411 Hamilton Blvd, Suite 1600, Associated Bank Building Peoria, Illinois 61602
TELEPHONE | (309) 673-5535 OR (800) 248-7212
What types of bankruptcy are there?
The two most common types of bankruptcy available are Chapter 7 and Chapter 13. Under Chapter 7 you receive a discharge of most types of unsecured debts like credit cards and medical bills without any payments and you keep paying on, or reaffirm, secured debts that you choose to keep... read more »
Will I lose property in a bankruptcy?
In most cases you are able to keep all of your property. Illinois and federal law give you protection of most property from creditors. Some types of property are fully protected regardless of value, like retirement or pension plans. Other types of property are only protected up to a certain... read more »
Can I stop foreclosure or reposession with a bankruptcy
Yes. A bankruptcy filing automatically stops these from taking place, but usually only a Chapter 13 case will help to catch the payments back up to allow you to keep the property. Chapter 13 can give you three to five years to catch up back payments on your house or... read more »
Can I stop wage garnishments or lawsuits with a bankruptcy?
Yes. A bankruptcy filing automatically stops garnishment of your wages the day that it is filed. We cannot however, in most cases, recover wages that have already been taken out of your check. A bankruptcy also immediately stops any further action or court appearances on a lawsuit, even if a... read more »
Can a creditor call me or send me collection letters after I file bankruptcy?
No. Once a bankruptcy petition is filed with the court creditors are not allowed to contact you in any way. The court sends written notice of the bankruptcy to the creditor, and you refer any telephone calls from creditors over to your attorney. If a creditor keeps calling you they... read more »
Can I discharge income taxes with a bankruptcy?
Income taxes that are more than three years old can in most cases be discharged in bankruptcy. Income taxes that are less than three years old usually cannot be discharged, but interest can be stopped and payments set up through a Chapter 13 plan. read more »
Can I discharge student loans in bankruptcy?
Generally no, unless you are disabled or otherwise unable to work at all. In some cases the payments can be rearranged in Chapter 13, or you will need to pay the student loan on your own directly. read more »
Can I protect co-signers in bankruptcy?
Yes, under either Chapter 13 or Chapter 7 you can protect a co-signer on a debt by continuing to pay the debt directly. If you are behind on payments of a co-signed debt Chapter 13 can allow you to catch up the back payments or restructure the payments and protect... read more »
Can I discharge child support in bankruptcy?
No. Bankruptcy does not eliminate past or current child support obligations. In some cases the back child support can be paid through a Chapter 13 case in payments which stops license suspensions or other contempt procedures, but the obligation must still be paid in full. read more »
How long is bankruptcy on my credit report, and will my name be in the newspaper?
A Chapter 7 case stays on your credit report for ten years, a Chapter 13 stays on your credit report for seven years. Newspapers print most Chapter 7 cases in the Monday paper, it is the present policy of the Peoria newspaper not to print Chapter 13 cases. read more »
What should I look for in choosing an attorney?
You should make sure that the attorney you choose is experienced in bankruptcy, and will be there when you need them to answer questions and take care of problems. Bankruptcy is a specialized area with complicated laws and rules and even has its own court. It is therefore our advice... read more »
What can I expect at an appointment with your office?
The attorney will meet with you, answer any questions that you have and then discuss your options. There is no charge for this consultation in non-business cases. You are welcome to have your first appointment be just for information, or if you are sure that you want to file something... read more »
How quickly can a bankruptcy case be filed with your office?
In most cases your case can be filed the next business day after your appointment. This immediately stops creditor collection action like lawsuits, garnishments and telephone calls. Unlike some other attorneys that let your case sit for days or even weeks before it is filed with the court - just... read more »
What can I expect in a Chapter 7 or Chapter 13 case?
Check out our Bankruptcy Page for a full discussion of either Chapter 7 or Chapter 13, the costs for each case, and the process. read more »