Personal Bankruptcy

i-random4If you are dealing with unmanageable debt, you are not alone. Each year, roughly 2.5 million Americans must make the same choice you are facing: whether or not to file bankruptcy. By filing for bankruptcy, you may be able to discharge most of your debts. Additionally, once you have filed, harassment from creditors, wage garnishment and foreclosures stop immediately.

As a La Grange personal bankruptcy attorney, I have spent the last several decades working very closely with clients who were navigating bankruptcy proceedings. I am attorney David P. Lloyd, and I can help you get a fresh start.

What Do Chapter 7 And Chapter 13 Bankruptcy Offer?

In general, individuals facing bankruptcy have two basic options: Chapter 7 and Chapter 13 bankruptcy. Through Chapter 7 bankruptcy, it is possible to discharge all debts and pay nothing to creditors. Some debts, like student loans and child support payments, are not dischargeable debts in Chapter 7 bankruptcy. Chapter 7 bankruptcy involves liquidation of assets by a trustee. However, many assets are exempt from liquidation. It is possible that most if not all of your assets will be exempt.

In Chapter 13 bankruptcy, you will be given time to catch up on past-due payments for things like auto loans and mortgages. Additionally, Chapter 13 allows you to protect assets that would otherwise be sold in a Chapter 7 proceeding. Chapter 13 can help you retake command of your financial life and allow you to start over in a powerful way. Through Chapter 13, it is possible to discharge debts that cannot be discharged in Chapter 7, and it also offers the opportunity to prevent foreclosures and repossessions.

If you own a business that is facing bankruptcy, I can handle Chapter 11 proceedings as well.

Contact Cook County Chapter 7 And 13 Bankruptcy Lawyer David P. Lloyd Today

Plant the seed today for a fresh start tomorrow. By scheduling a free consultation with David P. Lloyd, Ltd., online or by telephone at 708-937-1264, you can work directly with an Illinois lawyer who knows bankruptcy and how it can unearth new potential. There is no need to hesitate in getting information that addresses your unique needs. I look forward to hearing from you.

My firm is a debt relief agency. I help people file for bankruptcy relief under the Bankruptcy Code.