Fight Your Way to Financial Freedom
At The Law Office of Timothy Brown, our firm is dedicated to assisting individuals who are in need of debt relief. In these challenging economic times, many people find themselves unable to meet their financial obligations. Crystal Lake bankruptcy lawyer Timothy Brown has helped countless clients obtain the debt relief they deserve, at an affordable cost. We sincerely care about our clients, and we do everything we can to obtain a great result for them. Contact our offices or call us at 815-788-9511 for a free consultation.
By filing for bankruptcy, you may be able to accomplish some combination of the following:
- Eliminate some or all unsecured debts.
- Restructure existing debts into manageable payments.
- Put an end to creditor harassment.
- Stop or delay the repossession of your property.
If you are experiencing overwhelming debt, wage garnishment, lawsuits, collection, or repossession, we would like to help. When you contact our offices in McHenry County, you will speak to our skilled attorney himself.
Contact us now for a free consultation.
Types of Bankruptcy
For individuals and families experiencing a significant amount of debt, there are two different types of bankruptcy available to help them: Chapter 7 and Chapter 13. Which of these is right for you will depend heavily on your situation.
Chapter 7 bankruptcy is intended for those with low to moderate income who are unable to repay their debt. It eliminates most or all of an individual's unsecured debt. To qualify for this chapter, you must meet the income eligibility requirement. The first income test is called the "median income test." You will qualify to file under this test if your gross income is below the applicable median level. If your gross income is too high, you still may qualify if you pass the "means test." The means test is used to determine whether your income, in relation to your reasonable and necessary living expenses, gives you a reasonable ability to repay the debt. If you do not qualify for Chapter 7, you may want to consider filing under Chapter 13.
Chapter 13 is a good option for those who do not qualify under Chapter 7 bankruptcy or have valuable assets that would not be protected in Chapter 7. In a Chapter 13 case, the individual proposes a plan to repay the creditors over a period of three or five years. Significantly, individuals who are behind on their mortgage or car loan payments are given an opportunity to pay the arrears over a fixed period of time. In many cases, the individual repays all of their debt through the plan. in some cases, though, part of the debt can be discharged. Significantly, Chapter 13 allows the individual to keep all of their assets.
HOW TO GET STARTED WITH YOUR CASE
- Complete the free case evaluation
- Complete a brief client intake
- Provide us with certain financial records and information
- Complete a court-approved online credit counseling class
- Review the bankruptcy case paperwork that we carefully prepare
- Sign the bankruptcy paperwork
- Let us file your case!
Call The Law Office of Timothy Brown Today
Our highly skilled Crystal Lake bankruptcy attorney is dedicated to helping clients like yourself get out of debt and take back control of their financial future. We sincerely care about our clients, and do everything we can to get great results.