When you're living under a mountain of debt, preparing for the future can seem nearly impossible. It takes all your energy just to overcome the latest financial crisis. If you're ready to get out from under your debt and start fresh, turn to John H. Redfield for bankruptcy law services. You can trust attorney Redfield to help you file for Chapter 7 bankruptcy in the Barrington, IL area, so you can start planning for the future again. Chapter 7 bankruptcy can offer you a fresh financial beginning where most of your debts are discharged. Filing for a Chicago Chapter 7 bankruptcy forces creditors to immediately stop calling and harassing you. Chapter 7 seldom requires the sale or liquidation of assets, including your automobile.
John H. Redfield is a Chicago metro area bankruptcy lawyer with more than 40 years of experience as a CPA, bankruptcy trustee and attorney. The first step in any case is determining which variety of bankruptcy is right for your situation, and this is where there is no substitute for real-world experience.
If you choose to work with our team of legal professionals, we will work hard to make your Chapter 7 bankruptcy as painless, simple, and affordable as possible. We work directly with individuals, business owners, and homeowners who find themselves unable to recover from uncontrollable debt and just want a chance at a fresh start. Call 847-382-1220 today to schedule a consultation with an experienced Chapter 7 bankruptcy attorney in Barrington, IL. With over 4 decades of experience as a bankruptcy trustee and attorney, John H. Redfield can help with your Chapter 7 bankruptcy.
The decision to file for Chapter 7 bankruptcy shouldn't be made lightly. If you're not sure whether it's the right move for you, consider these benefits:
If you're looking for a way to unburden yourself from crippling debt, then a Chapter 7 bankruptcy could be the answer you're looking for. Indeed, once you fall behind on bills, it can be difficult to get back ahead. This is especially true if you've suffered an illness or an accident that leaves you unable to work.
Adding insult to injury, creditors begin to harass you at all times of the day and night, increasing your stress level, and making it seem like you'll never get back in the black financially.
A Chicago Chapter 7 bankruptcy resolves many of these issues by starting you along a new path toward fiscal solvency. When you file for a Chapter 7 bankruptcy, creditors must immediately stop contacting you, which will quickly eliminate some of the burden you're carrying.
Additionally, Chapter 7 bankruptcy seldom results in the liquidation of your assets, which means you may be able to keep your home and your vehicle. Much will depend on your home's equity amount, so this is something you definitely want to discuss with your bankruptcy lawyer.
Arguably, the most beneficial aspect of Chapter 7 is that your debts are discharged, allowing you to enjoy a fresh start financially.
Many Chicago families considering whether to file for bankruptcy are unsure whether Chapter 13 is a more viable bankruptcy option. Your attorney will help you discern which variety of bankruptcy would be better financially, but Chapter 13 is designed for married couples and individuals who need to pay taxes, save their home, or other special circumstances. Persons who do not pass the means test may also qualify for a Chapter 13 bankruptcy.
For a full explanation of Chapter 13 bankruptcy, please review our webpage dedicated to the subject. You need sound legal guidance to determine if a Chapter 13 or Chapter 7 bankruptcy is best for your situation, so contact us today and speak with an experienced attorney who is well versed in bankruptcy law.
We are fully capable of handling complex Chapter 7 corporate bankruptcy cases, and as a former bankruptcy trustee and CPA, John H. Redfield offers an insider's perspective on the methods used by trustees to collect money when a business files for bankruptcy relief in Illinois.
However, an attractive alternative to a corporate bankruptcy is a corporate dissolution. Because there is no discharge of debt with corporate bankruptcy, a corporate dissolution offers more flexibility, no court supervision, lower overall costs, and less chance of litigation against the preferred creditors or owner.
If you own a corporation in Illinois that desires to dissolve, you are required to file Articles of Declaration with the Secretary of State. Once approved, a bar notice is sent by your attorney to creditors. The corporation must also wind up its business.