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Chapter 13 Bankruptcy Lawyers in Wheaton, IL

Debt Relief Attorneys Serving Glen Ellyn, Warrenville, and DuPage County

west chicago chapter 13 bankruptcy lawyers

Individuals who are in debt can apply for Chapter 13 of the bankruptcy code. Chapter 13 bankruptcy allows individuals to keep their property while they repay some or all of their debts over a period of three to five years. For individuals who earn a regular income, Chapter 13 may be the best type of bankruptcy option for them.

The bankruptcy lawyers at Anderson and Associates, P.C. understand the obstacles and difficulties that debtors face. We can help stop tenacious calls from creditors and the aggressive debt collection actions taken against you. If you owe money to credit card or loan companies, contact our attorneys to see if filing for Chapter 13 bankruptcy is the best option for you.

Eligibility Requirements for Chapter 13 Bankruptcy

In order to file for Chapter 13 bankruptcy, the party in debt must meet certain criteria such as the following:

  • Only individuals, not corporations, are eligible for Chapter 13 bankruptcy. However, if an individual is self-employed or runs a business, he or she is eligible for Chapter 13 bankruptcy if his or her unsecured debts are less than $394,725 and secured debts are under $1,184,200.
  • If the individual did not receive credit counseling within 180 days before filing for bankruptcy.
  • The debtor must have secured debts of less than $1,184,200.
  • The debtor must have unsecured debts of less than $394,725.
  • The debtor may not file for Chapter 13 bankruptcy if within the 180 days of filing, a previous petition for bankruptcy was denied due to the individual's failure to appear in court or due to the debtor's failure to comply with court orders.

If you have questions or concerns as to whether you qualify for Chapter 13 bankruptcy, contact our attorneys today.

Advantages of Filing for Chapter 13 Bankruptcy

Filing for Chapter 13 bankruptcy grants individuals several types of advantages and relief. Some of these advantages include:

  • Prevention of home foreclosure. Under Chapter 13 bankruptcy, the individual can pay off late mortgage payments over a certain period of time.
  • Protection from debt collection actions.
  • Protection for co-debtors.
  • Allows the rescheduling of secured debts and extends the debts over the time period in which Chapter 13 is in effect.
  • Protection from wage garnishment.

Individuals who are in debt should first consider filing for Chapter 13 bankruptcy before other forms of bankruptcy, like Chapter 7, because of the types of benefits and relief that Chapter 13 provides.

Dedicated Chapter 13 Bankruptcy Lawyers in DuPage County

Our bankruptcy lawyers are committed to helping clients achieve their goal of being free of debt. If you face significant debt, contact the attorneys at Anderson & Associates, P.C for high-quality legal services and representation. We have over 30 years of experience in helping individuals and their families obtain relief from debt. To begin your journey toward a debt-free life, call us at 630-653-9400 or contact us online. We serve clients in Glen Ellyn, Naperville, Warrenville, and DuPage County.

Chicago Bar Association DuPage Association of Woman Lawyers Illinois State Bar Association DuPage County Bar Association Northwest Suburban Bar Association
Schaumburg Office
Orland Park Office
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