Tinley Park Bankruptcy Attorneys

People never set out to become hopelessly indebted. Debt finds them, usually when they are least equipped to handle it. Emergency medical bills and unemployment are among the biggest contributors to out-of-control consumer debts.

At Hutchison, Anders & Hickey, in Tinley Park, Illinois, our bankruptcy lawyers understand the fear and hardship that out-of-control debts can cause to individuals and families. We know that you need a way out of your financial predicament, and we can provide it through the process of personal bankruptcy.

Our Personal Bankruptcy Practice | Orland Park Chapter 7 And 13 Lawyers

Most people have debts of one kind or another: Mortgages, car payments, credit cards, student loans and personal "bridge loans" for small businesses are among the types of debt our clients routinely carry. When these debts become so serious that a client cannot imagine repaying them, however, bankruptcy can become an attractive option.

If your debts are out of control, our attorneys can meet with you to discuss your financial options. Depending on your circumstances, we may be able to help you to eliminate your debts permanently through the bankruptcy process.

Is Bankruptcy Right For Me?

Your assets, your debts and your goals are the biggest factors in determining which type of bankruptcy is most appropriate. For most individuals and small-business owners, a Chapter 7 or Chapter 13 bankruptcy is most appropriate.

Under Chapter 7, filers can have nearly all of their debts discharged by a bankruptcy court while potentially losing some assets to liquidation by creditors. Chapter 7 is a good "quick solution" to debt problems, especially if the filer has few assets to protect.

If you have specific assets that you wish to keep, or if your income is great enough that you can repay a portion of your debts in a period of three to five years, a Chapter 13 bankruptcy may be a good solution. It can allow you to have some debts discharged (like credit cards) while having other debts restructured (such as a home mortgage) according to a fixed, and affordable, payment plan.

Filing for either type of bankruptcy comes with other benefits, including halting — either temporarily or permanently — wage garnishments, harassing calls from bills collectors and foreclosure actions by lenders.

Get A Fresh Start On Your Finances | Our Experienced Lawyers Can Help You

Bankruptcy can be a valuable tool for eliminating debts and getting a fresh start to your life. However, as with any action with far-reaching legal consequences, it is important that you consider bankruptcy with the assistance of an experienced attorney. Our law firm has represented clients in Tinley Park and surrounding communities for more than 40 years.

To discuss your options and opportunities with a Tinley Park bankruptcy lawyer, contact us online or by calling 708-620-6081, or 800-881-7189 toll free.