Legal Question in Bankruptcy in Illinois

Re: filing bankrptcy

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I apologize, but the question posted is a bit vague. There are two common types of consumer bankruptcies, Chapter 7 and 13. Generally, there are two types of consumer bankruptcies. In the first, often referred to as straight bankruptcy or Chapter 7, the idea is that a debtor�s nonexempt assets are to be converted to cash and distributed to creditors according to certain statutory rules. Under most circumstances, however, there is little or no nonexempt property to deal with and the debtor will retain all of his or her property fully sheltered from creditor harassment in order to obtain the fresh financial start. At the end of the proceeding, the debtor receives a discharge, which relieves him or her from any responsibility to pay most typical unsecured personal debts and prohibits creditors from making further attempts to collect those debts. The second type of consumer bankruptcy proceeding is frequently referred to as a Chapter 13 bankruptcy. Here, the debtor proposes a plan to repay some or all of his or her outstanding debts when sufficient income exists to support such repayment. A Chapter 13 bankruptcy often is used by consumer debtors needing to protect non-exempt assets or to save their home from foreclosure sale.

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Re: filing bankrptcy

IF you have a fixed income, you are still able to file for bankruptcy. Our fees are based on the amount of work involved in your case, and we have flexible payment plans available. In the meantime before filing, we will accept creditor calls for you while you are on the payment plan. We are flexible. We understand that you have a tight budget and wouldn't be inquiring if you had lots of money laying around. We offer free consultations to discuss the different chapters available to you, so give me a call or shoot me an email.

Thanks

Sincerely,

Terry Leeders