Champaign Chapter 13 Bankruptcy Attorneys

Champaign Chapter 13 Bankruptcy Attorneys

Our Champaign chapter 13 bankruptcy attorneys will use their expert knowledge to ensure the best repayment plan for you during chapter 13 bankruptcy.

Our

Champaign Chapter 13 Bankruptcy Attorneys

Provide Excellent Service in:

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You Don't Have to Leave Your Home For Your

Chapter 13 Bankruptcy

Matter

In this video, attorney Kevin O'Flaherty describes ways you can receive legal services from the comfort of home.

Take the Next Step: Schedule a Free Consultation With Our

Champaign Chapter 13 Bankruptcy Attorneys

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

Champaign Chapter 13 Bankruptcy Attorneys

at our nearest location to schedule a free consultation:

O'Flaherty Law of Champaign

2506 Galen Dr., Ste. 108A Champaign, IL 61821

Phone:

(217) 803-8679

E-Mail:

champaign.il@oflaherty-law.com

Hours: 9 am - 7 pm Monday - Friday 11 am - 3pm Saturday 11 am - 2 pm Sunday

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

Some of Our Accomplishments

Naperville attorney
DuPage County Probate Attorney
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champaign bankruptcy attorneys

Champaign Chapter 13 Bankruptcy Attorneys

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.

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Champaign Chapter 13 Bankruptcy Attorneys

Champaign Chapter 13 Bankruptcy Attorneys

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

The Champaign Chapter 13 Bankruptcy Process Explained

Our Champaign chapter 13 bankruptcy attorney Kevin O'Flaherty sits down to explain the process of chapter 13 bankruptcy. Once our experienced attorneys decide Chapter 13 is the right plan for you and your financial needs, we then have our clients take a credit counseling course with certification of completion before filing. From there attorneys will be able to collect your financial information and scheduling that includes: assets, liabilities, income, and expenses. These will then be submitted to the court who will notify any creditors you owe money to of the bankruptcy. Collections from these creditors will be put on pause while our Champaign attorneys help you come up with a payment plan that satisfies your needs and income. A Trustee, or court appointed attorney, will be a part of the process as well collecting the payments for creditors. Be assured that for every part of the process, and for every meeting, our Champaign attorneys will be there to help you file your Chapter 13 bankruptcy case. 


Champaign Chapter 13 bankruptcy lawyer Kevin O'Flaherty discusses the process of filing a chapter 13 bankruptcy including the repayment plan, the confirmation hearing, and discharge of debt.

The Chapter 13 Repayment Process

In this video, our Champaign chapter 13 bankruptcy attorneys break down the repayment processes of chapter 13 bankruptcy. In a chapter 13 bankruptcy you have to determine how much of your income is distributed throughout a 3-5 year period that is paid to your trustee or the court appointed attorney that looks over your case. The trustee then gives and distributes these payments to your creditors you are in debt to. Different creditors can result in different types of payment plans that vary from how much you pay a month, to how much is distributed to each creditor. These types of creditors are: priority, secured, and unsecured creditors. Our Champaign attorney goes on to explain each type of creditor in full to give insight to which one may be right for you!


This Learn About Law episode by our Champaign chapter 13 bankruptcy attorneys covers the chapter 13 bankruptcy plans, including different classes of creditors, how each creditor must be treated under the payment plan, and how the length of the payment plan is determined.

Chapter 13 vs. Chapter 7 Bankruptcy

In this video, our Champaign chapter 13 bankruptcy attorneys explain the differences and advantages to each type of bankruptcy a client could file and how it is possible to keep your home and vehicles in a chapter 7 bankruptcy. All of your debts in Chapter 7 are dischargeable. If your home or car has over or above exemption amounts then the trustee can collect that to pay the creditors, but most times clients have under the exemption amount and are able to keep their belongings with the help of our advising at O'Flaherty Law. Our Champaign attorney goes on to explain how Chapter 7 usually makes the most sense for wiping out your debt. Your future income is used to pay your debt in Chapter 13 instead of liquidation. It usually takes 3-5 years to pay off this debt. Unless there are certain situations, Chapter 7 is more beneficial unless you are ineligible. Ineligibility can be due to things Such as if you have a high income, or have already filed for Chapter 7 in the past ten years, instead Chapter 13 may be right for you. Chapter 13 may be suitable for people who have a lot of equity in their home or car as well to avoid them being taken in a Chapter 7 case. 


This Learn About Law episode by our Champaign chapter 13 bankruptcy attorneys covers the chapter 13 bankruptcy plans, including different classes of creditors, how each creditor must be treated under the payment plan, and how the length of the payment plan is determined.

Further Reading From Our 

Champaign Chapter 13 Bankruptcy Attorneys