Bankruptcy

Chapter 7 Bankruptcy

GET A FRESH START!

The attorneys at the Law Office of Maggie Aguilar have successfully helped thousands of clients throughout the Chicagoland area to rid themselves of debt, gain peace of mind and get a fresh start. We help residents of the following counties and cities: Cook County, DuPage County, Will County, Chicago, Joliet, Wheaton, among others. Let our bankruptcy lawyers help you, too.

Chapter 7 Bankruptcy Wipes Out Your Debt.

A Chapter 7 filing is often the quickest way to wipe out your debt. The filing of a Chapter 7 petition stops harassing phone calls, collections and garnishments.

What Debts Are Discharged in Chapter 7 Bankruptcy?

A Chapter 7 usually wipes out the following debt(s):

  • Credit Cards
  • Personal Loans
  • Medical Bills
  • Judgments and Lawsuits
  • Utility Bills
  • Repossessions
  • Payday Loans

What Debts Are Not Discharged in Chapter 7 Bankruptcy?

Certain debts are not wiped out even through a Chapter 7 filing. These debts include:

  • Child Support and Alimony
  • Student Loans
  • Income Taxes
  • Municipal Fines
  • Criminal Fines
  • Intentional Torts
  • Parking Tickets
  • Toll Way Fines

If I File Chapter 7 Bankruptcy, Can I Keep My Home?

Yes, as long as you are able to make your monthly mortgage payments. In fact, you may even be able to keep your car. Call our bankruptcy attorneys to find out what other property and accounts you may be able to keep (known as exempt property).

 

Chapter 13 Bankruptcy

What is a Chapter 13 Bankruptcy?

A Chapter 13 Bankruptcy involves the repayment of debt. Under a Chapter 13 Bankruptcy Debt Repayment Plan, individuals repay all or a portion of their debt over a three to five year period of time. During the repayment period, creditors are prohibited from collection activities. Filing Chapter 13 Bankruptcy will stop foreclosures and repossessions. As with a Chapter 7 filing, some debts may not be discharged in a Chapter 13 Bankruptcy.

Chapter 13 Bankruptcy is right for you when:

  • You want to keep your home and/or your car. A Chapter 13 Bankruptcy will allow you to catch up on missed mortgage and/or car payments..
  • You do not qualify for Chapter 7 Bankruptcy.

What is best for me?

Chapter 7? Chapter 13? Maybe bankruptcy is not right for you at all. Call us today for a free consultation. We at the Law Office of Maggie Aguilar know well that persons facing financial hardship — and overburdened and whelmed by debt —  are not in the best condition to pay a bankruptcy lawyer. Therefore, we sometimes place our our clients on a payment plan. Call us today and feel better.