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Law Firm Helps Illinoisans Navigate Bankruptcy
Chicagoland law practice helps you optimize debt relief
Filing for bankruptcy is an important decision that has significant implications in your life. But when mounting debt begins to feel unmanageable, bankruptcy can provide relief.
W T Godbolt, Esq., LTD helps you decide whether filing for bankruptcy is the most effective way for you to take control of your debt.
Negotiator of debt relief options
Bankruptcy is not your only option. W T Godbolt, Esq., LTD can often work with your creditors to develop out-of-court solutions that avoid bankruptcy. Frequently, we can negotiate a smaller debt amount that is payable in more-manageable monthly installments.
Experts in debt analysis
We have been helping people with overwhelming debts for more than 15 years.
We analyze your case to determine if bankruptcy will advance your immediate and long-term financial goals. We review your debts, income, and expenses, and we explain the full effects of bankruptcy on your family, business, home ownership and access to credit.
If bankruptcy is the right choice, we provide you with detailed information about the bankruptcy process and give you a complete picture of the outcome that you should expect. This upfront approach to bankruptcy can give you confidence in your financial future.
Reprieve through automatic stay
Filing a bankruptcy petition triggers an automatic stay, which means that creditors must immediately stop collections actions, including letters and phone calls. We begin corresponding with your creditors the moment that you file for bankruptcy, and we act and communicate entirely on your behalf.
Your bankruptcy must be filed as one of the following:
Chapter 7 bankruptcy — For individuals and their spouses who own fewer assets and earn smaller incomes, Chapter 7 bankruptcy grants you relief from debts with the goal of retaining your assets.
Chapter 11 bankruptcy — For corporations, partnerships, and sole proprietorships, Chapter 11 bankruptcy permits your business to continue operating while you pay creditors under a reorganization plan.
Chapter 13 bankruptcy — For families facing foreclosure or for those whose incomes are higher, Chapter 13 bankruptcy permits you to pay off debts under a court-ordered installment plan extending three to five years. This option provides numerous advantages, including the possibility of keeping your home.
Contact an experienced bankruptcy law expert
To schedule a bankruptcy consultation, call W T Godbolt, Esq., LTD at 708.596.6984 or contact us online today.
Practice Areas
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Cooperative Housing
Homewood Office
18300 Dixie Highway
2nd Floor
Homewood, Illinois 60430
Phone: 708.596.6984
Fax: 708.596.6985
Chicago Office
155 North Michigan Avenue
Suite 629
Chicago, Illinois 60601
Office: 312.945-6526
Contact Us
Office Hours
Monday - Friday
9:00 a.m. - 4:00 p.m.
Evening and Saturday
by appointment only
