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Tremendous debt can seem like an impossibly large burden on you and your loved ones. You may be facing the harsh realities of foreclosure, vehicle repossession, or creditor harassment. Sometimes, the best solution for these situations is filing for a Chapter 7 bankruptcy.

What is Chapter 7 Bankruptcy?

Filing for Chapter 7 is one way for individuals to regain control of their life when their debts have become unbearable. It is a type of liquidation bankruptcy that can eliminate most unsecured debts without the creation of a payment plan. Unsecured debts can include credit card debt, utility or medical bills, IRS debt, wage garnishments, and payday or personal loans.

When you file, creditors are legally obligated to cease contacting you about your debts, which is a large relief to most people who have been struggling to make payments. A case trustee appointed by the court will meet with you and your lawyer to fill in details about your financial picture and property. Many types of assets are exempt, but those that are not may be liquidated to help cover your debts.

Who is a Good Candidate for Chapter 7?

Individuals with little to no income, including those who have lost their job or are unable to work, may be ideal candidates for Chapter 7. This option could be worth considering if you are barely able or unable to afford the necessities of life, much less unsecured debt payments. At the Law Offices of Ivan Rueda, we know that being harassed by creditors sending a constant stream of notices and calls only makes things worse, and it is worth considering filing for Chapter 7.

This type of bankruptcy may be ideal for people with little or no large assets, such as renters or homeowners with little equity invested into their property, as any qualifying assets will be evaluated and liquidated. While assisting clients through Chapter 7 proceedings, our team will seek out any and all ways for you to reaffirm ownership of your items. If you have no sizable, qualifying assets, your debtors will collect nothing.

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Being harassed by creditors can lead you to feel exhausted and intimidated. It’s important to have legal counsel on your side while you navigate your options for resolving your debt. Whether you’re looking for a bankruptcy, immigration, or personal injury lawyer in Chicago, please reach out to our office for a free case evaluation.

Client Testimonials

My experience with Ivan Rueda was tremendous successful.

He discharge my case from felony to no case at all. He made whole process easy and painless. The process had some unexpected complications, and the Rueda`s team handled it professionally and expeditiously. He was very organized and efficient. He conducted herself in an utmost professional manner and clearly explained the final steps in the process.

Leonor Buenavides, Chicago IL from google reviews
Thank you for your service and appreciate the hard work on my case.

Excellent results. Also the amazing work of his assistant she available immediately and responded rapidly.I recomend this office 100.Keep up the good work with our Hispanic community and God bless.

Joseluis Cabrero, Chicago IL from google reviews
Thank you for an amazing experience!

Thank you for helping us with our immigration case and explaining step by the step the process. The outcome was exactly what Mr Rueda said it would be and I am so grateful.

Cassandra Flores, Chicago IL from google reviews
Serving Illinois cities such as:

Chicago, Bellwood, Berkley, Berwyn, Bridgeview, Broadview, Bolingbrook, Brookfield, Buffalo Grove, Calumet City, Cicero, Countryside, Elk Grove Village, Elmwood Park, Evergreen park, Forest Park, Franklin Park, Hanover park, Hillside, Hodgkins, La Grange, La Grange Park, Lyons, Markham, Maywood, McCook, Melrose Park, North Riverside, Northlake, Oak Lawn, Oak Park, Park Ridge, Skokie, Evanston, Des Plaines, Schaumbers, Wheaton, Waukegan, Joliet, Naperville, Aurora, Elgin, Downers Grove, Rivers Forest, River Grove, Riverside, Stickney, Stone Park, Summit, Westchester, Willow, La Villita, Lawndale Brighton Park, Pilsen, Midway, Avondale, Garfield Park, Logan Square, Schiller Park, Bensenville, Addison, Rolling Medows, Cook County and at the 26th and California Courthouse, Maywood Courthouse, Bridgeview Courthouse, Daley Center Courthouse and Markham Courthouse. Also serving Dupage, County, Cook County, Lake County, Kane County, and Will County