Chicago Chapter 7 Bankruptcy Attorneys
Serving Cook, Will, Grundy, DuPage, Kendall, Kane, LaSalle, and Lake Counties.
A Chapter 7 bankruptcy is sometimes referred to as a straight liquidation or a “Fresh Start.” It can eliminate the majority of debt. Chapter 7 bankruptcy is a way for people to take control of their financial situation and get the FRESH START they deserve by wiping away debts.
Chapter 7 does not eliminate all types of debt. For example, if you want to keep a house or car, you must continue to make the payments. A Chapter 7 will not eliminate student loans, child support and some tax liabilities.
The Filing Process
Usually there are no court appearances in a Chapter 7 bankruptcy. Once your case is filed, you will have to appear at a meeting with your court appointed trustee. An attorney from our office will be there with you to guide you through the meeting. The meeting is referred to as a Section 341 meeting (or a Meeting of Creditors) and is very quick and informal, taking place approximately five weeks after your case is filed. You generally will receive your Discharge Papers three months after that meeting.
