no need to leave your home to receive legal consultations and services - Call or click to learn more about phone and video conferencing with our attorneys

no need to leave your home to receive legal consultations and services - Call or click to learn more about phone and videoconferencing with our attorneys
Oflaherty Law, Illinois AttorneysNaperville Bankruptcy Attorneys | Bankruptcy Lawyers, Naperville IL

Naperville Bankruptcy Attorneys | Bankruptcy Lawyers, Naperville IL

Naperville Bankruptcy Attorneys | Bankruptcy Lawyers, Naperville IL

​Despite our affordable rates, O'Flaherty Law is not a bankruptcy mill. Our friendly Naperville bankruptcy & debt resolution attorneys provide individualized service to each of our bankruptcy clients, taking the time to explain all of your options and promptly answer any questions you may have along the way. Bankruptcy can be intimidating, but we make the process easy. We do the hard work for you, so you can focus on getting the fresh start that you and your family need. Because we have an experienced team of Naperville attorneys that practice other areas of law, we are uniquely qualified to advise you on other non-bankruptcy options to resolve your personal or business debt.

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​Despite our affordable rates, O'Flaherty Law is not a bankruptcy mill. Our friendly Naperville bankruptcy & debt resolution attorneys provide individualized service to each of our bankruptcy clients, taking the time to explain all of your options and promptly answer any questions you may have along the way. Bankruptcy can be intimidating, but we make the process easy. We do the hard work for you, so you can focus on getting the fresh start that you and your family need. Because we have an experienced team of Naperville attorneys that practice other areas of law, we are uniquely qualified to advise you on other non-bankruptcy options to resolve your personal or business debt.

Our

Naperville Bankruptcy Attorneys

provide excellent service in the following areas of law:

Your Community Law Firm

Why O'Flaherty Law for My

Bankruptcy & Debt Resolution

Matter?

In this video, our Naperville bankruptcy attorney describes why O'Flaherty Law is the best choice for your bankruptcy matter.

  • We Give You Counsel, Not Info-Tapes!  We are your community law firm, not a bankruptcy mill.  Many bankruptcy attorneys will not meet their clients for the first time until near the end of the case, at the first meeting of creditors.  Our friendly Naperville bankruptcy lawyers are happy to be your guide and answer any questions you may have from your free initial consultation until you have started your new life with a clean state. 
  • We Are Affordable!  We understand that if you are speaking to us about bankruptcy, the last thing you need are expensive legal fees.  We are proud of our affordable rates, which allow us to help more people in our community, and build lasting relationships that will persist long after your bankruptcy case is successfully closed. 
  • We Have a Wide Network of Resources to Help Get You Back on Your Feet!  Due to our deep involvement in the local community, we can help you get back on your feet in many more ways than simply performing legal work.  Our network of professionals can help you start your new life through credit counseling, financial advise, banking, leases, and vehicle purchases.  We are your resource hub and your advocate!

Some of Our Accomplishments

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DuPage County Probate Attorney
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Schedule a Free Consultation With Our

Naperville Bankruptcy Attorneys

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What to Expect From a Consultation

The purpose of a free consultation is to determine whether our firm is a good fit for your legal needs. Although we often discuss expected results and costs, our attorneys do not give legal advice unless and until you choose to retain us. Although most consultations are complimentary, some may carry a charge depending on the type of matter and meeting location.

Please contact our friendly

Naperville Bankruptcy Attorneys

at our nearest location to schedule a free consultation:

O'Flaherty Law of Naperville

1515 Legacy Circle, Ste. 1
Naperville
,
IL
60563
Get Directions

See below for our other locations. If our office locations are not convenient for you, we are happy to speak with you by phone.  ​​​

Hours:
9 am - 5 pm Mon - Friday
After 5 pm by Appointment
11 am - 3pm Saturday & 11 am - 2 pm Sunday by Appointment

O'Flaherty Law, Illinois attorneys, Iowa attorneys

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.

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

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

How To Avoid Filing For Bankruptcy In Bad Faith In Illinois

What are some common bad faith filing mistakes to watch out for? Illinois

In this article, we explain how to avoid filing for bankruptcy in bad faith in Illinois and answer the questions: What constitutes filing for bankruptcy in bad faith?, What are some common bad faith filing mistakes to watch out for?, and What factors do the courts consider when evaluating bankruptcy filings for bad faith?

Read More

Personal Bankruptcy: Chapters 7 And 13

There are two types of bankruptcy that you as an individual can apply for: Chapter 7 Bankruptcy and Chapter 13 Bankruptcy. Chapter 7 Bankruptcy

Chapter 7 Bankruptcy is preferable for individuals who are eligible for it.  In a Chapter 7 Bankruptcy, your debts, other than student loans and some types of tax debt, are completely wiped out.  The process is simple.  Our Naperville bankruptcy attorneys will prepare and file bankruptcy petition and schedules which list your assets, liabilities, income and expenses.  As soon as this petition is filed, your creditors are required to cease collection efforts.  Within 45 days of filing your bankruptcy petition, you and your attorney will meet with the bankruptcy trustee (the lawyer appointed to ensure that the interests of your creditors are protected).  This meeting is called the First Meeting of Creditors.  However, creditors rarely show up to these meetings.  The meeting takes about 5 minutes, and simply consists of the trustee asking you a few basic questions about the information on your schedules.  After the meeting, creditors will have 45 days to object to your discharge, which they rarely do in the absence of fraud.  If no objections have been filed within that 45 day period, your debts will be discharged and the case will be closed. Chapter 13 Bankruptcy

Chapter 13 Bankruptcy is appropriate for individuals who either make too much income to qualify for Chapter 7 Bankruptcy, or who have significant assets that they are worried about losing in a Chapter 7 Bankruptcy.  In a Chapter 7 Bankruptcy if you have more than $15,000.00 of equity in your home ($30,000.00 for a married couple), $2,400.00 of equity in your vehicles ($4,800.00 for a married couple), those assets may be subject to collection by the trustee for the payment of your creditors.  You should note that there are many exemptions that our Naperville bankruptcy attorneys can apply in order to allow you to keep assets over and above those amounts.  However, if after meeting with our bankruptcy attorneys, it appears likely that your assets would be at risk in a Chapter 7 Bankruptcy, Chapter 13 Bankruptcy may be an option for you. In a Chapter 13 Bankruptcy, your debts are not completely wiped out.  Rather, your attorney will work with the court, the trustee, and your creditors to prepare a court-approved payment plan whereby collection efforts will cease and your debts will be repaid in full or in part over the course of 3-5 years.  ​In a Chapter 13 Bankruptcy, your assets are not in jeopardy of collection for your creditors.  You may also be eligible for a Chapter 13 Bankruptcy if you do not meet the eligibility requirements for a Chapter 7 Bankruptcy.  Our experienced Naperville bankruptcy lawyers will assist you in determining which strategy is the right fit for you, and be your guide at every step along the way.

Business Bankruptcy: Chapter 7 & Chapter 11

Our team of Naperville attorneys practice not only bankruptcy law, but also focus heavily on business representation.  This makes us a rare resource for business owners in distress.  We can advise you on non-bankruptcy options for you and your business, such as corporate restructuring. 

Sometimes, however, bankruptcy is in fact the best option.  In a Chapter 7 Business Bankruptcy, the process is virtually the same as a Chapter 7 Personal Bankruptcy.  Your business' debts will be completely wiped out, and you will be able to continue your business without corporate restructuring and with a clean slate. A Chapter 11 Business Bankruptcy is similar to a Chapter 13 Personal Bankruptcy.  Rather than wiping out your business debt, your debt is restructured by agreement of your creditors, so that collection efforts cease and the debt can be paid over a longer period of time.  This is appropriate for businesses with significant assets that may be liquidated for creditors in a Chapter 7 Bankruptcy or a simple business dissolution and restructuring.  ​Our business and bankruptcy attorneys have the experience needed to help you formulate a strategy to save your business, while exploring every avenue in this complex area of law. ​

Further Reading from our

Naperville Bankruptcy Attorneys

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