Chapter 7 Bankruptcy: Wipe Out All Debt

Crystal Lake, Woodstock, McHenry Illinois

Chapter 7 Bankruptcy wipes out (discharges) all debts which are allowed to be eliminated. You will not have to repay them EVER. The Eric Pratt Law Firm provides individuals with a fresh start and a new beginning by helping to wipe out all these “dischargeable debts.” These debts include credit card bills, medical bills, judgments obtained by creditors, personal loans, business type debts, and commercial and residential leases. Even older tax debts can be wiped out where certain criteria are met.

Non-Dischargeable Debts

Some debts cannot be wiped out in bankruptcy. These non-dischargeable debts include:

  • Maintenance, Alimony and child support obligations;
  • Recent taxes owed governmental authorities;
  • loans guaranteed by the government;
  • criminal penalties and fines;
  • Debts due to intentional injury to a person or property;
  • Most Student loan debt.

The Process:

After determining that a Chapter 7 Bankruptcy filing is the right choice for you, we will ask that you provide us with some documents such as recent pay stubs, two years of tax returns, and copies of statements relating to the debts that we will be wiping out. These documents are needed in order to prepare your Chapter 7 Petition and Schedules. Your creditors are prohibited from taking any additional action against you to recover debt once we file your Petition with the court. This prohibition is called a Bankruptcy Stay. The “Stay” remains in effect throughout the bankruptcy process. The Eric Pratt Law Firm will make sure that creditors stop calling you.

After we file your Bankruptcy Petition, an attorney from the Eric Pratt Law Firm will appear with you at a meeting with the Chapter 7 Bankruptcy Trustee that is assigned to your case. This meeting lasts approximately 20 minutes and takes place about a month after we file your Bankruptcy Petition. The Trustee examines your Petition and asks some questions about your case. Your attorney from the Eric Pratt Law Firm will coach you before the meeting so that you are prepared for what takes place. If the Trustee does not need any further information, your case will be concluded. You can receive a discharge of your debts as soon as two months later depending on whether we have to defend against any objections filed by your creditors.

Contact the Eric Pratt Law Firm today for your free consultation. We will be happy to talk with you about your specific situation and help you decide if filing for Chapter 7 Bankruptcy is right for you. Let the Eric Pratt Law Firm give you a fresh start and new beginning by wiping out all of your dischargeable debts today!

— About Us —

The attorneys at Eric Pratt Law Firm understand the emotional issues that you are facing. We are committed to a personal relationship with you.

— We Are Here —

Rockford

5411 E. State Street, Suite 202
Rockford, IL 61108

— Contact Us —

5411 E. State Street, Suite 202, Rockford, IL

(815) 315-0683

Email Us

Email Us

BANKRUPTCY COUNSELING CLASS (Click here to take the bankruptcy class)

The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship. Disclaimer: The Eric Pratt Law Firm, P.C. is a Debt Relief law firm as defined by 11 U.S.C. 528. We help people file for Bankruptcy Relief under the Bankruptcy Code. We do not guarantee any result and prior results do not guarantee a similar outcome. This is an attorney advertisement and this website is for informational purposes only.