Most people qualify for Chapter 7 bankruptcy relief. The new bankruptcy laws prohibit Chapter 7 cases only in rare situations. Mr. Redfield does the necessary means testing for clients who have above median income.
Personal financial difficulties cause high stress and may take a toll on an individual or the entire family. Knowing what to expect may help alleviate these emotions.
At the law firm of John H. Redfield & Associates, P.C., your case will be handled by a single experienced lawyer throughout the entire process. Your case will not be shuffled among paralegals or passed of to a recent law school graduate. Attorney Redfield has over 30 years experience in the practice of bankruptcy law.
When you call about filing for bankruptcy, Attorney Redfield will help determine which chapter best fits your needs - Chapter 7 or Chapter 13 - by asking about your debts, assets, income and mortgage. Even if you have large credit card debt, hospital bills, owe money on a repossessed car or are burdened by a second house mortgage, you may qualify for a Chapter 7.
Generally, Chapter 7 cases do not result in the liquidation or sale of assets. Most debts are discharged in a Chapter 7 case, and the end result is debt relief and a fresh start on life.
Can I Keep My House and My Car?
Depending on the amount of equity in your house, you may be able to keep it. When you file for Chapter 7 bankruptcy, each spouse, or principal homeowner in Illinois, receives a $15,000 homestead exemption.
Most people filing a Chapter 7 case maintain the ownership of their car. You may be able to keep your car if you are current on the payments and can afford to continue to pay them each month.
John H. Redfield & Associates, P.C., is a debt relief agency.
They help people file for bankruptcy relief under the Bankruptcy Code.
John H. Redfield & Associates, P.C.
102 S Wynstone Park Drive Suite 201
North Barrington, IL 60010-6976
Tel: 847-382-1220 Reference #:
Fax: 847-382-1225
The law firm of John H. Redfield & Associates, P.C. represents clients throughout the Chicago, Illinois, metro area, including the cities of Barrington, Crystal Lake, Lake Zurich, Wauconda, Mundelein, Hoffman Estates, Palatine, Arlington Heights, Woodstock, Wheaton, Schaumburg, Carpentersville, Geneva, Algonquin, Huntley, Cary, Fox River Grove and Vernon Hills. They serve clients in Lake County, Cook County, McHenry County, DuPage County and Kane County.
The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation.