Attorneys Focused on Bankruptcy in Chicago, Illinois
At Ledford & Wu, we provide quality bankruptcy representation and service at competitive prices. Our experienced attorneys have focused their entire careers on bankruptcy law, and our clients work directly with them in crafting a debt relief strategy.
To schedule a free consultation, call us today at 888-542-1900 or contact our offices online. For an in-depth look at bankruptcy law, see our general bankruptcy information page.
Different Types of Bankruptcy
While there are many chapters (forms) of bankruptcy, the most common for individual consumers are Chapter 7 bankruptcy and Chapter 13 bankruptcy
- Chapter 7: Also called a "liquidation" bankruptcy, Chapter 7 allows you to discharge all eligible debts in one fell swoop. This Chapter is generally used to eliminate credit cards, medical bills, vehicle deficiencies, etc. It is possible to lose assets in a Chapter 7, however, so you must ensure that you are properly represented by an experienced bankruptcy lawyer in this process.
- Chapter 13: Also called a "wage earner's" bankruptcy, Chapter 13 requires you to create a payment plan to pay back some or all of your debt. This Chapter is often used to stop foreclosures and repossessions, giving you the protection of the federal court while you repay past due payments and protect your assets.
An Immediate Stop to All Debt Collection Activities
Filing for bankruptcy typically triggers an "automatic stay" by the court. This order immediately stops your creditors from taking any further effort at collecting their debt from you.
This means they can no longer call you on the phone or send you letters in the mail. Wage garnishments will cease. You will no longer have to worry about the threat of foreclosure or repossession. If they want to send a message to you, they will have to send it through your attorney. In short, your life will quickly return to normal.
Act Now — Before Things Get Worse
If your wages haven't been garnished, if you haven't received a summons for a collections lawsuit, and if your creditors haven't tapped into your bank accounts yet … you should consider filing for bankruptcy before that happens.
Is bankruptcy right for you? Our lawyers can answer your questions and help you decide during a free initial consultation. To schedule an appointment, call 888-542-1900 or contact our offices online, any time.
Ledford & Wu has offices in Downtown Chicago, Evergreen Park, Calumet City, North Riverside/Berwyn, Northside/Jefferson Park,Schaumburg,Bolingbrook, Gurnee Aurora and Elgin.
