Exemptions in Your Chicago Bankruptcy
Be Aware of Possible Exemptions!
Considering filing for bankruptcy is a frightening and stressful situation. When you have any experienced Chicago bankruptcy attorney on your side protecting your best interests, it is far easier for you to make the right decisions about your financial future. Chicago Bankruptcy Attorney Joseph P. Doyle is dedicated to helping clients that are facing serious financial difficulties.
We understand how disheartening the endless cycle of debt can be, and we do everything possible to ensure that individuals we help have are able to free themselves from financial troubles. Many individuals in Chicago may have the option of filing for Chapter 7 or Chapter 13 bankruptcy.
Bankruptcy can help eliminate:
- Credit card debt
- Utility bills
- Medical bills
- Other types of unsecured consumer debt
There are a variety of different types of bankruptcy that can help the individual to eliminate your overall debt. Our Chicago bankruptcy attorney can provide the guidance you need to determine best type for you. In addition, we can help in fighting foreclosure or to resolve pending lawsuits.
Debt Assistance from a Chicago Bankruptcy Attorney
There are many benefits to bankruptcy, depending on which chapter of bankruptcy is chosen. For many people, just the fact that all collection efforts cease from the moment you file is a huge relief. Our bankruptcy attorney can help you protect certain assets from liquidation and get the maximum advantage when discharging your debt. In Chicago, there are certain exemptions that should be understood if you are considering filing for bankruptcy.
Bankruptcy exemptions may include:
- Personal residences up to $15,000 for and individual or $30,000 for a couple
- Personal property including books and clothing
- Vehicles up to $2,400 in value
- Recovered damages from lawsuits, insurance, pension, child support, etc.
These exemptions allow you to keep much of your valuable personal property, or in many cases, all of it. Your situation is unique and should be evaluated by a professional Chicago bankruptcy lawyer who can help you get accurate answers. In many cases, our clients lose absolutely nothing.