In most cases, no. How the Illinois homestead exemption — now $50,000 per owner as of 2026 — decides whether Chapter 7 or Chapter 13 protects your home.
In most cases you keep the car and keep paying. How reaffirmation works and how the Illinois motor vehicle exemption applies to a paid-off vehicle.
Yes — filing stops a wage garnishment immediately, under Chapter 7 or Chapter 13. What the automatic stay does and why waiting costs you money.
Yes. Chapter 13 stops a foreclosure and lets you repay mortgage arrears over three to five years while resuming your regular payment. A Chicago attorney explains.
Your score takes an initial hit, but most people rebuild within six to twelve months and can finance a car almost immediately. A mortgage is realistic in about two years.
Court costs are $338 for Chapter 7 and $313 for Chapter 13. Attorney fees vary, there is always a payment plan, and Chapter 13 fees roll into the consolidation.
Talk to an attorney. The consultation is free and answers what you qualify for, which debts go, the cost and the timeline — before you commit to anything.
By Law Offices of David M. Siegel Bankruptcy Attorney Chicago Feeling like you’re sinking in a sea of debt, juggling bills, and losing sleep over your financial situation? It might be time to consider seeking help from a local bankruptcy attorney. Here are five signs that it’s time to take action. Skyrocketing Credit Card Balance […]
Imagine getting stuck in a financial storm. Debt is swirling around you, creditors are knocking at your door, and it feels like there’s no way out. Then, you catch a glimmer of something in the distance. Could it be a lifeline? You’ve heard of Chapter 7 Bankruptcy, but is it the right choice for your […]
You’re drowning in debt, and you’ve been struggling to keep your head above water for months. Every time the phone rings, you feel a knot in your stomach, wondering if it’s another creditor demanding payment. And forget about bankruptcy. There’s no way you would qualify, and even if you did, you’re afraid of what you’d […]