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Bad Things Can Happen to Good People. Talk to Us About Bankruptcy


The U.S. Bankruptcy Code lays out the process that people must follow in order to maintain a bankruptcy proceed8ing. Although there are several different types of bankruptcies, consumers are primarily involved with Chapter 7 and Chapter 13 filings.

Chapter 7 Bankruptcy

This is the most common type of bankruptcy that is filed in the United States. The process operates to discharge debts by liquidating them and distributing the proceeds to creditors. The debtor must pass a means test though. If he or she has the means with which to pay a significant portion of their debts, a Chapter 13 filing must be made.

Chapter 13 Bankruptcy

According to our bankruptcy lawyers in Rockford, IL, this type of bankruptcy involves a reorganization of a person’s debt. A plan must be drawn up for this purpose and approved by the court. That plan remains in place for three to five years. Chapter 13 bankruptcies are often filed by people who own homes and are trying to avoid foreclosure.

When Bad Things Happen to Good People

Here at Hampilos & Associates, Ltd., we’re fully aware of the fact that debt can suddenly spiral out of control. Bad things can happen to good people, and our bankruptcy lawyers in Rockford, IL, help people just like you every day.

If you live in or around Winnebago County, and you would like to learn more about our law firm, you can call us at 815-962-0044 to arrange for a free consultation and bankruptcy filing evaluation with one of our bankruptcy lawyers in Rockford, IL. We’ll be pleased to answer your questions and advise you how the U.S. Bankruptcy Code might be used to satisfy your best interests.

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