How to file Chapter 7 Bankruptcy in Illinois

How to File Chapter 7 Bankruptcy in Illinois

Chapter 7 bankruptcy is a process available to individuals in Illinois to discharge (wipe out) most of their debts and receive a fresh start. When you file for Chapter 7 bankruptcy, an automatic stay is put in place that prevents creditors from contacting you. The process typically takes a few months to complete and involves the appointment of a trustee to review your case and conduct a 341 meeting (first meeting of creditors) where the trustee will question you about your debts and assets. In order to receive a discharge, you must also complete a financial management course.

Nondischargeable Debts

Some debts, such as most taxes, alimony, child support, and student loans, are not dischargeable in Chapter 7 bankruptcy.

Reaffirmation Agreements

If a creditor asks you to reaffirm a debt, it means you are promising to repay it even though it may otherwise have been discharged in your bankruptcy case. A reaffirmation agreement is usually used for houses and cars you want to keep.

Do I Qualify for Bankruptcy - The Means Test

To qualify for Chapter 7 bankruptcy in Illinois, you must pass a means test that considers your monthly income, household size, and expenses.

Chapter 7 Bankruptcy Attorneys serving DuPage, Kane, Kendall and Will Counties

Attorney Bradley S. Covey helps individuals file chapter 7 and chapter 13 in Kane, DuPage, Kendall, Will and LaSalle Counties in Illinois and has offices in Batavia-Aurora, West Dundee-Elgin, Wheaton-Naperville, and Plainfield-Joliet.