Chapter 7 Bankruptcy

What is Chapter 7 Bankruptcy?

Chapter 7 is also known as “straight,” “complete,” or “liquidation” bankruptcy.  If you’re drowning in debt and being hassled by bill collectors, Chapter 7 can give you a fresh start. We will work closely with you and the courts to file the correct paperwork to ensure a speedy and accurate filing, while a court-appointed trustee will act as executor of the sale of your assets.  We are also staffed with a full time paralegal, strictly for bankruptcies.

We take pride in the personal interaction we have with our clients in the Northwest Suburbs (including Rolling Meadows, Arlington Heights and Schaumburg) and will take you through the entire process so that you never feel alone.

How Do I File for Chapter 7?

At The Law Offices of Dwight C. Adams, we understand that you’re tired of being harassed by predatory lenders and disreputable collection agencies. We’ll begin the process with a free consultation to examine the details of your financial situation. There are strict rules that you must follow in order to file for Chapter 7, and our attorneys are well versed in this area of law.

In 2005, the federal government overhauled Chapter 7 with the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCA). This act implemented several new rules regarding income restrictions and debt limitations for bankruptcy filings. Under the new laws, you must pass a “means test” before you can qualify for Chapter 7 Bankruptcy. Individuals, married couples, corporations and partnerships must meet a minimum income and debt standard in order to qualify for Chapter 7. Additionally, you must attend a mandatory credit counseling session at a government-approved location prior to filing.

If you’re considering filing Chapter 7 bankruptcy, contact The Law Offices of Dwight C. Adams at (847) 818-8060 or by email. We are sensitive to the financial struggles of hardworking Illinois residents and we will work diligently to give you a financial fresh start. We’re so invested in helping you that you can even call Dwight on his cell phone at (847) 361-9484. Se habla español.