Bankruptcy Lawyer Serving South Side

Frequently Asked Questions

Glanzer & Associates, P.C., South Side Bankruptcy lawyers, can answer all of your bankruptcy questions.  However, there are many common questions we have provided answers to for your assistance.

What debt will bankruptcy not get rid of?

• Money owed for child support or alimony;
• Most tax obligations;
• Debts you fail to list on your bankruptcy petition;
• Debts resulting from "willful and malicious" harm, such as when you are required to make restitution;
• Student loans owed to a school or government body, with a few exceptions.

What can I keep if I file Chapter 7 Bankruptcy?

There are certain exemptions to what you must give up in a Chapter 7.  These are allowed exemptions so as not to create undue hardship in a family.  They include: 

• Furniture
• Clothing
• Some Equity in your home
• Some Equity in your car
• Cash in various types of accounts, such as savings, etc.
• Pension plans or other retirement accounts

Will my credit be ruined?

There may be some impact on your credit immediately after filing for bankruptcy; however your credit was likely already adversely affected due to late payments and serious delinquencies.  Our trained staff can work with you to improve your credit score once the bankruptcy is finalized.

Is there a way to stop collection agencies from calling

Once a client retains the services of an attorney, collection agencies may no longer contact you, but must call your legal representative.  If you obtain our services, we will handle all the creditors on your behalf.  

Will I have to go to court?

There will be a meeting called the "meeting of creditors" where you will meet with a bankruptcy trustee and any creditor who chooses to come. This normally takes place about 40 days after your bankruptcy filing.  The trustee will be assigned to oversee your case.  You will be briefly asked about your petition and your financial situation.  Unless you choose to dispute any debt, or a creditor does, this will be the only court appearance you will need to make.

South Side Bankruptcy Attorney

We have three offices to serve you in the Greater Chicago area, including South Side, Downtown and NW Suburban.  Our dedicated and caring team of lawyers is ready to answer all of your questions. Contact us today for assistance with your bankruptcy.

Contact a South Side Bankruptcy Attorney from Glanzer & Associates, P.C. for answers to your bankruptcy questions.