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Winnebago County Bankruptcy Attorney | Debt Resolution Lawyers, Winnebago County IL

Winnebago County Bankruptcy Attorney | Debt Resolution Lawyers, Winnebago County IL

Don’t make filing for bankruptcy any harder than it already is. If you have debt that’s piling up and you don’t know where to turn, call our friendly Winnebago County bankruptcy attorneys to schedule a free consultation. Make sure your rights a preserved as you file for bankruptcy or debt resolution. Our cost-effective services are a smooth and affordable solution to your debt complications.

Don’t make filing for bankruptcy any harder than it already is. If you have debt that’s piling up and you don’t know where to turn, call our friendly Winnebago County bankruptcy attorneys to schedule a free consultation. Make sure your rights a preserved as you file for bankruptcy or debt resolution. Our cost-effective services are a smooth and affordable solution to your debt complications.

Our Experienced Winnebago County Bankruptcy & Debt Resolution Attorneys Handle Cases Including But Not Limited To:

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Why O'Flaherty Law for My

Bankruptcy

Matter?

In this video, our Winnebago County Bankruptcy & Dispute Resolutions attorney 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! The attorneys at O'Flaherty Law pride themselves on providing personalized service to all of their clients. This means you won't be kept in the dark about the status of your case until the meeting with the trustee towards the end of the bankruptcy case, as is often the case with other attorneys. We care about our clients, and hope to advise you for any legal issues such as estate planning and home purchases, that may arise after your bankruptcy is complete.
  • We Are Affordable!  O’Flaherty Law understands that expensive legal fees seem very intimidating when considering your options for bankruptcy or debt negotiation.  We promise to put you in the best possible situation to succeed after your bankruptcy or debt negotiation hearing, while still offering very affordable rates.  If you can find a more affordable debt solution, we would like to hear about it.
  • We Have a Wide Network of Resources to Help Get You Back on Your Feet!  Your bankruptcy or debt negotiation hearing is only the beginning of your new life.  You will need a network of resources, not just an attorney.  O’Flaherty law has a network of resources such as lenders, bankers, vehicle solutions, and credit repair solutions to get your new life started the right way.

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Schedule a Free Consultation With Our

Winnebago County Bankruptcy & Debt Resolution Attorneys

Please contact our friendly

Winnebago County Bankruptcy & Debt Resolution Attorneys

at our nearest location to schedule a free consultation:

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 - Fri

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

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 Clients 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.

DuPage Family Law AttorneyDowners Grove Estate Planning Attorney
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."
DuPage Family Law AttorneyDowners Grove Estate Planning Attorney
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."
DuPage Family Law AttorneyDowners Grove Estate Planning Attorney
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 Winnebago County Bankruptcy & Dispute Resolutions Attorneys

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

How to Collect a Debt in Illinois

If you are a small business owner dealing with past due accounts receivable, or if you are having trouble paying your monthly bills and are receiving notices from creditors, you should acquaint yourself with the collection process.  This article will provide a summary of that process.  The narrative will be from the creditor’s perspective, but it will be equally helpful to debtors.

Bear in mind that each of the following steps tends to increase the pressure on the debtor to settle his debt.  Each successive step will only be required if the debtor is non-responsive to the previous steps.  In practice, it is usually unnecessary to take a collections case all the way through Step 7.

STEP 1:  Internal collections procedures:  Before you speak to a collections attorney, you should be sure to refine your own collection procedures.  Every business is different, but the following tips may help you increase your collections on your accounts receivable:

  • In your contracts with your customers, include an attorney-fee provision providing that if either party is required to take action to enforce the contract, the other party will be required to pay attorney fees and other expenses.
  • In your contracts with your customers, include a late fee provision, informing your customers that late fees will be charged on late invoices.
  • On the face of each invoice, you should explain your collection procedures.  Let your customers know in advance that if their invoice is x days past due they will be required to pay late fees, and that if it becomes days past due, the invoice will be sent to collections.
  • Follow up on past due invoices with letters explaining the consequences of continued failure to pay.

If you believe that it will not be possible to collect an account internally, you should hand the account to your attorney to begin a collection suit.

Read More

If you are a small business owner dealing with past due accounts receivable, or if you are having trouble paying your monthly bills and are receiving notices from creditors, you should acquaint yourself with the collection process.  This article will provide a summary of that process.  The narrative will be from the creditor’s perspective, but it will be equally helpful to debtors.

Bear in mind that each of the following steps tends to increase the pressure on the debtor to settle his debt.  Each successive step will only be required if the debtor is non-responsive to the previous steps.  In practice, it is usually unnecessary to take a collections case all the way through Step 7.

STEP 1:  Internal collections procedures:  Before you speak to a collections attorney, you should be sure to refine your own collection procedures.  Every business is different, but the following tips may help you increase your collections on your accounts receivable:

  • In your contracts with your customers, include an attorney-fee provision providing that if either party is required to take action to enforce the contract, the other party will be required to pay attorney fees and other expenses.
  • In your contracts with your customers, include a late fee provision, informing your customers that late fees will be charged on late invoices.
  • On the face of each invoice, you should explain your collection procedures.  Let your customers know in advance that if their invoice is x days past due they will be required to pay late fees, and that if it becomes days past due, the invoice will be sent to collections.
  • Follow up on past due invoices with letters explaining the consequences of continued failure to pay.

If you believe that it will not be possible to collect an account internally, you should hand the account to your attorney to begin a collection suit.

Read More

What Are My Options For Dealing With Debt?

Winnebago County Bankruptcy Attorneys, Winnebago County Debt Resolution Lawyers, Winnebago County Bankruptcy Lawyers, Winnebago County Debt Resolution Attorneys

Winnebago bankruptcy attorney, Kevin O'Flaherty, explains the Chapter 7 Bankruptcy process.

Winnebago County Bankruptcy Attorneys, Winnebago County Debt Resolution Lawyers, Winnebago County Bankruptcy Lawyers, Winnebago County Debt Resolution Attorneys

Individuals dealing with significant debt generally have three options:

  1. Retaining an attorney to negotiate a reduction of the debt and a payment plan;
  2. Filing Chapter 7 Bankruptcy to wipe out your debt; or 
  3. Filing a Chapter 13 Bankruptcy to establish a 3-5 year payment plan for your debt. 
Debt Negotiation
  • Debt negotiation may be your best option if you have less than $15,000.00 in debt, if most of your debt is not dischargeable in bankruptcy, or if you have property, like your home or vehicles that our Winnebago bankruptcy attorneys do not think you will be likely to keep in the bankruptcy.  (Read an article by our Winnebago bankruptcy lawyers about the types of property you can keep in a bankruptcy).  
  • Our Winnebago bankruptcy attorneys can often get your creditors to agree to a significant reduction of your debt and/or a manageable payment plan.  
  • Debt negotiation is a good option for anyone who has too much debt to comfortably pay off through normal budgeting, but not enough debt to have bankruptcy make sense. 
Chapter 7 Bankruptcy
Chapter 13 Bankruptcy
  • Our Winnebago bankruptcy attorneys tend to recommend Chapter 13 bankruptcy for individuals who would be a good candidate for Chapter 7 bankruptcy, but are not eligible for Chapter 7 bankruptcy due to income levels or have significant assets that they would be likely to lose in a Chapter 7 bankruptcy.  
  • In a Chapter 13 Bankruptcy, the court will approve a plan whereby your debt will be repaid over the course of 3 to 5 years.  
  • Unlike a Chapter 7 bankruptcy, your debt will not be discharged, but will ultimately be repaid, and the debtor's property is not collected to satisfy the debt.  
  • Chapter 13 bankruptcy is a good solution to buy individuals with higher incomes or asset levels time to pay off their debts. 

Why O'Flaherty Law For Your Bankruptcy?

This article highlights just a few of the reasons O’Flaherty Law provides above-and-beyond service to all of our clients:

1. We Give You Counsel, Not Info-Tapes!  

  • Many bankruptcy attorneys meet their clients for the first time on the day of the initial meeting of creditors (basically the end of the case).  
  • From the outset of your case, you receive the attention, advice, and support of our excellent attorneys.

2. We Are Not a Bankruptcy Mill!  

  • Rather than plugging you into cookie-cutter software run by assistants, we explore the alternatives to bankruptcy and go over all of your options before moving forward.  
  • Often negotiation with your creditors will be more advantageous than filing bankruptcy.  
  • Because we practice nearly all areas of law--not just Bankruptcy--we are able to discuss these alternatives and find the right solution for YOUR situation.  

3. We Are Affordable!  

  • The last thing you need when your back is against the wall is an expensive legal bill.  
  • We understand that you don't have money to blow on expensive legal fees.  If you find a more cost-effective solution, we would like to hear about it. 

4. We Have a Wide Network of Resources to Help Get You Back on Your Feet!  

  • Our client care does not end with legal work.  Due to our deep involvement in the community, we have an extensive network of professionals and other resources that can give you non-legal guidance and provide the services necessary to help get you back on your feet. 

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

This article highlights just a few of the reasons O’Flaherty Law provides above-and-beyond service to all of our clients:

1. We Give You Counsel, Not Info-Tapes!  

  • Many bankruptcy attorneys meet their clients for the first time on the day of the initial meeting of creditors (basically the end of the case).  
  • From the outset of your case, you receive the attention, advice, and support of our excellent attorneys.

2. We Are Not a Bankruptcy Mill!  

  • Rather than plugging you into cookie-cutter software run by assistants, we explore the alternatives to bankruptcy and go over all of your options before moving forward.  
  • Often negotiation with your creditors will be more advantageous than filing bankruptcy.  
  • Because we practice nearly all areas of law--not just Bankruptcy--we are able to discuss these alternatives and find the right solution for YOUR situation.  

3. We Are Affordable!  

  • The last thing you need when your back is against the wall is an expensive legal bill.  
  • We understand that you don't have money to blow on expensive legal fees.  If you find a more cost-effective solution, we would like to hear about it. 

4. We Have a Wide Network of Resources to Help Get You Back on Your Feet!  

  • Our client care does not end with legal work.  Due to our deep involvement in the community, we have an extensive network of professionals and other resources that can give you non-legal guidance and provide the services necessary to help get you back on your feet. 

The First Meeting Of Creditors In A Winnebago County Chapter 7 Bankruptcy Explained

We explain the Chapter 13 #bankruptcy process, including: #CreditCounseling, filing your bankruptcy petition and schedules, filing your Chapter 13 repayment plan, the confirmation hearing, and discharge of #debt.

Winnebago County Bankruptcy Attorneys, Winnebago County Debt Resolution Lawyers, Winnebago County Bankruptcy Lawyers, Winnebago County Debt Resolution Attorneys

The first step in initiating a Chapter 7 bankruptcy is for our friendly Winnebago bankruptcy lawyers to file your bankruptcy petition and schedules with the Bankruptcy Court for the Northern District of Illinois.  Your bankruptcy schedules provide the court with a detailed description of your assets, liabilities, income and assets.  

  • When your schedules have been filed, the bankruptcy court will automatically schedule a meeting known as the "First Meeting of the Creditors."  The First Meeting of Creditors is a meeting between you, your attorney, and the bankruptcy trustee.  Despite the title of the meeting, creditors almost never attend.   
  • The bankruptcy trustee is an attorney appointed by the court to review your bankruptcy filings to protect the interests of your creditors and prevent fraud.  At the First Meeting of the Creditors, the trustee will briefly review your bankruptcy schedules and ask you some basic questions.  At the end of the meeting the trustee will determine whether you have any non-exempt assets that can be collected to pay your debts and whether your debts should be discharged. 
  • These meetings are typically very low pressure and last between 5 to 10 minutes.  We typically advise our clients that the trustee is not trying to trick them or trap them, that they should feel comfortable answering the trustee's questions openly and honestly, and that the vast majority of these meetings end with the trustee finding no assets to collect and recommending that the debt be discharged. 
  • If all goes as planned, the case will remain open for a few weeks, during which creditors can object to discharge.  After the meeting, you will be required to take a brief online course regarding financial management and file a certificate of completion with the court.  Once the period for creditors to object to discharge has passed, your case will be closed and your debts will be discharged.  Creditors almost never object to discharge.  

The bottom line is that the First Meeting of Creditors should not be stressful.  Our friendly Winnebago bankruptcy attorneys will prepare you for the meeting and ensure that any issues that may arise at the meeting are identified and dealt with beforehand.  

Read an article by our Winnebago County bankruptcy attorneys about the First Meeting of Creditors.

Further Reading from our

Winnebago County Bankruptcy & Debt Resolution Attorneys