Wator & Associates, P.C. is an Illinois bankruptcy law firm dedicated to helping individuals and families eliminate or restructure debt through Chapter 7 and Chapter 13 bankruptcy in the Northern District of Illinois. If credit cards, medical bills, wage garnishments, or foreclosure threats are overwhelming you, experienced legal guidance can make the difference. We provide […]
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Facing overwhelming debt? Don’t despair, get help now! Our experienced bankruptcy attorneys specialize in representing debtors. We offer personalized solutions tailored to your financial situation. From Chapter 7 to Chapter 13, we’ll guide you through the process step-by-step. Say goodbye to creditor harassment and start fresh today. Contact us for a free consultation!
In a Chapter 7 bankruptcy, if you schedule your car loan but do not reaffirm it, your personal liability for the debt is discharged under 11 U.S.C. § 524, meaning the creditor cannot sue you personally for any deficiency or unpaid amounts post-discharge. However, the creditor’s security interest (lien) on the vehicle survives the discharge, […]
In re Pinson (23 B 4039) Debtor sought damages for violation of the automatic stay on the grounds that, after the stay terminated under 11 U.S.C. § 362(c)(3)(A) and after U.S. Bank (“Bank”) obtained relief from the stay to pursue eviction, the Bank had exercised control over property of the estate. HELD: In arguing that […]
At Wator & Associates, P.C. we protect creditor’s rights in the Northern District of Illinois Bankruptcy Court. Our experienced attorneys specialize in navigating complex bankruptcy cases, ensuring creditors receive the maximum possible recovery. Whether you need to file a proof of claim, challenge a debtor’s discharge, or litigate preference actions, we deliver strategic, results-driven representation.Don’t […]
As a creditor’s attorney, filing an objection to a debtor’s proposed Chapter 13 bankruptcy plan before confirmation is a crucial step to protecting the creditor’s rights and ensuring compliance with the Bankruptcy Code. The primary objectives of filing such an objection include: 1. Ensuring Compliance with the Bankruptcy CodeOne of the main reasons for objecting […]
If you drowning in debt, Bankruptcy may be the fresh start that you are looking for. Through Bankruptcy, you may discharge most of your unsecured debt. Our dedicated attorneys can help you ensure your rights are protected through this process. The importance of retaining an experienced attorney cannot be overstated, as often one small mistake […]
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Bankruptcy Basics – How does the 2005 Bankruptcy Act treat self-employment income for purposes of determining if a debtor qualifies for a Chapter 7 bankruptcy?
The Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) of 2005 introduced significant changes to bankruptcy laws, including the treatment of self-employment income for Chapter 7 bankruptcy eligibility. Under the 2005 Act, debtors must pass a means test to qualify for Chapter 7 bankruptcy. This means test evaluates the debtor’s income and expenses to determine […]
Bankruptcy law was designed to help people get a fresh start. Although frowned up, it actually stirs innovation as people can take more risk and innovate, knowing that if things don’t work out, Bankruptcy options are available. Bankruptcy laws were designed with the average hardworking American in mind. Call 773-407-2100 for a free consultation with […]
If mounting debt is causing stress and uncertainty, you’re not alone—and there’s a way out. Our Illinois law firm specializes in Chapter 7 and Chapter 13 bankruptcy, providing personalized, effective solutions for individuals and families in financial hardship. Why Choose Our Illinois Bankruptcy Attorneys?– **Expert Guidance**: Our attorneys have extensive experience in Chapter 7 (debt […]