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Springfield IL Bankruptcy Attorney | Chapter 7 vs. 13

More Than 20 Years of Guiding Clients Through the Bankruptcy Process

The decision to declare personal bankruptcy is often the last step on a long road of trying to resolve debt. Knowing you cannot repair your financial situation without taking this drastic measure can be frustrating. However, you are certainly not alone. More than ever before, American citizens are finding themselves in economic distress. Filing for either Chapter 7 or Chapter 13 bankruptcy has become the most viable debt relief option for many individuals and families.

At the Dees Law Office in Springfield, Illinois, we help clients navigate through the process of consumer bankruptcy. Brian J. Dees, an attorney with more than 20 years of experience, takes time to explain your options for debt relief, helping you make informed decisions about how you wish to proceed. Please contact our law firm to schedule a consultation with a knowledgeable bankruptcy lawyer.

Chapter 7 vs. Chapter 13 Bankruptcy

Most people do not clearly understand the difference between Chapter 7 bankruptcy and Chapter 13 bankruptcy. While both can result in a similar outcome, eligibility requirements and methods of debt discharge are quite different.

To qualify for Chapter 7 bankruptcy, you must have a certain level of debt and your annual household income must fall below the national average. In most cases, a Chapter 7 can be completed in about three months, eliminating debts through the sale of some of your possessions. Debts including credit card payments and medical bills will be discharged. You will still be responsible for tax debts, student loans and other debts that are not dischargeable.

Chapter 13 bankruptcy is often a good option for people with significant assets and a steady source of income or those who have filed for Chapter 7 within the past eight years. Chapter 13 allows you to establish a repayment plan that typically lasts from three to five years. Upon the successful completion of the plan, your remaining dischargeable debts will be eliminated.

For more information about Chapter 7 and Chapter 13 bankruptcy, visit our frequently asked questions section.

Contact Us for a Consultation — Flat Rate Services Are Available

Please contact the Dees Law Office to schedule an initial consultation to discuss your financial situation. Evening, weekend and at-home visits are available by appointment. We charge a flat rate for our legal representation in bankruptcy matters.

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

Dees Law Office
1035 South Second Street Springfield, IL 62704
Toll Free: 866-959-3659 :: Phone: 217-718-4412
Fax: 217-528-6837 :: Map and Directions