What Bankruptcy Can Do For You

What Bankruptcy Do For You

Chicago Bankruptcy Lawyer Explains the Benefits

There are many benefits that bankruptcy brings to debtors all across the Chicago community – you just need to talk to the right lawyer to find out what your options are and how each one will affect your life in particular. Bankruptcy is a legal process that allows a debtor to quickly eliminate, reduce or pay back their debt to creditors and banks, depending upon the chapter of consumer bankruptcy you choose to file.

There are two main types of consumer bankruptcy: Chapter 7 and Chapter 13. Both have many benefits and advantages for consumers struggling with an overwhelming amount of debt, and both are very different strategies of debt relief.

If you are overcome with an unmanageable quantity of debt in the form of credit card debt, medical bills, mortgage, or car loans, do not hesitate to speak to a Chicago bankruptcy lawyer that can inform you on what bankruptcy can do for you.

Eliminate Debt, Bills, and Lawsuits Through Bankruptcy

When people hear the word bankruptcy, they rarely picture anything positive. Instead, a negative image of debt, financial instability, and poor credit come to mind. As an experienced bankruptcy law firm, the team at Law Offices of David Freydin can help you understand how bankruptcy can, in fact, improve a debtor's life in many ways.

First and foremost, bankruptcy has the important job of alleviating a consumer's debt. Chapter 7 bankruptcy acts as a quick liquidation process, whereas Chapter 13 allows a consumer to pay back their debts to their creditors over a period of up to five years. This debt that is being eliminated often includes credit card debt, medical and utility bills, and even lawsuits that may be held against you. Without all of these debts weighing you down, imagine where you could be!

Stop Wage Garnishment, Bank Levies and License Suspensions

Bankruptcy, however, is much more powerful than just a tool used to obtain relief from debt; it allows a consumer to put an end to some of the most financially-threatening situations. Wage garnishment, or a bank's action to remove money from a debtor's paycheck before it even reaches the debtor's hands, is a common tool used by banks to recover some of the money owed.

Other strategies a creditor may use in order to obtain repayment for unpaid debts include bank levies and real estate liens. If you have a freeze on your bank account because a creditor is attempting to recover a debt, or the bank has placed a lien on your home until you pay back the borrowed money, filing for bankruptcy may be the right option for you. In many cases, bankruptcy is able to put an end to both of these unwanted holds, and possibly close the legal action that the state has against you that removed your driving privileges.

Save Your Home & Car with Chapter 13 Bankruptcy

Did you know that filing for bankruptcy can actually save your home from foreclosure? That's right – filing a Chapter 13 petition simply tells a creditor that you will be able to pay back your debts in a period of three to five years, including a home or car loan. By using Chapter 13 bankruptcy as an offensive method against creditors and banks, you may be able to remove the lien from your home or motor vehicle.

Even if you are underwater on your home, there is still time left to save it! As a Chicago debtor, you may even be able to entirely eliminate your second mortgage. You must act quickly and garner the help of an experienced Chicago bankruptcy lawyer before taking any other action.

Get Help from a Bankruptcy Lawyer in Chicago

If you have considered bankruptcy in the past as a method to eliminate your debt, talking to a member of Law Offices of David Freydin is strongly suggested. This law firm has the legal ability to help you understand your rights and options in the matter of bankruptcy, debt relief, and saving your home from foreclosure.

Our law firm has many years of experience in this area of the law, and we can provide you with the information you need to know for Chapter 7 or Chapter 13 bankruptcy filings, how to put an end to creditor harassment, the types of debt you can eliminate, and all of the benefits of bankruptcy. We will walk you through the bankruptcy process, as we know that it can be challenging and confusing. Feel free to fill out our free bankruptcy evaluation and contact our office to talk to an attorney!

Contact a Chicago bankruptcy lawyer at our law firm without delay to begin your journey to a debt-free future. 

Our Client Testimonials

    "A Very Hands on Attorney - Patient & Attentive"
    I found Mr. Glanzer to be a very hands on attorney. Anytime I had any questions or concerns I felt very comfortable calling him and he was very patient with answering all my questions.
    Chapter 7 Client
    Chicago, IL
    "He Always Returned Our Calls and Emails"
    Deciding to file bankruptcy was not an easy decision. Mr. Glanzer spent a great deal of time with me and my husband discussing the various options available to us. He answered all of our questions and always returned our calls and emails. Thanks to him, my husband and I now have our fresh start. We are so grateful for his compassion and time. I highly recommend him.
    Deborah, Chapter 7 Client
    Chicago, IL
    "He Took the Time to Explain Everything"
    I so appreciated Mr. Glanzer's patience in helping me through a challenging time. He took the time to explain everything to me very thoroughly to be sure I fully understood. I'm very grateful to have found him and would highly recommend him.
    Chapter 7 Client
    Chicago, IL
    "Wonderful to Work With & Very Accessible"
    The guys are wonderful people to work with and they are very accessible and always willing to answer any questions you may have no matter how stupid you think they may be. I will definitely recommend they and use them again if needed in the future.
    Chapter 7 Client
    Chicago, IL
    "Forget All the Others, this Firm is the Real Deal!"
    Charles is an excellent attorney. All of our questions were answered and no question was looked at as dumb. They give all their clients their full attention and you don't see that with too many lawyers. Though we have finished our case with them, they still took the time to answer questions that I had afterward. I would recommend them to anyone who is looking for a bankruptcy attorney.
    V and M Natour - Chapter 7 Clients
    Chicago, IL

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Why Choose Us?

  • We offer a FREE case evaluation to all prospective clients
  • We have two convenient office locations in Chicago
  • We have outstanding reviews from former clients
  • We make sure clients are always prepared for their hearings
  • We aggressively protect clients from creditor harassment
  • We return all calls and emails in a timely manner
  • We will keep you up-to-date about any progress in your case
  • We give every client the personal attention they deserve
  • We have successfully handled hundreds of bankruptcy cases
  • We have over 20 years of experience