Recognized for Excellence in Bankruptcy – Your Financial Life-Saver TM
Is Bankruptcy Right for You?
Bankruptcy is your right under the Constitution and the Bankruptcy Code. In America, an honest debtor is entitled to a fresh start. In bankruptcy you can settle your debts through a chapter 13 bankruptcy payment plan. In chapter 7 bankruptcy, you can get a complete discharge of debt without payments. In either case, an appointed trustee supervises the process. In chapter 13, the trustee collects monthly payments for distributes to your creditors. In chapter 7, the trustee determines if you have property that can be sold for payment to creditors. If, as usual, your assets are exempt, the trustee files a “no-asset report.” Your case is closed, you get your discharge from all debts and your creditors get nothing.
Lakelaw represents people and small business in bankruptcy in Illinois and Wisconsin. We do so with “Care, Kindness, Courtesy, Respect, Professionalism and Dedication.” At Lakelaw, you are a unique person. So we treat you like a human being, not a cold legal file number.
En Lakelaw, hablamos español. Podemos hablar con usted en su idioma.
Lakelaw’s founder, David Leibowitz is Board Certified as a Consumer Bankruptcy Attorney. He was Chair of the Consumer Bankruptcy Committee of the American Bankruptcy Institute for two years. He’s contributing author to the Bloomberg Bankruptcy Treatise. David Leibowitz is a one of America’s leading consumer bankruptcy attorneys. David Leibowitz is the bankruptcy lawyer in Chicago to whom big firms refer their consumer bankruptcy cases. Everyone at Lakelaw is dedicated to you, our clients.
Lakelaw’s highly skilled bankruptcy lawyers, guide you to financial freedom. Get rid of your debts. Stop nasty creditors from calling day and night. Keep most or all of your property. Get on the path to a secure future. We sue creditors who violate your rights. We’re here for you today and the long run. You can call us years after your case is over if you have any questions. Lakelaw will always be here to serve you.
Our fees are fair and competitive. We always set our fees to consider your own situation.
Types of Personal Bankruptcy Cases
You can file a personal bankruptcy case under Chapter 7, Chapter 11 or Chapter 13 of the Bankruptcy Code. Family farmers can even file a case under chapter 12.
About Chapter 7
Chapter 7 allows you to get rid of almost all of your debts in as little as 4-6 months. You get to keep all of your exempt property. You can file a chapter 7 bankruptcy case if you make less than the “median income” for people having a family the same size as yours. For a single person, that’s about $40,000. For a family of 4, that’s about $75,000. This number keeps changing, so ask us about it. You can also file a chapter 7 even if you make more than the median income if you pass the “means test”. We have to compare your income for the past six months using a formula considering how much you spend on things like your mortgage, car payments, taxes and insurance and also how much you are “allowed” to spend on things like food, medical care and other similar items.
About Chapter 13
Chapter 13 lets people with higher income file for bankruptcy and get rid of debt. Unlike chapter 7, you make monthly payments to a trustee under a plan in Chapter 13. The plan period is at least 3 years and as long as 5 years. You can keep your property in chapter 13, even if you’d lose it in chapter 7. You can also get rid of property settlement debts from a divorce that you can’t discharge in chapter 7. In chapter 13 you can catch up on back payments due under mortgage or on car loan. One of the best things about chapter 13 is you can get rid of a second mortgage on your house if the first mortgage is for more than the house is worth. This is “lien stripping”. There are debt limits for chapter 13. If you have more than about $380,000 in unsecured debt or about $1,150,000 in secured debt, you can’t file a chapter 13.
About Chapter 11
Chapter 11 is usually for reorganizing businesses, large and small. But Chapter 11 is also used to help people. If you have debt greater than the debt limits allowed for chapter 13, we can help you under Chapter 11. Most consumer bankruptcy firms have no experience in Chapter 11. We do. David Leibowitz, is the co-chair of the American Bankruptcy Institute’s Task Force on Individual Chapter 11 cases. These cases are hard but we at Lakelaw are up to the task.
Lakelaw Helps You File For Bankruptcy
It’d possible to file bankruptcy without a lawyer. But you could make costly mistakes. You could forget to list a creditor. Or forget to list a pending lawsuit. Or neglect to claim an exemption you are entitled to. Our Chicago bankruptcy attorneys and Wisconsin bankruptcy lawyers will protect you from making these mistakes. Our fees are fair. You’ll pay us much less than you’d pay your creditors. We may even be able to sue your creditors and make money for you. If you have money trouble, you need to know your options. Stop the phone calls in the middle of the night and at your work. Get help right now. Be treated with dignity. You deserve no less. Our Waukegan bankruptcy lawyers can stop the debt collectors. We can help you get the relief you need and deserve. We claim exemptions so you can keep your property. In chapter 13 cases, we can often help you to keep your house. If you’re the victim of a predatory loan or improper debt collection, we fight back for you.
Your Life After Bankruptcy
At Lakelaw, we are at your service for the long run. Our Milwaukee bankruptcy attorneys give you a jump-start toward your financial future. Our “Lakelaw Cares” program stays at your side long after your bankruptcy. Call on us to:
- Correct errors on your credit report after bankruptcy
- Sue creditors who try to collect from you after bankruptcy
- Help get new credit after bankruptcy
- Help with your budget and finances
- Fight back against zombie debt.
- Four Steps to Financial Freedom
Get started with your bankruptcy today even before your first appointment! To help you get started with your bankruptcy case righ...Learn More
- Chicago Chapter 7 Lawyers
Do you want experienced and capable bankruptcy attorneys? Our Lakelaw bankruptcy team has handled well over 20,000 chapter 7 ba...Learn More
- Chicago Chapter 13 Law Firm
Chapter 13 If you make more than the median income and don’t otherwise pass the Means Test, chapter 13 might be for you. Chapte...Learn More
- Chicago Chapter 11 Attorneys
Chapter 11 bankruptcy reorganization is for people and not just businesses. If you have more than $1.08 million in secured debt or...Learn More
- Chicago Debt Consolidation Lawyers
Chapter 11 Trusteeships Most people want to pay their debts. And for most people, debt settlement or debt consolidation sounds li...Learn More
- Fight Back Against Creditors and Collection Agencies
People facing bankruptcy know that creditors and collection agencies don't always play fair. Lakelaw's consumer advocate lawyers ...Learn More
- Asset Protection Lawyer in Chicago, Illinois & Wisconsin
Protecting Your Assets Frequently Asked Questions about Asset Protection in Bankruptcy Can I give things away to my family or ...Learn More
- Bankruptcy Litigation Lawyer in Chicago, Illinois & Wisconsin
Bankruptcy Litigation Bankruptcy can be more than just filing papers. Sometimes, you get sued in the bankruptcy court. And somet...Learn More
- Milwaukee Bankruptcy Lawyers
Bankruptcy and Divorce Divorce and bankruptcy are frequent companions. Everyone knows people whose marriage has fallen apart bec...Learn More
- Milwaukee Bankruptcy Attorneys for Small Businesses
Small Business in Bankruptcy You can call on Lakelaw to file a small business bankruptcy. Your small business can be a sole prop...Learn More
- Using Chapter 13 Bankruptcy to Save your Home
Chapter 13 can save your home. You’ll have to do your part, of course. Although Congress refused to pass legislation allowin...Learn More
- Involuntary Bankruptcy
Debtors usually file bankruptcy voluntarily. Sometimes, creditors want to force a debtor into an involuntary bankruptcy case. Thr...Learn More
- Planning for Bankruptcy
Filing for bankruptcy is usually a response to a financial crisis. When you are responding to a financial emergency, it may be im...Learn More
- Bankruptcy Resources in Illinois, Wisconsin
Are you looking for bankruptcy information? Lakelaw's website offers you almost everything you'd like to know about bankruptcy. ...Learn More
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.