Chapter 7 Bankruptcy
Chapter 7: a fresh start, without the weight
Chapter 7 can wipe out many of your debts in just a few months so you can start over with peace of mind.
✔ Bilingual attorney · ✔ 20+ years of experience · ✔ Chicago & all suburbs
How does Chapter 7 work?
Chapter 7 is known as the 'fresh start' bankruptcy. For many families, it's the fastest way to get a weight off their shoulders. If you qualify, the court can wipe out many of your debts, and in a few months you're free of them.
Debts that are usually wiped out
- Credit cards
- Medical and hospital bills
- Personal and payday loans
- Old balances in collections
What about my home and car?
A lot of people are afraid of losing everything. The truth is the law protects many things — your home, your car, your furniture, your work tools — up to certain limits. Most people who file Chapter 7 keep everything they have. In your free consultation we tell you exactly what's protected.
Behind on your house or car and want to catch up? Then Chapter 13 may be better for you. We'll help you decide.
Frequently asked questions
Who qualifies for Chapter 7?
Generally, people with lower or middle incomes. There's a simple 'means test' that compares your income to the Illinois average. We check it for you in your free consultation.
What debts get wiped out?
Usually credit cards, medical bills, personal loans, and many old balances. Some debts, like child support and most taxes, are not erased.
How long does it take?
Most Chapter 7 cases finish in about 3 to 4 months.