Champaign County Chapter 7 Bankruptcy Attorneys

Champaign County Chapter 7 Bankruptcy Attorneys

Navigate your chapter 7 bankruptcy with our experienced and dedicated Champaign County bankruptcy attorneys. No need to cut corners with our cost effective lawyers.

Our

Champaign County Chapter 7 Bankruptcy Attorneys

Provide Excellent Service in:

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You Don't Have to Leave Your Home For Your

Chapter 7 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 County Chapter 7 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 County Chapter 7 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

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DuPage County Probate Attorney
Learn More About Our Firm
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Champaign County Chapter 7 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 County Chapter 7 Bankruptcy Attorneys

Champaign County Chapter 7 Bankruptcy Attorneys

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

Chapter 7 Bankruptcy Process

In this article, our Champaign County chapter 7 bankruptcy lawyers explain the chapter 7 bankruptcy process. Bankruptcy is an excellent tool to allow individuals and businesses to get a clean slate and a fresh start.  However, it is often not the only option.  Depending on the number of creditors, the type of debt, and the amount of debt, working with our Champaign County attorneys to renegotiate your debt may be preferable to bankruptcy.  Creditors are often willing to significantly reduce the amount of your debt and allow it to be paid over time, especially when they are dealing with your attorney and there is a credible threat of bankruptcy.  Our experienced Champaign County attorneys will educate you on your options and help you choose the right course of action for you, your family, or your business.  


Champaign County Chapter 7 bankruptcy lawyer Kevin O'Flaherty discusses the chapter 7 bankruptcy process in this Learn About Law episode.

Am I Eligible for Chapter 7 Bankruptcy?

In this video, our Champaign County chapter 7 attorneys go into depth on how the bankruptcy means test can be used to determine your eligibility to file chapter 7 bankruptcy in Illinois. The mean test is able to calculate your disposable monthly income by subtracting monthly expenses from your currently monthly income for the past six months before filing. Typically, with a higher income you are less likely to be eligible for chapter 7 bankruptcy. Champaign County attorneys at O'Flaherty law will help you determine your consumer debt versus your business debt. From there you will be advised by our knowledgeable lawyers on whether to take the means test and what questions you may have while navigating through chapter 7 bankruptcy. 


Our Champaign County chapter 7 bankruptcy attorney Andrew explains bankruptcy means test works in Illinois, how to review your assets and expenses, different forms to use when completing the means test, and finally what to do when you fail or pass the bankruptcy means test.

Chapter 13 vs. Chapter 7 Bankruptcy

In this video, our Champaign County 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 County 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.

Our Champaign County chapter 7 bankruptcy attorney Andrew explains bankruptcy means test works in Illinois, how to review your assets and expenses, different forms to use when completing the means test, and finally what to do when you fail or pass the bankruptcy means test.

Further Reading From Our 

Champaign County Chapter 7 Bankruptcy Attorneys