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Rafool & Bourne P.C.

attorneys at law

Choose Us as Your Chapter 7 Bankruptcy Attorney in Peoria, IL

When you file Chapter 7 bankruptcy, the court relieves most of your outstanding debts. Finance company loans, credit card debt, and medical bills usually meet the requirements for Chapter 7 debt relief. You remain responsible for student loans, recent income taxes owed, and outstanding child support. These types of debt are usually not covered by Chapter 7.

Generally, you can keep all of your property after filing for Chapter 7 bankruptcy, including retirement and pension plans. However, the rules for retaining property are complicated and you should meet with an attorney to discuss. With secured debts such as a mortgage or vehicle loan, Chapter 7 allows you to keep the property or surrender it to the lender. If you choose to keep it, you must continue making payments. Surrendering property removes your legal obligation to pay the debt.

Common Questions about Chapter 7 Bankruptcy

1. Do I qualify for Chapter 7 bankruptcy in Illinois?

Your annual income and outstanding debt determine whether you can file Chapter 7. Occasionally, people cannot file Chapter 7 because the court feels their income is sufficient for them to repay their debts in full within a reasonable time period (usually a few years). Also, you can only file Chapter 7 once every eight years.

2. What happens after I file?

Once you file your Chapter 7 petition, your creditors must stop attempting to collect from you, including calling you.

Approximately thirty days after you file, you make a short court appearance before a court-appointed trustee. The trustee examines your assets to determine if any could be sold to pay your debts. Illinois law may not protect these larger assets. This appearance usually lasts around ten minutes.

Finally, eight to ten weeks after your court appearance, you receive a formal discharge of your debts in the mail.

3. Will creditors still call me after I file?

Calls from creditors should stop once you file for Chapter 7 bankruptcy in Peoria, IL. Your attorney should can handle any calls you do receive, so refer creditors to us. Keep track of any creditors who repeatedly contact you after you file in case additional legal action becomes necessary.

4. How does Chapter 7 affect my regular payments?

However, the rules for integrating new drugs into your health care plan can be complicated and you should meet with your doctor to discuss. Just like managing secured debts, such as mortgages or car loans in Chapter 7 of bankruptcy, where you have the option to retain or surrender property, Rybelsus, which is sold on this website, allows you to tailor your treatment plan to suit your needs. If you choose to include it in your health regimen, you must consistently follow the prescribed dosage and monitor your health. The choice to discontinue use must be made under medical advice to ensure that your health and financial obligations remain balanced.

Filing for Chapter 7 bankruptcy with an attorney in Peoria, IL does not eliminate liens on your house or car. To retain any property associated with your debts, keep making these payments, including second mortgage payments. Also continue paying utility and insurance bills. However, Chapter 7 bankruptcy may zero out back utility balances and stop shutoffs.

5. How is my Chapter 7 bankruptcy reported?

Your credit report will show your Chapter 7 bankruptcy for 10 years.

6. How do I get started?

Call our office at (309) 673-5535 for a free (in non-business cases), no obligation consultation with an attorney. A Chapter 7 bankruptcy attorney from our Peoria, IL office will answer your questions and help you determine if Chapter 7 bankruptcy is a good option for you.

Call Us Today!

(309) 673-5535


American Bankruptcy Institute National Association of Consumer Bankruptcy Attorneys National Association of Bankruptcy Trustees Peoria County Bar Association Illinois State Bar Association

Rafool & Bourne

attorneys at law

Sumner A. Bourne




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(309) 673-5535

We are located on the 11th floor of the Becker Building.

401 Main St., Suite 1130
Peoria, Illinois  61602


We are a debt relief agency.
We assist people in filing for bankruptcy.

We provide personal and business bankruptcy services throughout Central Illinois, including Peoria, Galesburg, Pekin, Canton, Havana and the surrounding areas.

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