What Happens In Bankruptcy?

The knowledgeable bankruptcy lawyers at Kaplan and Associates, Ltd., in Chicago help individuals and businesses navigate the bankruptcy process or use an alternative means to rebuild a financial foundation. Bankruptcy can be an effective means of recovering from extensive medical bills following an injury or illness, prolonged unemployment, a divorce or any other unexpected event that has left you facing unmanageable debt.

If you have creditors threatening to garnish your wages, foreclose on your house or repossess your car, filing bankruptcy will immediately stop these collection efforts and provide you with time to resolve your situation. We will carefully review your situation and recommend the course of action that makes the most sense.

A Record Of Success

Attorney Arnold Kaplan has 30 years of experience working with debtors and creditors. He leads a team that emphasizes a personal approach to helping clients navigate the bankruptcy process when it is the right solution for them. We take the time to learn each client's goals and develop a legal strategy that best suits those objectives. These may include:

  • Chapter 7 bankruptcy, which allows an individual to discharge unsecured debt, which includes credit card debt, medical bills, personal loans and income taxes that are more than three years old.
  • Chapter 13 bankruptcy, which allows an individual who has a source of income to restructure much of his or her debt and repay all or a portion of it over three to five years. In Chapter 13, debtors frequently remain in their home if they can restructure their mortgage and remain current with monthly payments.
  • Chapter 11 bankruptcy, which is most often used by corporations and business partnerships who wish to restructure their debt while remaining in operation.

Protecting Your Interests From Start To Finish

Filing for bankruptcy is paperwork-intensive. If bankruptcy is the right solution for you, we will complete and file all of the necessary forms on your behalf, accompany you to meetings with the bankruptcy trustee, respond to creditors and ensure that you maximize the assets you can protect using bankruptcy exemptions.

Financial struggles are stressful enough. Don't add to them by going it alone or enlisting the services of a law firm that only dabbles in debt restructuring and bankruptcy law. We work with clients in Greater Chicago and much of northeast Illinois.

Call, email us or use our online contact form to schedule a free consultation. We will review your situation and recommend an effective course of action.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.