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At the Bach Law Offices, we have been helping people through financial difficulties for a combined 40 years. We see firsthand the stress our clients are under when faced with mounting debt and an influx of harassing collections calls.
No matter how complex or dire your financial situation, our knowledgeable bankruptcy law attorneys can help. We are dedicated to helping you find an effective solution for your unique financial struggles.
Contact our Northbrook, Illinois office to schedule your initial free consultation.
News headlines and television plots paint bankruptcy as the end of any professional’s career. For most, filing bankruptcy can be the start of a new beginning.
If you’re considering if bankruptcy is right for you, you have likely received countless communications from creditors, trying to collect on money you owe, but you just don’t have to give. Your paychecks may be taking a hit from debilitating wage garnishments that make it difficult to put food on the table and a roof over your head.
Filing a bankruptcy petition triggers an automatic stay to cease all the harassing collection calls and troublesome wage garnishments. Once that petition is on file with the court, your bankruptcy lawyer will address any communication regarding your debts—no need to change your number, your phone will quit ringing nonstop.
The process doesn’t happen overnight, but when your debts are finally forgiven—known in bankruptcy court as discharged—you will put your financial troubles behind you and start life anew.
Are you ready to find out if bankruptcy is right for you? During a free individualized consultation, we will discuss your specific financial situation and give honest feedback on your next best steps. We’ll walk you through the process of considering bankruptcy and answer all your questions. You’ll leave the consultation armed with the power to make the next move to resolve your financial worries.
Bankruptcy is a legal method of solving overwhelming debt for individuals and businesses. Your specific financial situation determines the exact process you’ll undergo. Income and debt are the major factors considered in deciding which option is right for you.
Chapter 7 Bankruptcy provides the opportunity to sell assets to pay off creditors and be discharged of qualifying debts. Often this can be done without losing important property, such as the family home if that is your goal.
Chapter 7 is primarily for individuals or families that make less than the state’s median annual income compared to households of the same size. As of May 15, 2021, the median household income for a family of four in Illinois is $108,549 annually, or approximately $9,046 per month. If you make more than the monthly average, you may still qualify for Chapter 7. A skilled Chapter 7 lawyer can assist you in taking the means test to determine if you are eligible.
Chapter 13 Bankruptcy may be the right bankruptcy option if you make more than the state’s median income for a household of equal size. Chapter 13 takes longer than Chapter 7. In this process, you may still retain assets, but you must pay off your debts over a set period of time. A knowledgeable Chapter 13 lawyer can assess your situation to see if this is a solution to your financial troubles.
Chapter 11 Bankruptcy is for businesses, as opposed to individuals and families. If your business has the potential to succeed, Chapter 11 provides a pathway to reorganize your debts and pay them back over a more manageable period. If your business is viable, an experienced Chapter 11 lawyer will guide you through the process of reducing your business debt.
Let Bach Save Your Financial Future
Are you searching for the top bankruptcy lawyers in Northbrook? Schedule a consultation with our dedicated bankruptcy law attorneys. Let us explain how we can help you reach a stronger financial future.
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The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute an attorney-client relationship.