Se Habla Español
To better serve the diverse communities throughout the Chicago Metropolitan area — including Aurora, Elgin, Joliet, Naperville, and Oak Brook, IL — our Oak Brook bankruptcy attorneys and team can communicate in both English and Spanish.
Stop the Collections Calls
And Start Your Journey Out of Debt
If you are being hounded by debt collectors and ready to create a clear path out of debt, calling Chicago Bankruptcy Clinic is your first step.
“Bankruptcy” is a word that often elicits visions of financial ruin and destitution, but the truth is that bankruptcy is a tool that makes it possible to get out from under insurmountable debt with your dignity and your future prospects intact. Chapter 7 and Chapter 13 bankruptcy both provide what is known as an automatic stay. This provision takes effect when you file your petition, stopping most collection efforts so you can stop feeling harassed and start planning for a better financial future.
Don’t wait any longer to take advantage of a bankruptcy lawyer’s services. Request your free consultation by writing to our law firm or calling:
A Bankruptcy
Attorney You Can Trust
Welcome to Chicago Bankruptcy Clinic in Oak Brook, IL
Are you struggling to pay your bills, being sued by creditors, or facing foreclosure? No matter the circumstances you’re up against, our clinic is here to provide you with informed representation to navigate your financial setback and determine if filing for bankruptcy is ideal for you.
If you’re ready to make a fresh start on your finances, you can rely on our first-rate legal services. We serve individuals and families in Oak Brook, IL, Aurora, IL, Joliet, IL, and other communities throughout Chicagoland from our bankruptcy lawyer offices in Oak Brook and Chicago.
Bankruptcy CLINIC
Why Chicago, IL, Chooses Our Bankruptcy Practice
There are numerous reasons why people consult our Oak Brook bankruptcy lawyer in their time of need. Here are some of the most notable benefits of teaming with our practice when exploring your debt relief options:
Experience Helping People Just Like You
We Put Your Best Interests First
Free Consultations and Flexible Payment Plans
Types of Bankruptcy
Our Chicago Attorney And His Team Specialize In
Chapter 7 Bankruptcy
Also referred to as a straight or liquidation bankruptcy, Chapter 7 bankruptcy can eliminate most of your unsecured debt. The courts may require selling off some of your assets to pay off as much of the debt as you can. In order to file, you must pass a means test, which is designed to determine that you have the means to repay a portion of your debt.
All in all, Chapter 7 bankruptcy makes sense for those who:
- Have little to no disposable income and no way to repay overwhelming debts
- Do not have many assets
- Have a low credit score
Under bankruptcy law, debts that may be discharged include credit card debt, medical bills, past-due utility bills, unsecured personal loans, and more. Our attorney and his team will look closely at your financials to determine if you should file for Chapter 7 bankruptcy or look to other options.
Chapter 13 Bankruptcy
Also referred to as a reorganization bankruptcy or a wage earner’s plan, Chapter 13 bankruptcy enables individuals with a regular income to develop a plan to repay all or part of their debts, typically over the course of three to five years.
Chapter 13 lets you catch up on secured debts — such as your home or your car — while discharging unsecured debts. Among the biggest draws of this type of bankruptcy is that it lets debtors keep their property and catch up on missed mortgage, car, and priority debt payments.
The main difference in eligibility between Chapter 7 and Chapter 13 bankruptcy boils down to income. Our bankruptcy attorneys and paralegals in Oak Brook or Chicago, IL, will work closely with you to devise a repayment plan designed for bankruptcy court and creditor approval.
Benefits of Chapter 7 Bankruptcy
For the right client, under a qualified attorney’s guidance filing for Chapter 7 can provide important benefits, including:
- Property retention: With an attorney’s help, you can keep your home, your car, and other essentials.
- Restored credit: Even though your credit report will show your Chapter 7 bankruptcy for up to 10 years, you can gradually repair your credit score.
- Stopping creditor harassment: Once you file your bankruptcy petition, most creditors will be barred from contacting you or taking collection measures such as repossession or wage garnishment.
Benefits of Chapter 13 Bankruptcy
Filing for Chapter 13 under a qualified lawyer’s guidance can provide a number of unique advantages, such as:
- Stopping foreclosure: Once you have filed your petition and the automatic stay is enacted, foreclosure of your home stops.
- Repaying back taxes: If you have back taxes that can’t be discharged, they can be included in your custom repayment plan, and the IRS must accept the predetermined payment amounts.
- Repaying your student loans: Student loans cannot be discharged, but as part of your bankruptcy filing, your custom payment plan can allow you to pay them off in increments that you can afford. Your lawyer can work with the trustee to make sure this plan is feasible.
Meet
Alex Ranjha
Founding Bankruptcy Lawyer of Our Oak Brook, IL, Practice
Alex Ranjha is well-versed in the bankruptcy law and has a wealth of experience handling personal bankruptcy cases. Since our office is committed to helping all clients get the best representation possible, our Oak brook bankruptcy lawyer and his team will take the time to learn about your financial situation and help you take advantage of the benefits of Chapter 7 or Chapter 13 bankruptcy.
The road ahead may seem intimidating, but with our counsel, you can feel confident about moving forward. Don’t delay — take the first step in working with Alex Ranjha and his team by contacting our offices in Chicago or Oak Brook, Illinois, today.
Take the First Step Toward Financial Freedom
With Our Bankruptcy Lawyers in Oak Brook, IL
Frequently Asked Questions
You have different questions
Should I file for bankruptcy before, during, or after a divorce?
Will I be paying creditors directly if I file for bankruptcy?
Can student loans be discharged when you file for Chapter 7 bankruptcy?
How long does bankruptcy stay on your credit report?
How long after bankruptcy can I get a mortgage?
How many times can I file for bankruptcy?
Does bankruptcy clear tax debt?
Chicago Bankruptcy Clinic
At Chicago Bankruptcy Clinic, our bankruptcy attorneys and paralegals work closely with clients to
assess their financial situation and explore debt relief options, including filing for Chapter 7 and Chapter 13 bankruptcy.
Our team is proud to be affiliated with the following organizations:
- Illinois State Bar Association
- Chicago Bar Association
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