Illinois Chapter 13 Bankruptcy Lawyer
Are you faced with a serious debt problem and are considering bankruptcy? Perhaps you have looked into Chapter 7 to eliminate your debt but don't qualify under the bankruptcy means test? At the Law Offices of Chad M. Hayward, P.C., we have helped thousands of people in Chicago and Illinois get a fresh start from the heavy burden of debt. Call to arrange a free initial consultation with attorney Chad Hayward. We will answer your questions and provide a clear explanation of the bankruptcy process, including costs and length of time it takes.
We Keep Your Part of the Process Simple
Every Chapter 13 bankruptcy is unique because of the personal debt accumulated and the number of creditors seeking repayment. There is complex legal maneuvering that takes place behind the scenes for attorneys involved on both sides. Generally speaking, for the individual or family filing bankruptcy, the process is simple and follows a pattern:
- The bankruptcy means test: Every individual or family filing for bankruptcy must submit their financial information to a calculation that determines the ratio of income to debt. If your income or resources are too high to make you eligible for Chapter 7, you will still qualify for Chapter 13 under most circumstances. If you decide to hire us, we will require an affordable retainer and will set up an appropriate payment option for legal fees and court costs. We will require you to submit all credit and income information, including the names, account numbers and contact information for each creditor.
- Stop creditor harassment: The day you retain us, you can start telling creditors and bill collectors that they must deal directly with your lawyer. Simply give them our name and phone number. Under rules of the federal Fair Debt Collections Practices Act, your creditors or their authorized agencies may not contact you directly again. If they do, you are entitled to file a lawsuit against them for violating your rights.
- Filing your claim: When we have all of your financial information in hand, we will begin the process of filing your petition. Your creditors will be notified, and we will begin negotiating a payment plan to submit to the court for approval. This step can take several months, as creditors request further information and determine whether they wish to accept terms of your offer for a reduced repayment amount or interest rate. We handle everything.
- Submitting your proposal: When creditors have had their say and we come to an agreement, we formally submit a petition to the courts to consider a supervised plan of restructured debt, as approved by creditors.
- Final resolution: The local bankruptcy judge in your district will hear final arguments and details of the petition in a final hearing. We handle everything. Unlike Chapter 7, in which you will have a meeting of the creditors, you may not even be required to meet with your creditors face-to-face. It generally takes about two more months for the judge to issue a final approval of the plan and assign your case to a bankruptcy trustee to supervise repayment.
Learn more about the Chapter 13 process and the options you have for getting out of debt. Talk to attorney Chad Hayward today.
Free Consultation · Se Habla Español · Credit Cards · Payment Plans May Be Available
If you are ready for a fresh start, we are ready to help. Illinois bankruptcy attorney Chad Hayward represents clients in the Chicago metro region and communities throughout Illinois.
Reach us to schedule an appointment at any one of our local community offices by calling 312-546-4689 or toll free 888-804-8641.
Chicago
Aurora
Joliet
Schaumburg
Palos Heights
Northbrook
Oakbrook
St. Charles
You can also contact us by e-mail with a brief description of your legal problem. We look forward to helping your family get the fresh start from debt you need and deserve.
