Practice Areas

Illinois Bankruptcy and Debt Relief Attorneys

At Springer Brown, our attorneys are practiced in numerous areas of bankruptcy law.

 

Whether your consumer or business bankruptcy is straightforward or complex, the attorneys at Springer Brown have the experience and legal knowledge to protect your interests. We work with individuals from all walks of life and businesses of all sizes. Call us today to schedule a free initial consultation and discuss your financial circumstances. We will evaluate your situation and advise you on how to best regain your financial security.

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Our services include:

Business Bankruptcy

 

Chapter 7 bankruptcy

A company’s assets are liquidated and the funds are used to repay creditors. The company goes out of business.

 

Chapter 11 bankruptcy

A business is protected from creditors while it reorganizes and determines how to repay debt. The business can remain open while restructuring.

 

 

Business Bankruptcy Alternatives

 
These are ways in which businesses can handle debt without filing for bankruptcy:

 

Assignment for Benefit of Creditors 

A business is liquidated under state law as opposed to federal law, which governs bankruptcy proceedings.

 

Workouts 

An agreement made with creditors outside of court to repay debt.

 

Bankruptcy Litigation

Lawsuits filed in bankruptcy court by debtors, creditors and trustees are called Adversary Proceedings (APs). There are a variety of circumstances that can trigger bankruptcy litigation.

 

Consumer Bankruptcy

 

Chapter 7 bankruptcy

“Straight bankruptcy” in which a debtor can obtain a discharge of all unsecured debts.

 

Chapter 13 bankruptcy “Reorganization” of debt in which a 3 to 5 year payment plan is set up for debtors to settle their debts without losing their property.

 

Find out more about automatic stay and FAQs for consumer bankruptcy 

 

 

 

We are a debt relief Agency. We help people file for relief under the bankruptcy code