Consumer Bankruptcy Overview


COVID-19 has changed the landscape of Bankruptcy Law in Illinois. Robert J. Adams & Associates remains open to assist you through these challenging and confusing times. We are offering Remote Filings to Facilitate Our Clients.

$0 Up-Front (no down payment)* Your case can be filed almost immediately. Coming to the office is your choice. Many cases filed over the phone and/or by video For Immediate debt relief Call now: (312) 724-5650 *We advance the filing fee for qualified wage earners.

Robert J. Adams & Associates

Consumer Bankruptcy Overview

Bankruptcy is the legal process that enables individuals or businesses to publicly declare that they are unable to pay their debts. It helps people get relief from debt and other outstanding financial issues. In bankruptcy, people generally liquidate their assets to pay off debts in a Chapter 7 or follow a repayment plan over a period of time in a Chapter 13. The primary benefit of bankruptcy is that it affords people who file the opportunity to repay a portion of their debts without undergoing harassment by credit collectors. When an individual or business files for bankruptcy, a court order is promulgated prohibiting debt collectors from trying to collect the debt on their own for the duration of the bankruptcy process. People tend to file for bankruptcy only when their financial crisis worsens unbearably. People may hesitate in filing for bankruptcy because they fear the impact it will have on their credit score, however, when we compare the credit of people who have filed for bankruptcy with people going through defaults we discover that insolvency is usually associated with far worse outcomes than bankruptcy.

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