If you are facing a large debt burden, filing for Chapter 7 bankruptcy may allow you to completely eliminate that debt. Chapter 7 bankruptcy, also known as "debt liquidation," wipes out unsecured debt, such as credit card and medical bills, while protecting consumers from creditor actions like harassment, wage garnishment and vehicle repossession.
At the Sulaiman Law Group, LTD, we have extensive experience helping clients throughout Chicago and the surrounding suburbs with Chapter 7 bankruptcy proceedings.
Contact us today online or by telephone at 630-413-9054 to speak with an experienced Chicago Chapter 7 bankruptcy lawyer.
Is Chapter 7 Right for You?
Many people who are considering Chapter 7 bankruptcy worry that they will lose their property by filing. In fact, as many as 90 percent of all Chapter 7 bankruptcies are "no-asset" cases, meaning the filers do not lose any property at all.
The law allows you to keep property, such as your house, car, clothing and household goods, within certain limits, called exemptions. Any property you own that lies outside of those exemptions may be sold by the bankruptcy trustee to pay off your creditors. Again, the majority of people who file for Chapter 7 have no qualifying assets and, therefore, lose little or no property.
Chapter 7 Stops Creditors
Chapter 7 bankruptcy enacts the automatic stay, a legal injunction that stops creditors from taking legal action against you and from even contacting you at all. The automatic stay is enacted the moment you file. If your bankruptcy is successful, your debt should be discharged within four to six months after filing.
Our attorneys will fully review your circumstances to help you decide if Chapter 7 bankruptcy is right for you. If you do not qualify for Chapter 7, you may wish to file for Chapter 13 bankruptcy or explore other debt relief options. The choice is yours. We are here to offer legal guidance and to help you achieve your debt relief goals.
Contact Us · Illinois Liquidation Lawyers
Are you considering filing for Chapter 7 bankruptcy in Illinois? Contact us today online or by telephone at 630-413-9054 to speak with an experienced Chicago bankruptcy attorney.














