Illinois Bankruptcy Attorneys | Debt Resolution Lawyers, Illinois

Illinois Bankruptcy Attorneys | Debt Resolution Lawyers, Illinoisillinois bankruptcy lawyer

Our Illinois bankruptcy attorneys will help you start fresh through debt negotiation, Chapter 7, Chapter 11 or Chapter 13 bankruptcy. We make the process efficent and expedient so you can move forward in your life.

Our Illinois bankruptcy attorneys will help you start fresh through debt negotiation, Chapter 7, Chapter 11 or Chapter 13 bankruptcy. We make the process efficent and expedient so you can move forward in your life.

Our Experienced Illinois Bankruptcy Attorneys & Illinois Debt Resolution Lawyers Handle Cases Including But Not Limited To:

Your Community Law Firm

Why O'Flaherty Law for My

Bankruptcy

Matter?

In this video, Illinois Bankruptcy attorney Kevin O'Flaherty describes why O'Flaherty Law is the best choice for your bankruptcy or debt resolution matter.

  • We Give You Counsel From Expert Attorneys, Not Info-Tapes!  Our Illinois bankruptcy attorneys will give you a fresh start quickly and professionally so you can make a fresh start and move forward.
  • We Are Cost-Effective!  We understand that seeking bankruptcy and debt resolution means you're in a position where you're already surrounded by debt and financially strained.  We offer affordable rates that allow our clients to have peace of mind while having their financial matters met. 
  • We Have a Wide Network of Resources to Help!  Once we assist you in getting a fresh new start, you may need help from other professionals.  We are proud to offer a large network of resources of bankers, loan officers, financial advisors and local professionals to create a comprehensive solution that suits your needs.

Some of Our Accomplishments

Schedule a Consultation With Our

Illinois Bankruptcy Attorneys

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To schedule a free consultation at our offices in

Downers Grove,

Naperville,

Elmhurst,

Lake in the Hills,

Tinley Park, and

St. Charles

:

If our office locations are not convenient for you, we are happy to meet with you anywhere in Chicagoland that you find convenient.  

We are also happy to speak with you by phone.  ​​​

bankruptcy attorney illinois

Illinois

5002 Main Street, Ste 201 Downers Grove, IL 60515

(630)324-6666

info@oflaherty-law.com

Our  Office Locations: 

Downers Grove Attorneys, Downers Grove Attorney, Downers Grove Lawyer, Downers Grove Lawyers

Downers Grove

5002 Main St, Ste. 201 Downers Grove, IL 60515

Naperville Attorney, Naperville Attorneys, Naperville Lawyers, Naperville Lawyer

Naperville

105 Jackson Avenue, Ste. 4b Naperville , IL 60540

Elmhurst Lawyer, Elmhurst Lawyers, Elmhurst Attorneys, Elmhurst Attorney

Elmhurst

​110 E. Schiller Street, Ste. 220B ​Elmhurst, IL 60126

Lake in the Hills Attorneys, Lake in the Hills Attorney, Lake in the Hills Lawyer, Lake in the Hills Lawyers

Lake in the Hills

8411 Pyott Road, Ste. 107, ​Lake in the Hills, IL 60156

Tinley Park Attorney, Tinley Park Attorneys, Tinley Park Lawyer, Tinley Park Lawyers

Tinley Park

​16557 Oak Park Avenue, Ste. B, Tinley Park, IL 60477

St. Charles Attorneys, St. Charles Lawyers, St. Charles Attorney, St. Lawyer

St. Charles

210 S Fifth St, Ste. 107B, St. Charles, IL 60174

bankruptcy lawyer illinois

Meet Our Owner

Kevin O'Flaherty oversees all legal matters and is actively involved in making sure every client's case, big or small, is handled with excellence and attention to detail. He is available to contact through phone and email and his rates are available upon request.

Here's What Our Client's Have to Say:

John Paul Clancy
Says...

"Kevin and his firm, O'Flaherty Law, are friendly, efficient, knowledgeable and professional. Kevin is a master at bringing people together and sharing ideas."

Kevin Sender
Says...

"Kevin O'Flaherty and his team at O'Flaherty Law are among the friendliest and easiest to work with attorneys I've dealt with. I would suggest them to any friends or business associates."

Kevin O'Flaherty was instrumental during the purchase process of my new house. I highly recommend him and the entire firm!

An excellent client experience, I recommend O'Flaherty Law to all of my clients that have a need for consultation in family law.

John Paul Clancy
Says...
"Kevin and his firm, O'Flaherty Law, are friendly, efficient, knowledgeable and professional. Kevin is a master at bringing people together and sharing ideas."
Kevin Sender
Says...
"Kevin O'Flaherty and his team at O'Flaherty Law are among the friendliest and easiest to work with attorneys I've dealt with. I would suggest them to any friends or business associates."
Mike Stehlik
Says...
"Kevin and his team are my "Go To" resource for clients that need estate planning"
Kevin Koc
Says...
Kevin O'Flaherty was instrumental during the purchase process of my new house. I highly recommend him and the entire firm!
Stephen Petersen
Says...
An excellent client experience, I recommend O'Flaherty Law to all of my clients that have a need for consultation in family law.
Troy Golden
Says...
Kevin is an excellent attorney. He helped me incorporate by business and provides legal counsel as need. I highly recommend him.

Click here for Videos, Podcasts, and Articles by our Illinois Bankruptcy Lawyers & Illinois Debt Resolution Attorneys

illinois debt resolution attorney

Or Continue Scrolling Below to Browse some of our Most Helpful Articles

If I File For Bankruptcy Can I Keep My House and Cars?

If you file for bankruptcy, you still have an opportunity to keep your house and vehicles.  Whether this will be possible depends on four factors: (1) how much equity you have in the property that you are attempting to keep; and (2) whether your equity in the property exceeds the bankruptcy exemption for that type of property; (3) if you have a loan secured by the property, whether the bank will agree to reaffirm the loan despite the bankruptcy; and (4) whether you will be able to afford to continue to make your loan payments after the bankruptcy.

Read More
illinois debt resolution lawyer

If you file for bankruptcy, you still have an opportunity to keep your house and vehicles.  Whether this will be possible depends on four factors: (1) how much equity you have in the property that you are attempting to keep; and (2) whether your equity in the property exceeds the bankruptcy exemption for that type of property; (3) if you have a loan secured by the property, whether the bank will agree to reaffirm the loan despite the bankruptcy; and (4) whether you will be able to afford to continue to make your loan payments after the bankruptcy.

Read More

Preparing For Bankruptcy

illinois bankruptcy lawyer

Illinois bankruptcy attorney Kevin O'Flaherty explains everything you need to know about the Chapter 7 Bankruptcy process.

debt resolution attorney illinois

Our Illinois bankruptcy attorneys discuss the steps required to prepare a bankruptcy petition.  Before filing, the completion of an online credit counseling course is required. These are usually relatively short and the expense is nominal.  We discuss the filing of a your bankruptcy petition, which requires us to submit to the court information regarding your assets, liabilities, income, and expenses. We explain what happens at the first meeting of creditors and the effects of discharge of your debt.

Read the full article by our Illinois bankruptcy attorneys regarding preparation for bankruptcy.  

If I File For Bankruptcy Can I Keep My House And Cars?

In this article, our Illinois bankruptcy attorneys explain how you can keep your house and cars in a Chapter 7 bankruptcy. In most cases, our clients can file for bankruptcy without losing any assets including their home and vehicles.  If your vehicle or home is held as collateral, you will most likely have the option to sign a reaffirmation agreement.  This reaffirms the loan without discharging it in the bankruptcy process.  The Bankruptcy Code states that a portion of equity in particular types of property can be exempt from collection.  You can apply these exemptions to the property you decide to keep in order to avoid the trustee collecting the property to pay your creditors.  For example:

  • You are allowed to keep $2,400.00 of equity in your vehicles ($4,800.00 for a married couple filing jointly)
  • You are allowed to keep $15,000.00 of equity in your primary residence ($30,000.00 for a married couple filing jointly); 
  • There is a $4,000.00 wildcard exemption that you can apply to any property of your choice ($8,000.00 for a married couple). 

Read an article from our Illinois bankruptcy attorneys about keeping your property in bankruptcy.

In this Learn About Law podcast & videoblog, Illinois bankruptcy attorney Kevin O'Flaherty of O'Flaherty Law talks about some of the advantages of both chapter 7 and chapter 13 bankruptcy and how each can apply to your specific needs.

debt resolution lawyer illinois

In this article, our Illinois bankruptcy attorneys explain how you can keep your house and cars in a Chapter 7 bankruptcy. In most cases, our clients can file for bankruptcy without losing any assets including their home and vehicles.  If your vehicle or home is held as collateral, you will most likely have the option to sign a reaffirmation agreement.  This reaffirms the loan without discharging it in the bankruptcy process.  The Bankruptcy Code states that a portion of equity in particular types of property can be exempt from collection.  You can apply these exemptions to the property you decide to keep in order to avoid the trustee collecting the property to pay your creditors.  For example:

  • You are allowed to keep $2,400.00 of equity in your vehicles ($4,800.00 for a married couple filing jointly)
  • You are allowed to keep $15,000.00 of equity in your primary residence ($30,000.00 for a married couple filing jointly); 
  • There is a $4,000.00 wildcard exemption that you can apply to any property of your choice ($8,000.00 for a married couple). 

Read an article from our Illinois bankruptcy attorneys about keeping your property in bankruptcy.

What Happens At The First Meeting Of Creditors?

Illinois bankruptcy lawyer Kevin O'Flaherty explains the Chapter 13 bankruptcy process.

illinois bankruptcy lawyer
illinois chapter 7 bankruptcy lawyer

In this article, our Illinois bankruptcy lawyers explain what happens at the first meeting of creditors in a Chapter 7 bankruptcy. Once our Illinois bankruptcy attorneys file the bankruptcy petition, we accompany you to the “First Meeting of Creditors.”  This meeting is between you, your attorney and the bankruptcy trustee assigned to your case. The trustee asks you preliminary questions and may do the following:

  • Confirm your identity through a photo ID and social security card.
  • Swear you in and put you under oath. 
  • Ask if you've reviewed your schedules before they were filed and ask you to confirm that they are true and correct.  
  • Ask if you have reviewed required notices provided by your attorney regarding bankruptcy and your alternatives. 

Then the trustee will ask you specific questions about your finances.  The meeting is usually about 10 minutes long and should not be terribly stressful.

Read more about the First Meeting of Creditors from our Illinois bankruptcy attorneys.

Our Illinois Bankruptcy Lawyers are Happy To Meet With You in DuPage County, Will County, McHenry County, Kane County, Kendall County, Grundy County, Kankakee County, Dekalb County, LaSalle County, at our offices in Downers Grove, Elmhurst, Naperville, Lake in the Hills, Tinley Park, St. Charles or Any Other Location Convenient To You.

Further Reading from our

Illinois Bankruptcy Attorneys