What is Chapter 7 Bankruptcy?

Bankruptcy laws were developed to help individuals who are overwhelmed by debt that they cannot pay. Filing Chapter 7 bankruptcy allows you to have your debts discharged and may help you begin to rebuild your financial health. To qualify, you must pass a "means test." Essentially you must meet certain criteria and prove to the court that you do or do not have the means to repay your debt. We strongly advise you to retain the representation of Law Offices of David Freydin before moving forward with the legal process of filing for bankruptcy. Our attorneys will help you navigate through this complicated legal process with the peace of mind that you deserve.

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Hiring the right Chicago bankruptcy attorney is the most important thing you can do during the bankruptcy process. If you and your family find yourselves in a situation where you can no longer keep up with your debts and are considering filing for bankruptcy, it is imperative that you retain the supportive assistance of our firm. As experienced bankruptcy attorneys, we will offer you unmatched legal solutions and inform you of your options. We strongly advise you against navigating through this process alone. Let Law Offices of David Freydin help you decide whether Chapter 7 bankruptcy is the best option for you.

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What Can I Keep When Filing Chapter 7

  • Furniture
  • Clothing
  • Some equity in your home and car
  • Cash in various types of accounts, such as savings
  • Pension plans or other retirement accounts

Chapter 7 Bankruptcy Debts Include

  • Credit card bills
  • Car repossession deficiencies
  • Personal loans
  • Medical bills
  • Utility bills