Illinois Bankruptcy Attorney-Rolling Meadows

Repossession of Cars and Home Property

Northwest Suburban Bankruptcy is devoted to helping individuals who are struggling financially with debt take charge of their life and protect their personal property. Anyone who owns a car knows it is probably one of the most valuable assets you can have. A car allows you to go to work, look for a job, take your children to doctor’s appointments, pay bills, and enjoy daily life.

Equally important, if not more, is your home. Foreclosure and home repossession is a major concern for every homeowner behind on their mortgage payments. Whether you are behind on making car payments or mortgage payments, everything of value is at risk for repossession.

At Northwest Suburban Bankruptcy, we help people protect their assets and avoid repossession. To learn more about how we can help you, contact us or call our 24 hour answering service at 847-394-3200. Our Illinois bankruptcy attorney helps clients in Rolling Meadows and across the northwest Illinois areas. Schedule an appointment to meet with our bankruptcy attorney today.

Bankruptcy Options to Help Avoid Repossessions

One way to stop repossessions is to file for Chapter 7 bankruptcy. If you qualify for Chapter 7, creditors must stop harassing you and all other collection efforts must cease. This is referred to as an automatic stay, which is a legal injunction that protects debtors against creditors.

Another alternative to prevent repossession of your vehicle or home is to file for Chapter 13 bankruptcy. With Chapter 13, you submit a repayment plan to pay back all debt you owe. Repayment periods in a Chapter 13 bankruptcy case can last anywhere from 3 to 5 years.

Regardless of your situation, there are ways to protect yourself and your assets if repossession is a concern of yours. Let us help you figure out your best options.

Contact Our Rolling Meadows Repossessions Attorney

Contact Northwest Suburban Bankruptcy in Rolling Meadows, Illinois for help with repossession matters. Call 847-394-3200 to learn how we can help you protect your assets.