Guidance Through Chapter 7 Bankruptcy in Southern Illinois
Many people struggling with debt who visit the Law Office of John M. Delaney, Jr. are dealing with threatening phone calls from creditors seeking to collect on their debts. They are afraid they will lose their car, their home and their belongings. The stress makes it difficult to find solutions and is causing problems in their family life.
For debt-relief guidance, call 618-717-4033 or toll free at 866-574-8283. E-mail our East Alton, Illinois, law office.
At the East Alton, Illinois, Law Office of John M. Delaney, Jr., we have helped hundreds of clients overcome debt challenges by filing for Chapter 7 bankruptcy in Central and Southern Illinois. Bankruptcy attorney John M. Delaney, Jr. has spent the majority of his 28 year legal career helping people in trouble overcome their difficulties. He is a compassionate, caring and experienced lawyer who can guide you through the bankruptcy process with a minimum of stress.
What Can Chapter 7 Do for You?
Chapter 7 bankruptcy, sometimes referred to as liquidation, is a way to end the cycle of debt and get your finances back under control. It wipes out most unsecured consumer debt, with some exceptions. This means that if you are carrying credit card debt or medical debt and interest, these can potentially be eliminated, or discharged in bankruptcy terms. In the majority of cases that our lawyer handles, his clients are allowed to keep most, if not all, of their belongings.
Those facing a Chapter 7 Bankruptcy are allowed to keep certain property from creditors, these are called Exemptions. Here are the Illinois Exemptions, per individual:
Homestead/Residence
$15,000 exemption for residence (includes farm, condominium, personal property, or cooperative);
Wages
85 percent of weekly earnings are exempt;
Automobiles
$2,400 of the value of one motor vehicle;
Other Property
100 percent of the necessary wearing apparel, bible, school books, and family pictures of the debtor and the debtor's dependents;
$1,500 in implements, books and tools of the trade;
$4,000 covering any other personal property of the debtor;
A payment of up to $15,000 for personal injury;
Any Workers Compensation Award.
Immediately Stop Foreclosure and Other Creditor Actions
A Chapter 7 bankruptcy filing will immediately stop creditor harassment, foreclosure, repossession of your car or belongings and wage garnishment. It is important that you file for bankruptcy or at least seek a free initial consultation with a bankruptcy lawyer so that you can understand your rights and have more control over how you get out of debt.
Reaffirm Your Mortgage or Release It
If you are behind in your mortgage payments, it may be wise to liquidate your interest in your home. An experienced bankruptcy lawyer such as John M. Delaney, Jr. can help you determine what your most sustainable path may be.
We also handle legal matters related to divorce and criminal law.
Free Initial Consultation With Experienced Bankruptcy Lawyer
Get back on the path to financial freedom by calling 618-717-4033 or toll free at 866-574-8283. Contact us online.
"We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code."
