We assist with post-judgment enforcement or appeals when bankruptcy rulings are unfavorable. These matters are often time-sensitive and require immediate attention to preserve rights and potential outcomes.
At Madden Law LLC, we bring experience, clarity, and practical solutions to every case we handle. Whether you’re a local business owner or an individual facing financial pressure, we’re ready to help. Contact our trusted Lisle bankruptcy lawyers today and let us work together toward a stronger financial future.