Chapter 7 Bankruptcy

Chapter 7 bankruptcy eliminates most kinds of unsecured debt. Unsecured debts that Chapter 7 eliminates are credit cards, medical bills, many personal loans, payday loans, judgments, overdue utility bills, and deficiencies on repossessed vehicles.

Many people worry that if they file bankruptcy, all of their possessions will be taken from them. NOT TRUE!!! If you own a home or a car and are current with your payments, you more than likely will be able to keep your property. In addition, nearly all other personal property is protected under the bankruptcy laws in each state.

You get to keep your home, cars, other possessions & have your debts eliminated. We can help you get out of debt once and for all!


Post Bankruptcy Info

How do I rebuild my credit after my bankruptcy?

The fact that you filed bankruptcy remains listed at the credit bureau for 7-10 years following your discharge from bankruptcy. Logically this information will impact the decision of anyone investigating your credit rating and therefore you may find it more difficult to obtain credit.

Your ability to rebuild credit after filing bankruptcy is better than it has ever been. After you get your discharge, you will receive many solicitations from lenders offering to finance homes, vehicles and credit cards.


Chapter 13 Bankruptcy

In a Chapter 13 bankruptcy, an interest-free repayment plan is set up with the Bankruptcy court

. This plan shows how much money you will pay to the court each month, and how that money will be handed out to your particular creditors. The creditors cannot collect from you, and the creditors are required by a Federal Court order to adhere to the terms of the plan. The EV Law Group will assess your financials and determine if Chapter 13 is a good option for you. Unlike a Chapter 7 BK, you must be working or have a consistent source of income to be able to file a Chapter 13 BK. Not only must you be able to pay for your monthly living expenses, but you must also be able to make your payment to the court to consolidate your debts. All of your debts should be included in a Chapter 13 BK, even though not all of them will be discharged at the end.


Foreclosure Defense

Spending years of intense research and practice in this field, EV Law Group developed and is continuously developing unique and effective defenses and attack strategies to protect the residential and commercial borrower in Illinois, outside of bankruptcy, and in a few cases with bankruptcy.