Bankruptcy Attorney in Brookfield, IL

Struggling with Debt in Brookfield, IL?

Solutions Are Available with the Help of a Bankruptcy Attorney

Fiscal Cliff Effects

Fiscal Cliff Effects

Founded in 1889 and originally known as Grossdale, the Village of Brookfield has been long recognized as a great place to live. This Chicago suburb earned the title “All American City” in 1952 and was named a “Bicentennial Community” in 1976, when it was awarded a replica of the Liberty Bell.

Brookfield is a prosperous community with a median household income of more than $80,000. Prosperity is often a function of luck, however, and sometimes bad luck is unavoidable. The loss of a job, unexpected healthcare expenses, or other misfortunes can lead to unmanageable debt and financial ruin. If you are a Brookfield resident who has fallen on hard times and can see no way out, you should know that you have options.

Whether you are facing foreclosure or just keep falling behind as you juggle credit card debt, the experienced bankruptcy lawyers at the Law Offices of Thomas W. Lynch & Associates can give you the advice and assistance you need to set your mind at ease.

It’s time to stop wondering what to do about your financial problems. Sit down with one of our bankruptcy attorneys for a free face-to-face consultation. Call us at (708) 598-5999 and we’ll give you a prompt appointment with a bankruptcy professional. If you prefer, you can fill out our online contact form and we’ll contact you.

Put an End to Worry and Stress over Your Finances

Few things in life are more troubling than dealing with financial woes. The inability to manage debt can lead to marital conflict, strained friendships, and family strife. Furthermore, not being able to pay your bills can harm your self-esteem, make you feel like a failure, and can even trigger clinical depression.

Are you afraid to answer the phone because a debt collector might be calling? Is your mailbox filling up with letters from banks threatening foreclosure on your mortgage or repossession of your vehicle? Is the IRS hounding you for unpaid taxes? Have you maxed out your credit cards and feel you have nowhere left to turn?

Help is available.

Put an end to worry and stress. Learn about your options and ease your troubled mind by consulting with a bankruptcy professional. Fill out our online contact form or call the Law Offices of Thomas W. Lynch & Associates at (708) 598-5999 to make an appointment with an experienced bankruptcy attorney today.

Brookfield Residents Have Debt Relief Opportunities

We understand that people sometimes face financial difficulties through no fault of their own. Businesses have struggled in a faltering economy. Jobs have been lost as businesses downsized or closed. Exorbitant healthcare expenses can eat up your life savings in just a few days. Troubled real estate markets have made it difficult to refinance or to sell a home at a profit. Whatever the source of your financial woes, we are here to help. Our attorneys have handled thousands of bankruptcy cases, and we understand that no two cases are alike. We will give you an individualized assessment and make recommendations that are tailored to your specific needs.

Bankruptcy laws offer a fresh start for individuals and business owners in your situation. We know that people worry about the stigma associated with bankruptcy, but if you have serious debt problems, it is likely that you already have a poor credit rating and limited borrowing ability. Bankruptcy is often the best first step toward restoring your creditworthiness.

Individuals generally have two personal bankruptcy options. Other options are available for business bankruptcies. Our experienced bankruptcy attorneys can help you choose which option is best for you.

Chapter 7 Personal Bankruptcy

Often referred to as “liquidation,” Chapter 7 is a personal bankruptcy option that wipes out all of your unsecured debt (with a few exceptions that we will carefully review with you). Under Chapter 7, a court-appointed trustee has the authority to sell your property and to use the proceeds of the sale to pay your creditors. Illinois law provides for a number of generous exemptions that allow you to keep many personal effects and a substantial amount of your property. After reviewing your situation in detail, our bankruptcy lawyers can advise you whether you are eligible for a Chapter 7 bankruptcy.

If you have secured debt (for instance, a mortgage on your home or a lien on your vehicle), Chapter 7 provides a number of options, including:

  • surrender of the property
  • negotiation of a new payment schedule
  • payment to the creditor of the property’s current value

One of our professional bankruptcy lawyers will review these options with you so that you can decide which one is best for you.

Chapter 13 Personal Bankruptcy

Not everyone is qualified to seek debt liquidation under Chapter 7, and for many, there are advantages to filing under Chapter 13, which is essentially a debt repayment plan. You propose terms under which you will repay at least a portion of your debt to your creditors. If the court approves your plan, payments will be deducted from your paycheck and sent to a court-appointed trustee, who will distribute them to your debtors in accordance with your plan and with the requirements of bankruptcy law. While the Chapter 13 plan is in effect, a court order will prevent your creditors from harassing you or seeking any repayment that has not been approved by the court. As a general rule, you are able to keep and to use your property while the Chapter 13 plan remains in effect.

The experienced bankruptcy professionals at the Law Offices of Thomas W. Lynch & Associates have years of experience putting together chapter 13 plans that win court approval. We understand the requirements of the law and the expectations of bankruptcy judges. We will guide you in preparing a Chapter 13 plan that meets your needs while having a strong likelihood of being approved by the court.

Business Bankruptcy

If you own an incorporated family business or are one of the owners of a larger business that is in financial trouble, the Chapter 11 business bankruptcy option may be the solution to your problems. Chapter 11 is a debt reorganization plan that helps a business remain in operation while meeting its obligations to its employees and debtors.

If your business is really struggling and you see no point in continuing operations, a Chapter 7 business bankruptcy plan may be the answer. If you qualify for Chapter 7 business bankruptcy, you will be required to completely liquidate your business assets and to use the proceeds to pay back as much debt as possible. All remain debt will be eliminated but you will have to close your business for good.

Don’t spend another minute coping with the stress and worry of unmanageable debt. Discuss your options with an experienced bankruptcy lawyer. To obtain your free consultation, call (708) 598-5999 or fill out our online form and you will receive a prompt response.

Thomas W. Lynch & Associates Benefits Many Brookfield Residents

The attorneys and staff members at the Law Offices of Thomas W. Lynch & Associates are dedicated to helping you get through these difficult times. We offer reasonable fees and affordable payment plans.

You can schedule an appointment at your convenience (including evenings and weekends) at our Hickory Hills or Berwyn offices. We have been in business for more than twenty years and in that time have handled in excess of 3,000 bankruptcy filings. We are fully insured debt relief agency and our attorneys are respected members of a variety of professional organizations.

Contact the Law Offices of Thomas W. Lynch & Associates today to make an appointment with a bankruptcy professional. Simply call (708) 598-5999 or fill out our online contact form. Our law firm has years of experience servicing residents in the 60513 ZIP code and surrounding areas.