Do I Qualify for Bankruptcy?
If you have lost your job, gone through a divorce or incurred substantial unexpected medical expenses, you may be asking yourself, "Do I qualify for bankruptcy and, if so, what are my options?" You may have heard that the laws changed recently, but may be uncertain how that might affect you. You want an experienced attorney to carefully review your case, and help you understand your rights and options.
At the Debra Levine Law Offices, we bring more than 14 years of experience to people in northern Illinois who have questions or concerns about bankruptcy. We believe that bankruptcy is more than just an opportunity to get a new financial start: We see it as the first step in a new financial direction, helping you to forge a secure financial future. Since 1996, we have helped thousands of people improve their financial health through bankruptcy.
Your Options in Bankruptcy
If you are considering filing for personal bankruptcy, you generally have two options: the permanent discharge of certain debts under Chapter 7; or the reorganization of debt under Chapter 13. In a Chapter 7 filing, you are allowed to permanently wipe out some of your obligations in exchange for the sale of nonexempt assets. In a Chapter 13 petition, you get the opportunity to work out new payment arrangements with your creditors, agreeing to restructure debts over a three- to five-year period. In both instances, you are entitled to the protection of the automatic stay, which prohibits creditors from calling, writing or taking legal action to collect the debt.
Under the 2005 revisions to the bankruptcy laws, you must now submit to a "means test" in order to qualify to file under Chapter 7. The provisions of the means test can get complicated. We will carefully walk you through the test to determine eligibility, and will prepare and file all documents required to complete the process.
Contact Debra Levine Law Offices
We offer a free, initial consultation to every client. To schedule a private meeting, contact us online or call our office at 312-957-8408 (toll free at 866-832-0854). We answer our phones 24 hours a day, seven days a week. We will set up appointments evenings and weekends, upon request. We charge affordable fees for all services provided.
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We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
