Business Bankruptcy Attorneys
in Chicago, Illinois

A business bankruptcy does not necessarily mean the end of your business. For many situations, bankruptcy can truly mean a fresh start and an opportunity to recover from devastating financial problems. Bankruptcy relief is available to business entities as well as individuals who have incurred personal debt from keeping a struggling small business afloat.

General Information:

The attorneys of Robert J. Adams & Associates can help you find acceptable bankruptcy solutions and shepherd you through the legal process. We take cases in Cook County and Lake County.

After the Chapter 7 discharge, the couple reconciles and now has sufficient income to pay the current mortgage; make payments to the Chapter 13 trustee, and have a sufficient amount for their everyday living expenses.

Courts, trustees, and mortgagee may look at such a “Chapter 20” with suspicion. But if circumstances have changed for the good the Chapter 13 should be confirmed and the debtor will be given a chance to save the home.

There are, of course, other changes in circumstances following a Chapter 7 discharge. An unemployed or underemployed Chapter 7 debtor may get a good-paying job. The list of positive changes of circumstances following a Chapter 7 could on and on.

Good things sometimes happen to good people.

The point is that something good happened after the Chapter 7 discharge. And the subsequent Chapter 13 case is being filed in “good faith.”

For more information on Chapter 20 Of Bankruptcy Code, a Complimentary consultation is your next best step. Get the information and legal answers you are seeking by calling today.