Chapter 13 bankruptcy does not eliminate debt in the same manner as Chapter 7 bankruptcy. Instead of eliminating debt automatically, a person in Chapter 13 will create a repayment plan that is designed to fit the ability to pay. Changes to the bankruptcy laws in 2005 were largely intended to get more people to file for Chapter 13 bankruptcy, which can still be an option for those who do not qualify for Chapter 7 or who have debts that cannot be discharged through Chapter 7 bankruptcy.
At the Law Office of Ernest B. Fenton P.C., our lawyers assist individuals and families through the process of Chapter 13 bankruptcy. Our firm will fully evaluate your financial situation to determine if it is your best option, and if it is, we will help you complete the process in an effective manner. This includes helping you with the creation of a debt repayment plan that matches your needs and circumstances.
Contact our Chicagoland area law firm to speak with attorney Ernest B. Fenton at a law firm with a proven record of success in bankruptcy and foreclosure defense.
Financial Reorganization and Bankruptcy Attorney in Orland Park
One of the most important things to have during the bankruptcy process is knowledge — knowledge of the bankruptcy tools that can help you to achieve effective debt relief and knowledge of how the process works. Chapter 13 bankruptcy also has certain qualifications, which are generally less restrictive than Chapter 7, since people in debt will still have to pay off existing debts rather than having them eliminated.
We can educate you on any aspects of bankruptcy that you do not understand, including any exemptions or strategies that can protect your home, car and other important property.
Contact a Cook County Chapter 13 Bankruptcy Attorney
It costs you nothing to take advantage of a free, 30-minute consultation where you can discuss how Chapter 13 can help you. Call the Law Office of Ernest B. Fenton P.C., at 708-365-8624 or toll free at 800-416-9387 to schedule an appointment at our Homewood, Illinois, office.
