Illinois Bankruptcy Lawyer.com is one of the most important bankruptcy law firms based in the United States, which offers specialized services related to business and consumer bankruptcy. The firm deals with Chapter 7 Bankruptcy, Chapter 11 Bankruptcy, as well as Chapter 13 Bankruptcy.
About Illinois Bankruptcy Lawyer.com
Illinois Bankruptcy Lawyer.com mainly serves the clients of Illinois facing hard times associated with bankruptcy. The principal focus of Illinois Bankruptcy Lawyer.com is on business and consumer bankruptcy offering specialized services on Chapter 7 Bankruptcy, Chapter 11 Bankruptcy, and Chapter 13 Bankruptcy.
The principal objective of Illinois Bankruptcy Lawyer.com is to free the clients from their debts and gain financial strength through filing for bankruptcy. The attorneys and employees working under Illinois Bankruptcy Lawyer have a lot of experience in the domain of bankruptcy. Availing the services of Illinois Bankruptcy Lawyer.com may result in an absolutely new beginning in the life of the clients.
Services Provided by Illinois Bankruptcy Lawyer.com
The services provided by Illinois Bankruptcy Lawyer.com can be categorized into the following types:
Chapter 7 Bankruptcy
Chapter 7 Bankruptcy is also termed as straight bankruptcy or fresh start bankruptcy. Chapter 7 Bankruptcy enables the debtors to liquidate the majority of his debts and at the same time, he is permitted to hold specific assets, which he might own.
Chapter 7 Bankruptcy liquidates the following forms of debts:
- Medical loans
- Credit card debts
- Lawsuit debts
- Personal loans
- Personal injury debts
- Deficiency debts
Chapter 13 Bankruptcy
Chapter 13 Bankruptcy helps the debtors chalk out a debt repayment plan. In this process, all the outstanding debts are consolidated into one single debt, usually paid off within 3-5 years and easy monthly payment options are given to the debtor.
The tenure and amount of debt repayment plan are dependent on the following elements:
Monthly expenditures of the debtor
Monthly earnings of the debtors
The type and amount of debt
A debtor is discharged under Chapter 13 Bankruptcy when the payment program is accomplished.
Illinois Bankruptcy Lawyer.com
Last Updated on : 10th July 2013