Chapter 7 bankruptcy filings are about to change in October 2005. President Bush signed a new bankruptcy law that could disqualify thousands of people from filing Chapter 7. Under the current law, most individuals qualify for Chapter 7 if they do not have money left over at the end of the month after paying their regular monthly bills and who have little or no equity in significant assets. This
is about to change, and many of these individuals will be forced into a repayment plan with their creditors. Time is running out, so call Leeders & Associates, Ltd. today to file while you still can.

Here are a few things Chapter 7 could do for you:

• Stop harassing creditor phone calls
• Stop garnishments and wage assignments from being deducted from your paycheck
• Stop creditors from suing you
• Stop the freeze on your bank account
• Stop utility shut off and can re-establish service
• Stop the suspension of your driver's license for unpaid tickets or accident claims
• Discharge hundreds and thousands of dollars of debt
• Discharge certain tax liability
• Discharge all of the penalties and the doubling and tripling amounts of parking tickets
• Get a better payment plan and interest rate on certain car notes
• Get a better payment plan for your furniture, appliances, jewelry and electronics
• Remove judicial liens on your home
• Discharge your obligation for any cosigned debt
• Discharge certain over-payments of government debts, like unemployment and public aid

Under Chapter 7, most people are able to keep their home and cars. They can keep their pensions, 401(k)’s and they can keep their furniture. In fact, most people keep everything they own when they file bankruptcy, however, there are some exceptions to this. Each state has ‘exemptions’ which are state laws enacted to protect certain assets of a debtor when they file bankruptcy. These statutes are complicated, with many requirements and loopholes, so your bankruptcy attorney should be well versed and knowledgeable about the Illinois exemptions that can affect your case. The attorneys at Leeders & Associates, Ltd. have filed thousands of cases just like yours. We have the experience and knowledge to properly educate you about your bankruptcy case. Call today to speak with a bankruptcy lawyer at Leeders & Associates, Ltd. We will give you a free consultation and review all of the options you have available based on your individual case.

For a free consultation, call 312-427-7400 today to speak with an experienced Chicago bankruptcy attorney at Leeders & Associates, Ltd. for a free consultation.

Office Locations:
Loop: 20 E. Jackson Blvd., Ste. 850 Chicago, IL 60604
South Side: 10540 S. Western Ave., Ste. 402 Chicago, IL 60643
SW Suburbs: 3333 Warrenville Road Ste. 200 Lisle, IL 60532
Will County: 16 W. Van Buren, Ste. 303 Joliet, IL 60432
NW Suburbs: 2025 S. Arlington Heights Rd. Ste. 113 Arlington Heights, IL 60005
Northern Suburbs: 228 N. Genesee, Ste. 207 Waukegan IL 60085