Chapter 13 Bankruptcy Lawyer Lisle, Illinois
Resolve Your Personal Debts With Our Experienced Bankruptcy Attorneys
The economic climate is uncertain, and even people who are scrupulous about their finances may actually be one unfortunate accident or mistake away from financial ruin. An unexpected job loss, divorce, death of a close family member who provides for you, or a devastating injury or illness can quickly derail your financial security. If you’re over your head in debt, worried about losing your home, and scared that creditors are going to seize your bank accounts and property, turn to our experienced Lisle, Illinois Chapter 13 bankruptcy lawyer.
At Madden Law LLC, we provide insightful, client-focused bankruptcy advice and assistance. We can help you understand the difference between Chapter 13 and Chapter 7 bankruptcy so you can determine which is right for you, develop a repayment plan for debts you cannot discharge, and protect as much of your assets as possible. Contact us to learn more about how we can help you find debt relief.
How Our Lisle Chapter 13 Bankruptcy Lawyers Protect You
Many people opt for Chapter 13 bankruptcy because they have received a pre-foreclosure notice on their home, or their house is already in foreclosure. We can help stop these proceedings and give you a little breathing room and time to determine the best next steps. If this situation applies to you, know that we are committed to helping you stay in your house, keep your equity, and achieve a compromise with your lender.
Maybe you have thousands of dollars, or even tens of thousands of dollars, in unsecured debts, and you cannot possibly pay them back. A Chapter 13 bankruptcy filing may help, in that you can discharge many debts and create a reasonable plan for repaying the rest. If you have seriously delinquent payments for assets like a vehicle or other secured loans, we can negotiate with the lender on your behalf and include the repayment plan as part of your Chapter 13 filing.
We know that you’re busy trying to work to pay back your debts, or you may even be struggling to find a job. As a full-service bankruptcy law firm, you can trust our attorneys to handle all the legal aspects of your bankruptcy filing. We ensure that all the forms are properly filled out, so there is no delay in the process or denial of your petition. And, we can even communicate with creditors on your behalf, negotiate a repayment plan you can realistically commit to, and alleviate much of the stress and worry you’re feeling.
Are You Eligible For Illinois Chapter 13 Bankruptcy?
Not everyone is eligible for Chapter 13 bankruptcy in Illinois. It’s specifically intended to provide relief and time for people in debt so that they can get help financially stabilizing themselves and begin repaying creditors.
It differs from Chapter 7 bankruptcy in that it’s better for people with steady incomes and a commitment to paying their debts. You can consolidate all your creditors into one lump sum, then make one monthly payment that you can afford with what you’re earning. You have a specific time period for repayment, but you must make every payment on time. At the end of your repayment plan, the remainder of your debts may be discharged.
If you owe more than you can repay, Chapter 13 bankruptcy may be right for you. Please contact Madden Law LLC for a consultation with our Lisle Chapter 13 bankruptcy lawyer.