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The Majority Of Chapter 13 Cases $350 to file

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Office Locations

10522 S Cicero #306, Oak Lawn, IL 60453

498 W Boughton, Bolingbrook, IL 60440

Chapter 13 Bankruptcy Chicago

The Payment plan takes into consideration an individual’s income and payments they need to make on secured debts in order to keep ther home. such as their home and motor vehicle. Unsecured debts are included, such as charge card however the debtor usually just ends up paying back a portion of those financial obligations according to what the bankruptcy court thinks they can deal with out of their discretionary earnings, and the rest is cancelled or released at the end of the payment plan.

Chapter 13 personal bankruptcy is a legal process that permits individuals to repay their debts over time while having the chance to keep important possessions.

Chapter 13 personal bankruptcy is used when debtors either do not qualify for Chapter 7 or they have sufficient earnings 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 bankruptcy includes a court authorized payment plan over the course of typically three to 5 years.

Reasons to declare Chapter 13 personal bankruptcy

1. Threat of Foreclosure– Behind on Home mortgage Payments

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

2. Threat of Repossession– Behind on Motor vehicle Payments

Falling behind on car loan payments can put the individual at risk of the lender reclaiming their automobile. The automatic stay that works upon filing for a Chapter 3 consumer bankruptcy stops the lending institution from reclaiming the automobile 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 because state exemption laws secure a specific quantity of assets. However, some individuals have so much stuff they would lose some of it if they filed a Chapter 7 consumer bankruptcy. By filing a Chapter 13 Consumer bankruptcy you repay the worth above what is covered by the exemptions over the duration of the payment plan.

4. For the reason that you have excessive income

From time to time a client may have too much earnings to qualify for a Chapter 7 consumer bankruptcy case. Insufficient earnings to pay the bills but too much to declare bankruptcy. In a Chapter 13 bankruptcy you may have the ability to pay back less than the full amount owed and it is normally interest free.

5. You already filed a chapter 7

If an individual is battling with excessive personal debt and has previously declared Chapter 7 bankruptcy in the last 8 years, they will not have the ability to file another Chapter 7 personal bankruptcy. In this case, Chapter 13 personal bankruptcy is the only alternative available to them.

The Chapter 13 procedure

1. Finish credit counseling over the internet
2. Prepare the paperwork with the help of a lawyer
3. File a personal bankruptcy case with the local personal bankruptcy court. This will put a time out on any consumer debt obligations. Foreclosure proceedings and a lot of consumer debt collection efforts will stop up until the payment plan is finished.
4. Send a payment plan. This describes how lenders will be repaid
5. Start paying within 30 days after filing the Chapter 13 case.
6. The court will assign a trustee who will examine the case and send out payments.
7. Participate in a creditor conference with your personal bankruptcy lawyer or attorney.
8. Your lawyer will participate in a confirmation hearing. At the hearing the judge will decide on whether to approve the program. If required your lawyer will make any requested modifications.
9. Pay according to your plan over three to five years. Payments are provided to the case trustee who will distribute your payments to financial institutions.
10. The bankruptcy will be released after the payment plan is fulfilled and you have actually taken a second credit class. If you submitted the Chapter 13 less than 4 years after a chapter 7 discharge the case ends without discharge.

Top Reasons to Hire Gleason and Gleason as your Chapter 13 Lawyer or attorney

Experience

Troy and Julie Gleason have been personal bankruptcy attorneys for over 19 years. Particularly, we know the personal bankruptcy system. We practice 100% bankruptcy law. Nothing else. We can put our skill to work for you.

Lawyers Answer all Phone Calls

Lawyer Julie Gleason, Lawyer Troy Gleason or Lawyer David Gallagher will personally answer your call. All 3 of us are Illinois authorized consumer bankruptcy attorneys. We have years and years of practical experience. Your phone call will not be answered by a clerk or paralegal.

VIP Customer service

We will submit your case as rapidly as possible. You are being bothered by lenders and we are aware of this. It is our mission to stop this as soon as possible. Your circumstance is nerve-wracking and we will treat you in a pleasant, nonjudgmental and experienced way. More than 60% of our new customers were referred by a neighbor or relative who had a case with our company.

We Are Nearby

We have facilities situated 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!

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We are a Debt Relief Agency. We help people file for Bankruptcy Relief under the Bankruptcy Code

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