Chapter 7 Bankruptcy Attorney

Chapter 7 Bankruptcy Attorney
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180 W Washington Street
Chicago, Illinois 60606
Business Category
Legal » Legal Services
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About Chapter 7 Bankruptcy Attorney

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A Discharge Under A Chapter 7 Bankruptcy Releases An Individual Debtor From Personal Liability For Most Debts And Stops The Creditors Owed Those Debts From Taking Any Collection Actions Against The Debtor. Chapter 7 Bankruptcy Discharge Is Subject To Many Exceptions; However, And Debtors Should Consult Competent Legal Counsel Before Filing To Discuss The Full Scope Of Rights And Options With Respect To Filing Bankruptcy. Generally, Individual Debtors Receive A Discharge In More Than 99% Of Chapter 7 Cases. In Most Cases, Unless A Creditor, Or Other Interested Party, Files A Objection, And Barring Any Other Delays In Process, The Bankruptcy Court Will Issue A Discharge Order And Close The Bankruptcy Case Within Approximately 6 Months Of The Date Of Filing. Where A Debtor Is Represented By An Attorney, Other Than The Chapter 7 Filing Appointment, The Debtor Will Generally Only Be Responsible For Attending On Required Meeting Of The Creditors- Date And Time Are Assigned Immediately After The Bankruptcy Case Is Filed. Chapter 7 Does Not Impose A Maximum Debt Limit. Consequently, You Can Discharge Any Amount Of Debt. Further, It Is A Liquidation Of Debt; Unlike A Chapter 13, You Do Not Need To Make Any Payment Or Create A Payment Plan. Chapter 7 Bankruptcies Are Also Shorter Proceedings Than Chapter 13, Usually Lasting No More Than 6 Months, As Opposed To 3 To 5 Years In A Chapter 13. Filing A Chapter 7 Petition Automatically Stops Most Collection Actions Pending Against The Debtor/petitioner: This Includes Wage Garnishments, Collection Law Suits, Foreclosures, And Even Calls From Bill Collectors. A Chapter 7 Discharge Can Eliminate All A Petitioner?s Debts. In Order To Qualify For A Chapter 7 Discharge, However, The Debtor Will Need To Satisfy A Means Test- One Of The Criteria To Qualify For A Chapter 7 Discharge Is The Debtor?s Household Income Cannot Exceed A Certain Sum, Subject To Certain Exclusions. Debtors Should Consult With An Attorney To Determine Whether They Satisfy The Means Test, And Whether Chapter 7 Is Their Best Choice.

Chapter 7 Bankruptcy Attorney in Chicago is a company that specializes in Legal Services. Our records show it was established in Illinois.

Company Address

180 W Washington Street Chicago, Illinois, 60606

Phone Number

(312) 924-0258 Call Now!

Company Website

Estimated Number Of Employees

Information not available

Estimated Yearly Revenue

Information not available

SIC Code

8111

Categories and Products

  1. Legal Services in Chicago, Illinois

Keywords

Chapter 7 Bankruptcy Attorney, Jmhlegalgroup.com
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