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Eligible to File Bankruptcy Illinois

Who is Eligible to File Bankruptcy?  Let’s Talk.

95% of the people who come to my office qualify to file bankruptcy.

Who is eligible to file bankruptcy in Illinois?  The first question I often get is: “Am I eligible to file bankruptcy in Illinois?” There are many events that may trigger a person’s need to file bankruptcy in Illinois. For instance: foreclosure, repossession, lawsuits, and liens.

After the changes to the bankruptcy laws it is very difficult to know when someone is eligible to file chapter 7 bankruptcy or is eligible to file chapter 13 bankruptcy in Illinois.

When researching who is eligible to file bankruptcy in Illinois, the first thing people do is go online and try to do their own means test.  Big mistake (… really).

It is virtually impossible for the average person to go online, use some means test calculator, and really determine if they qualify for bankruptcy in Illinois. Not only are the rules confusing, but they are applied differently depending on where you file bankruptcy and who is assigned as your Trustee and Judge.  Believe me, there can be a huge difference between filing bankruptcy in Aurora and filing bankruptcy in Chicago or Rockford.

Some rules are written in the Bankruptcy Code, some are developed by cases law and others are simply not written and take an experienced bankruptcy attorney who is local and knows who the players are and how they will view a particular situation.  In my practice, I have had  many people file Chapter 7 who were making a salary of $100,000.00 per year. You might ask, how is that possible?

There are as many variables that come into play when determining whether you are eligible to file bankruptcy in Illinois, as choices of cereal at the local grocery store. How much do you owe? How close you are to retirement? Who lives with you? Are your debts business related?  What is your house really worth in Aurora or Elgin? Who knows that these days? It really does take a local bankruptcy attorney to figure this out.

One of my practices specialities is taking people who didn’t think they were eligible to file bankruptcy in Illinois (or sometimes they have been told by other lawyers that they were not eligible to file bankruptcy) and making that happen. Then they can move on with their lives.

I am good with the difficult situations, that others can’t seem to figure out. So, if you think you are not eligible to file bankruptcy, or you make too much money or aren’t sure if you qualify come down to the office and let’s talk.

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