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630-932-9100
Free Initial Consultation 630-932-9100
Mevorah Law Offices LLC
630-932-9100
DuPage County Attorneys

LOMBARD

900 E. Roosevelt Road, Lombard, IL 60148

Phone: 630-932-9100

BLOOMINGDALE

134 N. Bloomingdale Road, Bloomingdale, IL 60108

Phone: 630-529-4761

ST. CHARLES

333 N. Randall Road, Suite 104, St. Charles, IL 60175

Phone: 630-443-0600

JOLIET

58 N. Chicago Street, Suite 500, Joliet, IL 60432

Phone: 815-727-4500

CHICAGO

105 W. Madison Street, Suite 2200, Chicago, IL 60602

Phone: 630-932-9100

DuPage County Bankruptcy Alternatives Lawyers

Should You File Bankruptcy or Opt for a Non-Bankruptcy Solution?

In order for you to make a truly informed decision about whether to file for bankruptcy protection or opt for non-bankruptcy solutions, you need to understand the advantages and limitations of your each option fully.

While your specific situation will dictate many of the benefits and limitations of bankruptcy compared to non-bankruptcy alternatives (in some cases, you may not have any options), the bankruptcy attorneys at Mevorah Law Offices LLC want to investigate and explain your options to you.

To discuss your situation with an experienced small business bankruptcy lawyer, call 630-932-9100630-932-9100 for a free, confidential consultation.

Advantages and Disadvantages of Bankruptcy and Non-Bankruptcy Solutions

Some general information about possible advantages and disadvantages of bankruptcy versus non-bankruptcy solutions include the following factors:

  • Tax consequences: Our bankruptcy lawyers understand that often times settling a debt for considerably less than what you owe outside of bankruptcy can have adverse tax consequences. In many situations, you will receive a 1099 form stating the difference in what you paid and what you paid was income to you, and you will be taxed accordingly. You need to be aware of the true cost of a non-bankruptcy solution in order to ensure you are making an informed decision.
  • Affect on credit history: In some cases, your credit history will be more adversely affected by filing bankruptcy, rather than opting for a non-bankruptcy solution. In other situations, the opposite is true, and your credit history may be better off by filing for bankruptcy protection. In either event, both options are likely to be much better than doing nothing at all.
  • Your assets and Illinois bankruptcy exemptions: Depending on your assets, you may be better off filing for bankruptcy or avoiding bankruptcy. Illinois permits the exemption of certain assets from being taken for the benefit of creditors in a bankruptcy. Our bankruptcy attorneys will explain the exemption laws to you and closely examine your assets, your income and your debts to help you decide on the best course of action for your particular situation.

Contact an Experienced DuPage County Bankruptcy Attorney

To discover your personal and business options for debt relief, including non-bankruptcy solutions, please schedule a free confidential consultation by calling us at 630-932-9100630-932-9100. Or, if you prefer, fill out our online form and we can contact you to schedule a consultation.

Pursuant to 11 U.S.C. §528, Mevorah Law Offices LLC is considered a debt relief agency. We will proudly help you file for bankruptcy relief under the Bankruptcy Code if we believe it is in your best interest.

  • DuPage County Bankruptcy Lawyers
  • Elite Lawyers
  • National Association of Distinguished Counsel
  • Top 40 Under 40
  • 2015 Top 40 Lawyers Under 40
  • Super Lawyers

Let us start helping you with a FREE initial consultation.

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One Stop For All Your Legal Needs

Whether you are going through a divorce, injured in an accident, need to file a workers' compensation claim, charged with a crime, immigrating to the United States, or need to file for bankruptcy, Mevorah Law Offices LLC can help. Our trial lawyers have over 35 years of experience helping clients throughout Northern Illinois from five offices in Lombard, Bloomindale, Joliet, St. Charles, and Chicago.

Steven Mevorah has assembled experienced attorneys under one roof so that his clients need not search for a new attorney each time they need help. Mr. Mevorah has also established a wide network of additional attorneys so that his clients merely need to stop by Mevorah Law Offices LLC to find the attorney they need.

Client Focused Representation

Our practice is focused on meeting your needs with flexible hours and locations to serve you:

  • Free initial consultations
  • Saturday and evening appointments available
  • Home and hospital visits if your injuries prevent you from traveling
  • Multiple locations throughout Chicagoland
  • Veteran trial attorneys
  • Experienced negotiators
  • Payment plans available
  • Cash, check, or credit card accepted