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Oflaherty Law, Illinois Attorneys

Davenport Chapter 7 Bankruptcy Attorneys | Chapter 7 Bankruptcy Lawyers Davenport

Davenport chapter 7 bankruptcy lawyers

If you need a way out from under your debt, our Davenport chapter 7 bankruptcy attorneys will educate you on your options and provide you with a cost-effective fresh start. We are proud of our affordable rates and above-and-beyond personalized service.

Our

Davenport Chapter 7 Bankruptcy Attorneys

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Take the Next Step: Schedule a Free Consultation With Our

Davenport Chapter 7 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

Davenport Chapter 7 Bankruptcy Attorneys

at our nearest location to schedule a free consultation:

O'Flaherty Law of Davenport

201 W 2nd St Ste. 400A
Davenport
,
IL
52801
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 - 9 pm, Mon-Fri
Saturday 9 am- 9 pm & Sunday 12 pm - 8pm
by appointment

Some of Our Accomplishments

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Here's What Our Clients Have to Say:

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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.

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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.
chapter 7 lawyer Davenport

Davenport 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.

Click Here for Videos, Podcasts, and Articles by Our

Davenport Chapter 7 Bankruptcy Attorneys

Davenport Chapter 7 Bankruptcy Attorneys | Chapter 7 Bankruptcy Lawyers Davenport

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

The Chapter 7 Bankruptcy Process Explained

Davenport chapter 7 bankruptcy lawyers

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

Davenport chapter 7 bankruptcy lawyers

Our Davenport bankruptcy attorneys discuss the steps required to prepare your bankruptcy petition.  Before filing, you are required to complete an online credit counseling course. These are usually relatively short and the expense is nominal.

Our Davenport Bankruptcy and debt resolution attorneys will work with you to help you provide us with information regarding your assets, liabilities, income and expenses. After a meeting with the creditors, your case will be heard in the appropriate court where your bankruptcy will then be discharged.

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

What Can You Keep After a Bankruptcy in Davenport?

In this video, we explain when it makes sense to file a Chapter 13 bankruptcy rather than a Chapter 7 bankruptcy.

Davenport chapter 7 attorney

Keeping your home or vehicle often depends on how much equity you have in each piece asset.  For example, the equity in a property is determined by the most current resale value minus the principle balance of any loans secured by the property. 

If you do file for the bankruptcy, the trustee will seek collection of your assets to fulfill your debts.  The Bankruptcy Code and laws in Davenport states that a portion of equity in particular types of property can be exempt from collection.  These exceptions on the property you decide to keep in order to avoid the trustee collecting them on your behalf.  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 Davenport bankruptcy attorneys about keeping your property during Davenport bankruptcy proceedings.

Davenport Chapter 7 Bankruptcies: What Happens at the First Meeting of Creditors?

Davenport attorney explains the Chapter 13 bankruptcy process.

Davenport chapter 7 lawyer

Once our Davenport bankruptcy attorneys file your bankruptcy petition, we accompany you to the “First Meeting of Creditors.”  While this seems intimidating, it's misleading considering creditors rarely attend these meetings.  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. 

Once these questions are put on record and established, the trustee asks you questions regarding your schedules and finances. You can read a transcript of the bankruptcy trustee's usual questions here. ​Once the trustee enters a finding stating that you have no non-exempt assets for collection on your behalf they will recommend  your debts be released.  Once this happens, the case will close for a brief period.  During this time creditors have the right to object to the discharge, which seems intimidating but rarely happens.Read more about the First Meeting of Creditors.

Further Reading From Our 

Davenport Chapter 7 Bankruptcy Attorneys

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