Serving Clients Throughout The Chicago Metro Area And Collar Counties
The U.S. Bankruptcy Code allows individuals, families and businesses an opportunity to get a fresh start or reorganize from crippling debt. Since the founding of our country, hard-working people have turned to the bankruptcy courts for relief from collections actions, wage garnishments, judgments and loss of assets to creditors. If you are struggling under the heavy burden of debt, filing bankruptcy could be your best option for a fresh start or to reorganize your debt with creditors.
The need to file bankruptcy sometimes cannot be avoided, and there is no need to feel ashamed to file, if it is the best option for you, your family or your business. Millions of Americans seek the protection of the U.S. bankruptcy courts every year, mostly under Chapter 7 to eliminate their consumer debt.
Get The Fresh Start You Need OR YOUR BUSINESS NEEDS
We are the bankruptcy and debt relief* attorneys of Petti Murphy & Associates. We help people and businesses throughout the Chicago metro area resolve their debt problems through the bankruptcy courts or debt forgiveness plans.
Our lawyers provide legal counsel for clients throughout Cook County, Kane County and DuPage County, Illinois, and collar counties around metropolitan Chicago, including the tri-cities area. Call either of our office locations or contact us by email to discuss your legal concerns with one of our Geneva or Orland Park business and consumer bankruptcy attorneys today.
Learn more at our Bankruptcy Law and Adversary Proceedings information pages.
Our attorneys have more than 100 combined years of litigation and negotiating experience and will move your bankruptcy case through the process as efficiently and cost-effectively as possible.
Chapter 7 Bankruptcy
Frequently referred to as liquidation proceedings, Chapter 7 individual debt relief is what most individuals and families think of when they consider filing bankruptcy. Chapter 7 gives you the opportunity to eliminate consumer debt, such as credit card debt, medical bills and bank loans, after meeting certain criteria. Not all debts can be eliminated. Child support, alimony and government-backed student loan debt, for example, usually must be repaid. Through Chapter 7, it is often possible to keep (reaffirm) mortgage and family car loans, while eliminating other debts.
Learn more at our Chapter 7 FAQ page.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy allows debtors to consolidate all of their debts, including support payments and student loans. Under Chapter 13, debtors repay all or a percentage of their restructured debt under a court-supervised three- or five-year repayment plan. The single monthly payment plan is typically less than the combined payments of all individual debt and can save thousands of dollars in interest, penalties and late fees.
Chapter 11 Bankruptcy
Businesses can also take advantage of bankruptcy court protection from creditors. Chapter 11 business debt reorganization allows the business to continue operations while gaining respite and restructuring debt repayments, as well as making room for infusion of new capital. Under most conditions, creditors may not pursue collections actions or judgments against the business or investors while the business is under the protection of the courts.
Homeowners may not need to file for bankruptcy in order to avoid losing their house to foreclosure. Petti Murphy & Associates also provides home loan workout services. We will negotiate with your bank or mortgage lender to try to find an option that will allow you to remain in your home under the protection of a government program.
Learn more at the Protect Your Home information page.
Call Our Offices In Geneva And Orland Park For Debt Relief
We have two office locations for your convenience. Our office hours are 8:30 a.m. to 5 p.m. weekdays. Weekend and evening appointments may also be made. Call our Geneva office at 630-232-9303 or Orland Park office at 708-403-5500 for a free telephone intake consultation. You may also contact us by email to inform us of your legal needs.
*We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.