When an individual debtor can no longer meet his or her financial obligations, he or she may seek protection through a bankruptcy proceeding in Illinois.
When an individual files for bankruptcy, he or she will usually file for either Chapter 7 or Chapter 13 bankruptcy.
Under a Chapter 7 bankruptcy, the debtor's nonexempt assets are liquidated and his or her debts are paid off. Debts remaining after all nonexempt assets are liquidated are usually discharged.
Under a Chapter 13 bankruptcy, the debtor is put on a court-ordered payment plan. Contact a bankruptcy attorney for legal advice on filing a Chapter 7 or Chapter 13 bankruptcy.
Board Certification in Consumer Bankruptcy Law - The American Board of Certification (ABC) is accredited by the ABA to certify attorneys as specialists in consumer bankruptcy law.
NACBA serves the needs of consumer bankruptcy attorneys and works to protect the rights of consumer debtors.
Lawyer Referral Service in Chicago - The Chicago Bar Association sponsors a non-profit Lawyer Referral Service. The public service refers individuals and businesses to local attorneys in Chicago, and the surrounding areas of Cook County, DuPage County, and Lake County, Illinois. More than 300 pre-screened attorneys participate in the Lawyer Referral Service. These attorneys serve on more than 40 different subject matter panels depending on their experience in a particular practice area. The attorneys that participate in the service have an average of 20 years experience.