Illinois Chapter 7 Bankruptcy Attorney

Chicago Chapter 7 bankruptcy lawyers

Serving clients in Cook, DuPage, Lake, Kane, Kendall, McHenry and Will Counties from three convenient locations: Lombard – Bloomingdale – Chicago

Among the many forms of bankruptcy defined in the U. S. Bankruptcy Code, Chapter 7 is the most common type chosen by individuals, typically those who have few assets, unsecured and credit card debt.

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) changed the rules for filing for bankruptcy protection. Previously anyone could file for a Chapter 7 bankruptcy. However, under the new code, your income now determines whether or not you can file. In order to file for a Chapter 7, you must pass a Means Test in one of two ways:

You must be able to show that your income is below the median income for your state as shown by the Census Bureau. As of Jan. 1, 2008, the median family income for Illinois by family size is: 1 wage earner Illinois $43,436
2 people: $54,979
3 people: $64,763
4 people: $75,484*
*Add $6,900 for each individual in excess of 4.
If you earn above the median income, you may be able to meet Chapter 7 filing requirements if you can demonstrate that you have insufficient funds to make payments to your creditors after all of your "allowed living expenses" are deducted from your income.

Arrange a free consultation. Call our law firm toll-free number 630-932-9100 or Contact a Bankruptcy Attorney Online.

Additional BAPCPA stipulations for debtors filing for Chapter 7 include more proof of debt, increased documentation, credit counseling and debtor education. Debtors must undergo credit counseling from a government-approved organization within 180 days before filing for bankruptcy. To have their debts discharged, debtors must also complete a debtor education course.

All bankruptcies are federal court proceedings. In a Chapter 7 bankruptcy, your assets are turned over to a trustee who liquidates them and pays your creditors with the proceeds. The trustee will determine which assets to liquidate and which are exempt, based on federal and state statutes governing liquidation.

Although statutes may vary from state to state regarding specific exempt and non-exempt assets, in Illinois, exempt assets include:

Real or personal property, including farms, lots, buildings, condos, co-ops and mobile homes up to $15,000 (homestead exemption)
Professional items and tools of trade up to $1,500
Up to $2,400 equity in vehicles
Most retirement and pension plans
Household furnishings
Clothing, health aids, school books, family pictures, bibles
Personal injury recoveries up to $15,000
Proceeds from the sale of exempt property

Examples of non-exempt assets are:

IRS debt;
alimony/spousal support;
child support;
student loans from government organizations;
fines and penalties for law violations, such as traffic tickets;
debts for personal injury or wrongful death;
any debts not listed when filing for bankruptcy unless the creditor learns about your bankruptcy case.

If you have exhausted all other options to resolve your financial difficulties, bankruptcy may be the last possible solution. To understand the requirements of bankruptcy law and determine if the process is right for you, it is important to seek legal advice.

At the Law Offices of Steven H. Mevorah & Associates, our experienced bankruptcy lawyers will carefully review your financial situation, recommend the type of bankruptcy most appropriate in your circumstances and guide you through the complexities of filing for bankruptcy.

Getting Legal Help

If your financial difficulties have reached the point of insolvency, call our office to arrange an appointment to discuss your debt problem with a skilled bankruptcy attorney.

Three convenient Illinois offices – Lombard – Bloomingdale – Chicago
Free initial consultation
Saturday and evening appointments available

Arrange a free consultation. Call our law firm toll-free number 630-932-9100 or Contact a Bankruptcy Attorney Online.

Pursuant to 11 U.S.C. §528, Steven H. Mevorah & Associates, P.C. is considered a debt relief agency. We will proudly help you file for bankruptcy relief under the Bankruptcy Code if we believe it is in your best interest.

'Steven H. Mevorah & Associates did a very good job, taking care of my Bankruptcy. I couldn’t have asked for a better firm. I would recommend your firm to family or friends.'
- D. W.

'We would like to thank Steven H. Mevorah and Assoc. and especially [our attorney] for helping us through a difficult time in our lives. Everyone in the office was very helpful and we will recommend this firm to our friends and family.'
- J. V. & C. V.

'I would like to thank the entire staff, especially [the paralegal on our case]. She was a great help. I have recommended a client already.'
- T. C.

'I feel the services I received far exceeded my expectations for the price I paid. All of my questions were answered promptly and I was always shown courtesy in my dealings with the attorneys and staff. I would definitely recommend this firm to anyone in need of assistance.'
- K. V.

'I highly recommend Steven H. Mevorah & Associates for their consistent proficiency, professionalism and outstanding knowledge in the handling of my case. They worked hard and were so organized, which enabled them to use the correct precision in making sure that nothing was omitted. Thank you to [my attorney and his paralegal] for closing my case with an outstanding outcome. I will ALWAYS be grateful, and will recommend Steven H. Mevorah to my friends.'
- A. S.

'I have used Steven H. Mevorah & Associates twice now and they did a great job in both cases. I will definitely recommend them to any family or friend in need.'
- G. M.

'I would like to thank [my attorney and his paralegal] personally for their hard work on my case. They answered all my questions quickly and to the point. I will definitely use your law office for any future issue that I may need. [I] will also recommend you to my family and friends. Thanks again for your excellent service.'
- M. C.

'[We] just wanted to say thanks for a job well done – your staff did a great job as well. It was scary to go through that, but it turned out well. Thanks again.'
- R. U. & V. U.

'Thank you to [my attorney] & the Steven H. Mevorah & Assoc. staff. You helped my husband & I during a hard financial period; get back on track. Thank you again.'
- C. W.

'Thank you very much for all of your help, your staff was great.'
- R. A.

'Steven H. Mevorah & Associates made a difficult situation fast and painless. I truly appreciate their help and expertise. I would definitely recommend their services.'
- M. B.

'I would like to thank [my attorney] with Steven Mevorah & Associates for all my legal needs. He helped me understand options I had with my case. He answered all my questions no matter how big or small. I will definitely use Steven Mevorah & Associates with any future legal needs. Thanks again. You Rock!'
- B. R.

'I would like to thank my attorney for the efficient, timely manner in which he handled my case. He answered my questions and put me at ease. This is the second time I have used Steven H. Mevorah & Associates and would do so again.'
- D. S.

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The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your individual situation. We invite you to contact us and welcome your calls, letters and electronic mail. Contacting us does not create an attorney-client relationship. Please do not send any confidential information to us until such time as an attorney-client relationship has been established and as any information submitted could be used by us in the event we represent an adverse party now or in the future. Legal advice cannot be given without full consideration of all relevant information relating to the visitor’s individual situation for which a full consultation is necessary. We offer free in-person consultations at each of our offices.