|Individuals look to lawyers at Hannigan for guidance in filing for Bankruptcy. We strive to protect our client’s interests in the liquidation of assets to pay their debtors and selecting the options that best meets the needs of the individuals involved. |
Bankruptcy laws help people who can no longer pay their creditors get a fresh start – by liquidating assets to pay their debts or by creating a repayment plan. Bankruptcy filings in the United States can fall under one of several chapters of the Bankruptcy Code, such as Chapter 7 (which involves liquidation of assets), Chapter 11 (company or individual "reorganizations") and Chapter 13 (debt repayment with lowered debt covenants or payment plans).
Bankruptcy is a legal status of an insolvent person that is, one that cannot repay the debts owed to creditors. Bankruptcy is imposed by a court order, often initiated by the debtor. Federal courts have exclusive jurisdiction over bankruptcy cases. This means that a bankruptcy case cannot be filed in a state court.
We provide referrals for attorneys who specialize in Business Bankruptcy.
Carol K. Hannigan
Attorney at Law
1880 W. Winchester Rd
Libertyville, IL 60048