Bankruptcy Attorney
Understanding Chapter 7 Bankruptcy

Chicago Chapter 7 Bankruptcy Lawyer

Free Consult: (312) 957-8077

Chapter 7 is an option that enables to you obtain immediate debt relief and regain financial stability with a fresh start. With Attorney Joseph P. Doyle, you can count on benefiting from time-tested advice and dedicated counsel to help you determine your best option for debt relief, navigate each step of the bankruptcy process, and reach financial freedom.

Why Choose Our Chapter 7 Bankruptcy Attorney?

  • 1,000s of Clients Helped
  • Focused 100% on Bankruptcy Law
  • Tailored Approach to Each Case

Contact us today for a FREE case review!

Your Property in Chapter 7 Bankruptcy

Chapter 7 bankruptcy eliminates most if not all your debts, but this can involve liquidating a debtor's nonexempt assets in order to pay off creditors. However, under the bankruptcy code, the debtor will be allowed to retain certain basic assets, which are the exempt property.

Below is property that might be exempt in a bankruptcy:

  • Homestead
  • Whole Life Insurance
  • Personal Injury Payment
  • Pensions and Qualified Retirement Plans
  • Certain Personal Items (Clothing, Textbooks, Photos)
  • Motor Vehicle
  • Alimony and Child Support
  • Social Security, Unemployment and Public Assistance
  • Workers' Compensation
  • IL College Savings Pool Accounts

There is only one way to know whether or not filing for bankruptcy is the right choice for you, and that is to discuss your options with a Chicago bankruptcy attorney so you fully understand the benefits and disadvantages of each. If you initiate the Chapter 7 bankruptcy process blindly, you could find yourself in trouble later. At our firm, we fully understand the scope of bankruptcy law and can even dispel some of the common bankruptcy myths that you might have heard.

Contact a Chicago Chapter 7 bankruptcy lawyer at (312) 957-8077 today to discover your options in a FREE case evaluation!

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