Palatine Chapter 7 Bankruptcy Lawyer
Obtaining a Fresh Start Through Chapter 7 Bankruptcy
When you have an overwhelming amount of debt, filing for bankruptcy can give you the fresh start you need to rebuild your finances. At The Law Offices James M. Kelly, we offer legal support and guidance for individuals and families in Palatine, Illinois, and the surrounding areas. Whether you need credit card debt relief or relief from creditor harassment, we use our 25 years of legal experience to help you regain control of your finances.
What Is Chapter 7 Bankruptcy?
Chapter 7 bankruptcy is a debt-relief method for those who satisfy the median income and the “means test” regarding their finances and available assets. It eliminates all unsecured debts such as credit card debt or unpaid medical expenses. Depending on the circumstances, debtors may also be able to stop foreclosure and keep their car and other possessions.
Should the bankruptcy trustee have to sell assets to pay off debts, under Illinois law a certain amount of the proceeds must be given to the debtors themselves. Such amounts are:
- $15,000 per person for sale of real estate
- $4,000 for personal property
- $2,400 for automobiles
Our Palatine Chapter 7 bankruptcy attorney works hard to ensure that these exemptions are followed. In all circumstances, his goal is to help you minimize your liabilities so you can concentrate on preparing for life after bankruptcy.
What We Do to Help You
Our firm assists clients to determine whether they qualify for Chapter 7 and whether it is a good option for them. Clients work directly with our lawyer, who reviews all your assets and investigates any problems that could occur with liquidation. He personally oversees the entire process, and guides you through it from start to finish.
We understand that financial difficulty often results from unforeseen circumstances such as serious injury or job loss. Whatever your circumstance, we will be your legal advocate so you can focus on recovering your financial independence.
Contact Our Firm Today
When you face overwhelming debt, contact The Law Offices of James M. Kelly either online or by calling 847-202-1616 to schedule a free half-hour consultation with our experienced Schaumburg debt relief attorney. We accept all major credit cards and offer flexible scheduling to suit your needs.
We are a debt relief agency. We help people file for bankruptcy relief under the United States Bankruptcy Code.