Frequently Asked Questions
(Chicago Bankruptcy Advice & Information)

How do I know if I should file for bankruptcy?
Remember that the Federal Bankruptcy Act was written to grant relief to individuals who are in debt and cannot pay all of their bills while meeting their basic living expenses. When debts are mounting, late fees are adding up, and bill collection efforts are making your daily life miserable, your best bet is to act quickly before the situation worsens.

If you are the subject of legal action including:

• Wage assignment/garnishment
• Bank account attachment
• Foreclosure
• Repossession
• Judgment
• IRS debt

A bankruptcy might grant you certain relief including stopping some of the actions indicated above. In most instances you can save your house or car from being taken from you but only if you address the issue before the action becomes final.

How do I file a bankruptcy?
It all starts with calling The Law Offices of Stuart B. Handelman. Upon receiving your telephone call, we will go through a quick question and answer session and upon concluding that conversation will be able to ascertain whether or not we can be of assistance to you or give you any bankruptcy advice. If we feel that we can help, we will invite you to schedule an appointment for a FREE BANKRUPTCY CONSULTATION. We will also ask you to provide some basic information—Confidential Financial Profile.

In your consultation we will perform a detailed analysis of your budget by evaluating your income, expenses, debt history and debt-to-income ratio, as well as whether or not you have had any previous bankruptcy filings. Upon completing that analysis, we will present you with all of your options. Often, other law firms specialize in one area of advice on bankruptcy or another. In some instances, those firms may try to fit your situation into their particular area of expertise. Because we handle all areas of debt relief, you can be assured that we will help you consider all viable options.
Upon completing your consultation, we will walk you through the filing procedure if indicated. You will walk out of our office being fully informed as to what you can expect every step of the way.

Arrange your FREE BANKRUPTCY CONSULTATION today at one of our four convenient locations.

What does it cost to file a bankruptcy?
There are three costs associated with filing for bankruptcy. The first cost is the attorney fee. No two cases are indentical, therefore we cannot quote a flat fee.  There are different types of bankruptcy and within those categories, there are different efforts required to prepare petitions, schedule meetings, negotiate with creditors, etc. In every instance, you will know what the attorney fee is before you make a decision to retain our services. When you meet with the attorney for your free consultation you will be quoted a fee and given a copy of any agreement before you leave the office.

The second cost is for mandatory credit counseling in both Chapter 7 and Chapter 13 bankruptcy cases. You can undergo counseling either via phone or online. On average, the cost is around $50 for a single person, $75 for a married couple.

The third fee is the court’s filing fee. This payment must be made in the form of cash, cashiers check or money order. When paying by cashiers check or money order, the payee name should read "Clerk of the U.S. Bankruptcy Court." The court does not accept personal checks.

The current filing fees, subject to change, are:
Chapter 7 Bankruptcy: $299
Chapter 13 Bankruptcy: $274