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Gleason and Gleason (312) 445-8825

Phone and In Person Consultations Available!

The Majority Of Chapter 13 Cases $350 to get your case filed

Click Here for Our Chapter 7 Information Page

Office Locations

10522 S Cicero #306, Oak Lawn, IL 60453

498 W Boughton, Bolingbrook, IL 60440

Chapter 13 Bankruptcy Attorney Chicago

Chapter 13 consumer bankruptcy is a legal process that permits people to pay off their debts over time while having the opportunity to keep important possessions.

The Payment plan takes into account a person’s earnings and payments they require to make on secured debts in order to keep ther home. such as their home and automobile. Unsecured debts are also included, such as credit cards but the debtor typically just ends up repaying a part of those debts according to what the bankruptcy court believes they can handle out of their discretionary income, and the rest is cleared away or released at the end of the payment plan.

Chapter 13 consumer bankruptcy is used when debtors either don’t get approved for Chapter 7 or they have sufficient income that they can get caught up on at least some of their personal debt payments over a period of time. This is why Chapter 13 personal bankruptcy includes a court authorized payment plan over the course of generally three to 5 years.

Factors to file Chapter 13 personal bankruptcy

1. Threat of Foreclosure– Behind on Home loan Payments

When a person falls behind on mortgage payments, they run the risk of losing their home through foreclosure by the lender. Filing a Chapter 13 Consumer bankruptcy invokes an automatic stay that stops the loan provider from foreclosing or attempting to collect the past due mortgage payments. The total past due sum is spread out over the course of the payment plan in month-to-month payments. This enables the individual to make up the arrears and stay in their house without any pressure from the lending institution. The debtor is still paying their regular month-to-month home loan payment plus a percentage every month towards the past due amount of money. AT the end of the payment plan, the customer is caught up and can move on from there.

2. Danger of Foreclosure– Behind on Automobile Payments

Falling behind on car loan monthly payments can put the individual at risk of the loan provider repossessing their vehicle. The automatic stay that works upon declare a Chapter 3 personal bankruptcy stops the lender from repossessing the vehicle or attempting to collect the past due amounts.

3. A Lot Of Assets

The majority of people who file Chapter 7 consumer bankruptcy don’t lose anything since state exemption laws protect a certain amount of assets. Nevertheless, some people have so much stuff they would lose some of it if they entered a Chapter 7 personal bankruptcy. By declaring a Chapter 13 Consumer bankruptcy you pay back the worth above what is covered by the exemptions over the life of the payment plan.

4. For the reason that you have excessive income

From time to time a client might have too much earnings to get approved for a Chapter 7 personal bankruptcy case. Not enough income to pay the bills but too much to apply for bankruptcy. In a Chapter 13 personal bankruptcy you might be able to repay less than the total owed and it is typically interest free.

5. A client already filed a chapter 7

If a person is battling with excessive personal debt and has formerly declared Chapter 7 consumer bankruptcy in the last 8 years, they will not have the ability to file another Chapter 7 personal bankruptcy. In this case, Chapter 13 consumer bankruptcy is the only option provided to them.

The Chapter 13 process

1. Complete credit class online
2. Prepare the documentation with the help of an attorney
3. File a consumer bankruptcy case with the regional bankruptcy court. This will put a pause on any debt obligations. Foreclosure procedures and many unpaid debt collection efforts will stop till the payment program is complete.
4. Send a payment plan. This describes how lending institutions will be paid back
5. Start paying within thirty days after submitting the Chapter 13 case.
6. The court will appoint a trustee who will review the case and send out payments.
7. Attend a creditor conference with your consumer bankruptcy lawyer.
8. Your lawyer will go to a confirmation hearing. At the hearing the judge will select whether to approve the program. If necessary your lawyer will make any requested amendments.
9. Pay according to your proposal over 3 to 5 years. Payments are provided to the case trustee who will distribute your payments to lenders.
10. The personal bankruptcy will be released after the payment plan is satisfied and you’ve taken a 2nd credit class. If you submitted the Chapter 13 less than 4 years after a chapter 7 discharge the case ends without discharge.

Leading Factors to Work With Gleason and Gleason as your Chapter 13 Lawyer

Experience

Troy and Julie Gleason have been consumer bankruptcy attorneys for over 19 years. Specifically, we know the bankruptcy system. We practice 100% consumer bankruptcy law. Absolutely nothing else. We can put our expertise to work for you.

Attorneys Answer all Phones

Attorney Julie Gleason, Attorney Troy Gleason or Lawyer David Gallagher will personally answer your phone call. All 3 of us are Illinois licensed personal bankruptcy lawyers. We have years and years of experience. Your telephone call will not be answered by a clerk or paralegal.

VIP Professional services

We will file your case as rapidly as possible. You are being bugged by creditors and we recognize this. It is our objective to stop this as soon as possible. Your predicament is nerve-wracking and we will treat you in a pleasant, nonjudgmental and expert way. Over 60% of our brand-new clients were referred by a close friend or family member who had a case with our team.

We Are Local

We have offices located in Oak Lawn and Bolingbrook. Telephone Appointments also available.

10522 S Cicero # 306, Oak Lawn, IL 60453

498 W Boughton # 201, Bolingbrook, IL 60440

BBB A+ Rated

I contacted Gleason and Gleason Law Office, after my husband passed away because I had no choice but to file Bankruptcy. They do not charge you an arm and a leg. In addition, the lawyers do everything. They will let you know in advance what the procedure is. Moreover, the attorneys will advise you in advance if you will have complications. They treated me with respect.  Additionally, my bankruptcy went smoothly.

A couple weeks after the bankruptcy discharged I found myself in another situation. Mr. Troy and Mrs. Julie Gleason, took my hand and walked me through with ease. I was not charged for the extra work done for me. Even though it took a few months. These are the type of Attorneys that make up for the ones out here bad. If you need a Chicago Bankruptcy Lawyer, I would recommend this Law Firm, in a heart beat, to do your Bankruptcy anytime. They do not stop helping you just because the Bankruptcy discharges. I wish they practiced other areas of the Law, but I assure you, they will recommend someone credible for you. They have my utmost respect and confidence. Troy and Julie, you rock. Thank you for being human… God Bless.   – AD

I really wish I could give him 100 stars. Never have I met an attorney so dedicated so patient so kind and also efficient. He knows his stuff that is for sure. He is reasonable on his rates. Each and every time I have reached out to him he has made it his business to contact me the same day. By email and phone he and his office is accessible. I recommend him 1000 percent. – LH

Julie is a lifesaver!

Mr. Troy Gleason, is helpful, provides clarity and walks you through the process and what to expect, he’s very patient as well. Especially for the delayed learner. The location on Cicero provides parking. He’s also easily reachable via phone once your a client. His team is polished and professional. I totally recommend Mr. Gleason – KD

After going to Debt Stoppers and not liking the outcome I contacted G&G in Bolingbrook. My husband and I went to the Bolingbrook office where we meet attorney Troy Gleason. MY HUSBAND AND I HAD ALOT OF QUESTION BUT Troy took his time and explained everything to. He also help of out with other questions we had regarding my husband license. He came to court with us and sat next to us. My sister is still waiting on her attorney from another company to call her back . It has been 3wks. Also, she told him it was an emergency. So I would tell you to go to Gleason and Gleason. And they where cheaper.

Troy is nothing less than AMAZING! He took his time learning my issues, understanding my concerns, and helping me determine the best legal option for my situation. Working with Troy was great, as he was easily accessible and was always willing to answer any questions I had. I am now on the road to making better financial decision and i can not thank Troy and Gleason & Gleason enough!