Chicago Lawyers Focused on Chapter 7 Bankruptcy
Serving Chicago, Illinois, and its surrounding suburbs, the law firm of Ledford & Wu focuses exclusively on the practice of bankruptcy law. Our attorneys provide experienced, cost-effective and personalized service, working one-on-one with each client to devise a successful debt relief strategy.
Are you considering bankruptcy? An experienced lawyer can help you decide if it's the right choice. Schedule a free consultation with an attorney at Ledford & Wu today — just call 888-542-1900 or contact our offices online.
Chapter 7 bankruptcy is ideal if you have a lot of unsecured debts — like credit cards, medical bills, payday loans or past-due utility bills — but not a lot of assets or equity in property. For an in-depth look at Chapter 7 or "liquidation" bankruptcy, you can find detailed Chapter 7 Information here.
How Chapter 7 Bankruptcy Relieves Debts
In Chapter 7 bankruptcy, all of your eligible debts are completely forgiven, or "discharged." At the end of the case, you are given the "fresh start" anticipated by the bankruptcy laws. While it is possible to lose assets in a Chapter 7 bankruptcy, most people who file do not. An experienced attorney knows how to protect those assets that you need and ensure that you keep your property. Generally, you are allowed to keep financed assets, such as your home and car, so long as you are up to date with your payments and have the necessary insurance.
Act Quickly to Stop Your Creditors
If you are considering bankruptcy, you are likely receiving stacks of past-due notices in the mail and harassing phone calls from creditors at night. You may have been threatened with garnishment, or your wages may be garnished. You may have received a summons for a collections lawsuit, or you may be about to receive one.
The instant you file for bankruptcy, all of these actions will cease. Bankruptcy provides immediate relief from all your creditors' attempts at collecting money. If you truly can't pay your bills, act today — before your creditors start taking more serious actions. An experienced attorney can help.
Find Out if Bankruptcy is Right for You
Working closely with an experienced consumer rights advocate at Ledford & Wu, you can gain the knowledge you will need to decide if bankruptcy is right for your circumstances. Schedule a free initial consultation with a lawyer at our firm by calling 888-542-1900 or by contacting our offices online.
