Get Out of Debt and Get your Fresh Future in Less than Six Months.

File a Chapter 7 Bankruptcy in Chicago, IL

If you are in a position where you have a lot of debt and you can’t make any more monthly payments to your creditors, then you may want to consider a Chapter 7 bankruptcy.  Filing a Petition for Relief under Chapter 7 of the United States Bankruptcy Code is the most common form of consumer bankruptcy.  Chapter 7 Bankruptcy is a federal filing, so in Chicago, IL, our attorneys will file your case in federal court for the Northern District of Illinois.  You can check out their website here.

The Bankruptcy starts with a petition, which is essentially a stack of paperwork that tells your financial story.  It includes your current and past income, your expenses and all your debts.  In addition, it lists all of your assets.  You will decide whether to keep or surrender secured collateral.  You can decide to reject or assume leases.

A Chapter 7 bankruptcy is also known as “the liquidation plan,” because all property becomes property of the Bankruptcy Estate. A Trustee is then appointed who will determine what items will be liquidated to pay back the Creditors.  What debt remains after the liquidation will be discharged by the Court.  It takes a lot of experience and an understanding of the current trends in bankruptcy law to navigate Chapter 7 bankruptcy.  The Shimotake Law Firm, LLC is a full-service firm in Chicago, IL that can help you with every step of the Chapter 7 bankruptcy process.  Set up your free consultation for Chapter 7 bankruptcy by clicking here.

The Shimotake Law Firm, LLC will start with a free consultation to run a credit report and review your income, assets and your debts.  We’ll provide you with the pros and cons of filing a Chapter 7 and compare it to other options, including Chapter 13 and debt negotiation.  Then, if you’re ready to proceed, we’ll prepare your petition, paying attention to every detail to ensure you a smooth ride through Chapter 7 bankruptcy toward your Fresh Future!

Do you qualify for Chapter 7 bankruptcy?

You must pass a means test to file for Chapter 7 bankruptcy. You automatically pass if your current monthly income is less than the median income for a household of your size in Illinois. But even if you earn more than the median state income, you can still qualify for Chapter 7 bankruptcy. Ask a bankruptcy attorney in Chicago, IL for details.

However, just because you qualify doesn't mean you can or should file for Chapter 7 bankruptcy. That's why it's crucial to consult a bankruptcy attorney about your situation.

Contact The Shimotake Law Firm in Chicago, IL today to find out if you qualify for Chapter 7 bankruptcy and how doing so can stop creditors from harassing you.

Problems in your Chapter 7? The Shimotake Law Firm, LLC can Help!

Chapter 7 bankruptcies generally go pretty smoothly.  However, in all bankruptcies, creditors are entitled to object.  The panel Trustee and the U.S. Trustee are also involved in every Chapter 7 bankruptcy.  Ultimately, with so many factors, a problem may arise that may have not been foreseen.  In these events, the Shimotake Law Firm, LLC can be in your corner.  The Shimotake Law Firm, LLC  has experience with complex litigation that stem from bankruptcy, including:

  • Adversary Complaints
  • Post-Discharge issues with Creditors
  • Trustee Objections
If your bankruptcy hasn’t given you the relief that you anticipated, click here for a free consultation with the Shimotake Law Firm, LLC.  We’re Here to Help!