Are You Living with Overwhelming Debt in Oak Park, IL?

Our Bankruptcy Attorneys Can Help

As an affluent village in the Chicagoland area, Oak Park has been home to a number of successful individuals, including writer Ernest Hemingway, McDonald’s founder Ray Kroc, and renowned architect Frank Lloyd Wright. Dubbed the “World’s Largest Village,” this cultured community spans four ZIP Codes (60301 to 60304). Oak Park offers excellent schools, robust theatre and dance, and one of the nation’s largest selection of homes designed by Frank Lloyd Wright.

Unfortunately, some residents of Oak Park have lost the financial ability to enjoy the village to its fullest. No one ever plans to struggle financially. Without warning, life can throw complications your way leaving you with credit card debt, medical bills and home and auto loans you can no longer afford to pay. If you find yourself overwhelmed by debt, declaring Chapter 7 or Chapter 13 bankruptcy can be just the relief you need to turn things around.

For more than 20 years, the experienced bankruptcy attorneys at Thomas W. Lynch & Associates, P.C. have been helping the residents of Oak Park and surrounding areas navigate the bankruptcy process so they can get a fresh start toward a brighter financial future.

Explore your debt relief options today! Call (708) 598-5999 today to schedule a free consultation with a bankruptcy attorney at Thomas W. Lynch & Associates, P.C. You can also complete our online contact form to have someone from our office contact you.

Oak Park Residents Have a Variety of Bankruptcy Options

When you have past due bills, figuring out how to pay them is stressful enough. The last thing you need is the added pressure that comes with harassing collection calls, embarrassing wage garnishment and costly legal judgments. By filing for bankruptcy, you put an immediate stop to these distressing activities while the court determines how to move forward with resolving your debts.

The four most common bankruptcy filings Oak Park individuals and businesses select to help improve their financial situation include:

Chapter 7 Individual Bankruptcy: You must meet certain qualifications to file Chapter 7 bankruptcy as this type of filing discharges all of your debts except those that are non-dischargeable by law. Non-dischargeable debts include certain tax obligations, student loans and child support payments. Usually this type of filing is for individuals who are unemployed or have lower than average income. While there is a possibility of losing non-exempt property like a second car, individuals can often keep their primary home and car.

Chapter 13 Individual Bankruptcy: Individuals who have a good source of income but need to reorganize their debt in order to catch up on delinquent payments are ideal candidates for a Chapter 13 filing. The court-approved debt repayment plan requires making reasonable monthly payments to a trustee. The trustee distributes those payments to creditors as set forth in the repayment plan. Collection efforts must cease while the plan is in effect and unsecured debt is often fully or partially discharged without repayment.

Chapter 7 Business Bankruptcy: Failing businesses that are ready to call it quits file Chapter 7 business bankruptcy. This filing allows the trustee to sell your business assets to cover as much debt as possible. The court discharges any debts that are not covered by the sale of assets and the business closes shop for good.

Chapter 11 Business Bankruptcy: Businesses that still have a fighting chance file Chapter 11 business bankruptcy. This type of filing restructures all business debts and allows the business to continue to operate while making reasonable and often substantially reduced payments.

Find out which bankruptcy filing is best for your situation. Call (708) 598-5999 to talk with a bankruptcy lawyer today, or complete our online form and a member of our firm will contact you.

Making Bankruptcy Easy & Affordable for Oak Park Residents

The bankruptcy attorneys at Thomas W. Lynch & Associates, P.C. understand that engaging an attorney for the first time can be an intimidating experience. They go the extra mile to ensure clients understand the process at every step so there are no surprises. In fact, when you select Thomas W. Lynch & Associates, P.C., you will never worry about outrageous legal fees or unexpected expenses. You will receive an engagement letter up front that outlines what you can expect. Plus, the firm offers other value-added services that make it a clear choice for Oak Park residents:

• Convenient evening and weekend appointments
• Flexible payment plans
• Two accessible office locations in Berwyn, IL and Hickory Hills, IL
• Free parking

Get the financial peace of mind you deserve. Call (708) 598-5999 today to speak with a bankruptcy attorney at Thomas W. Lynch & Associates, P.C.