Bankruptcy and Debt Relief

Free Bankruptcy Consultation

Our law firm files Chapter 7 bankruptcy cases for individuals and businesses in Lake County, Illinois and McHenry County.  We offer a free bankruptcy consultation at our Lake County offices in Round Lake and Waukegan, Illinois,with no obligation.  At your free consultation you will meet with attorney Jim Magee or attorney Michelle Magee.  They care and can help.  They will discuss the specifics of your overall financial situation with you, give you options and make recommendations.  If bankruptcy is a good option for you, we will give you a list of costs and discuss the possibility of a payment plan.  We will also explain the process to file bankruptcy and answer any questions that you have.  In the event bankruptcy is not the best option for you, you will discuss in depth other options such as debt settlement, asset protection and/or short sale (if you own real estate).

what exactly is bankruptcy?

The term "Bankruptcy" generally refers to the United States Bankruptcy law.  The Bankruptcy law is intended to help and protect persons (and businesses) in financial difficulty and to provide an opportunity for a fresh start, free from unsecured debt.  Unsecured debt is debt with no collateral, for example: credit cards, personal loans and medical bills.  Bankruptcy also discharges your liability for secured debt, or debt with collateral such as a home mortgage or car loan; however, if you want to keep the secured property, you will need to keep making the loan payments and in some cases, reaffirm the debt. When you file bankruptcy, you need to list your creditors (your debts) and you assets (your property).  Although the law requires complete disclosure to the Court, the law also provides exemptions that allow the debtor to keep equity in certain types of property.  Because of these exemptions, in the vast majority of cases, Bankruptcy does not result in the loss of any property.  The ability to keep property is an important consideration - it is also an issue that can (and should be) determined with great accuracy before a case is even filed and something you will discuss with one of our attorneys.

the process for filing Chapter 7 bankruptcy

Once you decide to retain our law firm for bankruptcy, and we receive your deposit or payment towards costs and fees, we will need your financial statements listed on the bankruptcy checklist and any other items we have requested from you that will be needed for your specific case.  We will then prepare your bankruptcy petition and schedule a follow up appointment to review your petition with you and to have you sign it.  Before you can file bankruptcy, you need to complete a bankruptcy counseling course which is available online or by phone, and in some instances in person.  

immediate debt relief

As soon as your bankruptcy case is filed, you receive protection from creditors.  A "stay" is applied, and none of your creditors will be able to contact you:  all phone calls, letters and other communications stop right away.  If a creditor continues to contact you after they know that your case has been filed (and without permission or "relief from stay" from the bankruptcy court, the creditor will be violating federal law and may be sanctioned.
bankruptcy Disclosure

We are a debt relief agency based in Round Lake, Illinois.  We help people and businesses obtain bankruptcy relief under the federal Bankruptcy law, serving the Northern Lake County communities of Antioch, Beach Park, Gages Lake, Grayslake, Gurnee, Fox Lake, Hainesville, Ingleside, Lake Bluff, Lake Villa, Libertyville, Lindenhurst, Mundelein, North Chicago,  Round Lake, Round Lake Beach, Round Lake Heights, Round Lake Park, Wadsworth, Waukegan, Wildwood and Zion.

Round Lake Office

444 North Cedar Lake Road
Round Lake, IL 60073
Phone (847) 546-0055
Fax (847) 546-8390

Waukegan Office

One North County Street
Waukegan, IL 60085
Phone (847) 360-0055
Fax (847) 360-1004