Bankruptcy Attorney
Bankruptcy Lawyer Attorney Profiles Common Questions Bankruptcy Evaluation Office Locations

No Money Down on Chapter 13 Cases
For Qualified Wage Earners!
Chapter 7 Bankruptcy from $850

Phone and Video Consultations
Available Today!

Information Center
Asset Protection
Bankruptcy Overview
Business Bankruptcy
Chapter 13
Chapter 11
Chapter 7
Creditor Harassment & Abuse
Debt Relief Options
Eliminating 2nd Mortgages
Fighting Foreclosure
Means Test
Rebuild Credit
Taxes & Bankruptcy
Bankruptcy Alternatives
Bankruptcy Exemptions
Bankruptcy Myths
Bankruptcy Process
Bankruptcy Time Line
Benefits of Bankruptcy
Chapter 7 vs. Chapter 13
Filing for Bankruptcy
Is Bankruptcy Right for Me?
Life After Bankruptcy
Why Hire a Bankruptcy Attorney
Will I Lose Anything?
Read our blog

What is Chapter 7 Bankruptcy?

Chapter 7 bankruptcy is also known as liquidation bankruptcy.  Unlike Chapter 13 bankruptcy, people who choose to file for Chapter 7 do not have to repay the debt they owe to their creditors.  Instead, their debt is discharged once they have successfully completed the bankruptcy process.  However, consumers who opt for this type of bankruptcy may have their assets liquidated.  This means that items of value like homes and cars will be sold for cash which is then turned over to creditors as a form of repayment. 

If you are thinking about filing for Chapter 7, know that you are not alone.  With so many individuals and families facing economic hardships such as job loss and high unemployment rates, more and more Americans are choosing to pursue this type of bankruptcy.

One of the wisest things you can do before you decide to file for Chapter 7 is to discuss your finances with a Chicago bankruptcy lawyer, like the lawyers at Bizar and Doyle.  To learn how our law office can help you file for Chapter 7 in Illinois, contact us now to set up a consultation.

Free Bankruptcy Evaluation
Eliminate Debt & Bills
123 W. Madison Street, Suite 205; Chicago, IL 60602
Attorney Web Design
The information on this website is for general information purposes only. Nothing on should be taken as legal advice for any individual case or situation.

Main Office: 123 W. Madison Street, Suite 205 Chicago, IL 60602
Phone Number: (312) 427-3100