Get the Debt Relief You Need
If you are having difficulty making ends meet due to overwhelming debt, then bankruptcy can help you get a fresh start. At the law office of Young & Cotteleer, we will help you determine your debt relief options. Our attorneys have more than 50 years of experience representing clients with bankruptcy in Wheaton and surrounding Illinois communities.
Take the first step toward financial freedom. Call 630-517-2287 to schedule a free initial consultation with one of our skilled lawyers.
DuPage County Debt Relief Attorneys
Although bankruptcy laws changed in 2005, it is still possible to seek debt relief with bankruptcy. When you work with Young & Cotteleer, our Wheaton bankruptcy attorneys will help you understand your options and evaluate your financial situation to determine whether Chapter 7 or Chapter 13 is the right option for you.
- Chapter 7 bankruptcy: Eligibility for Chapter 7 bankruptcy is determined through a means test, which takes into account your income and budget. In a Chapter 7 bankruptcy, most of your debts are discharged, except for child support payments, student loans, taxes, criminal fines and fraudulent debts. You may be able to keep your property in a Chapter 7 bankruptcy, as long as it is not highly valuable.
- Chapter 13 bankruptcy: In Chapter 13 bankruptcy proceedings, all or a portion of your debts are repaid over three to five years through a debt payment plan. The amount you will be required to pay back is based on several different factors. Chapter 13 bankruptcy is a viable option for individuals who want to keep their cars or homes.
When you file bankruptcy, the automatic stay goes into effect, which prohibits creditors from calling you and also halts wage garnishment, foreclosure and repossession actions against you. We will stand beside you through every step of your bankruptcy proceeding, from pre-bankruptcy counseling and filing the required documents to representing you at the meeting of creditors.
We also can assist businesses in reorganization through Chapter 11 bankruptcy.
To discuss your financial situation with one of our attorneys in a free initial consultation, contact us or call 630-517-2287.
We are a debt relief agency. We help people file all the relief they are entitled to under the Bankruptcy Code.