Chicago, Illinois, Bankruptcy Attorneys for Debt Relief
Facing financial instability can be difficult. Sometimes, financial problems are beyond the control of the people they affect. Injuries and illnesses, unexpected debt and business problems all can contribute. At the Chicago law offices of Dranias, Harrington & Wilson, our legal team helps clients create solutions to their financial problems through bankruptcy.
There are several forms (or "chapters") of bankruptcy available. Different people may be eligible for different types of bankruptcy. In deciding which one is right for you, there are important things to take into consideration. What should you do if you are behind on your mortgage or car loan? What if you owe back taxes? If you have valuable property you'd like to keep? At Dranias, Harrington & Wilson, we can help you decide which plan is best for you:
- Chapter 7: Chapter 7 bankruptcy is a "liquidation" form of bankruptcy where all nonexempt property is sold and the profits are distributed to creditors. Unfortunately, due to recent changes in bankruptcy law, filing for this option is more difficult.
- Chapter 11: Chapter 11 bankruptcy is most commonly used by businesses, where the bankruptcy court authorizes a reorganization of a company's financial obligations.
- Chapter 13: Chapter 13 bankruptcy allows debtors to establish an interest-free repayment plan to pay back their creditors over a span of years.
Contact Us
Are you considering filing for bankruptcy? Contact the experienced lawyers at Dranias, Harrington & Wilson by calling our Chicago law office at (312) 641-3518 or by completing our online intake form.
