Pioletti & Pioletti

Our law firm has been serving clients in central Illinois since it was established in 1938. Now, as then, our mission is to serve our clients legal needs through integrity, experience and honesty.

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Call Us Today For a Free Consultation 309-467-3213

Bankruptcy Attorneys with Offices in Bloomington-Normal and Eureka

If you are struggling with unmanageable debt, bankruptcy could provide the debt relief you need. While bankruptcy is not right for everyone, it has helped millions of Americans find hope for a better future.

There are two basic types of Bankruptcy cases, chapter 7 and chapter 13. A chapter 7 is the classic bankruptcy that most people think of where your debts vanish and you are left with a clean slate. Not all people qualify for a chapter 7, it depends on your income level, assets, and liabilities. A chapter 13 is a debt repayment plan at the end of which all of your unsecured debts are discharged.

Chapter 7 - A Clean Slate with Debt Elimination

Filing for Chapter 7 bankruptcy will immediately stop most all collection actions by creditors including letters and phone calls. A Chapter 7 is the most common form of bankruptcy and is designed to get people out from under an overwhelming load of debt. It is the quickest form of bankruptcy and will completely eliminate most: credit cards, personal loans, repossessions, judgments, law suits, medical bills, utility bills, payday loans, and wage deductions or garnishments. As soon as you file, all of the collection letters and calls end immediately.

You will also get to keep a lot of your property due to Illinois' generous exemptions including:

$15,000 in Home Equity/$30,000 for a married couple
All retirement benefits such as IRAs and pension funds
$2,400 equity in one vehicle
$1,500 in all tools of your trade
Up to $4,000 in other personal property

Chapter 13 - Debt Repayment and Reorganization

For those people who do not qualify for a Chapter 7, a Chapter 13 bankruptcy will still eliminate most all of your unsecured debt and reduce your overall debt load significantly. All of your debts are combined into a bankruptcy repayment plan of either 3 or 5 years. If you are facing a mortgage foreclosure, repossessions, high interest credit cards, payday loans, or wage deductions, a Chapter 13 bankruptcy can help you.

Call Us Today For a Free Consultation 309-467-3213
Main Office

Main Office
107 E Eureka Ave
Eureka  IL  61530

Phone
  • (309) 467-3213

Fees

Free Initial Consultation?

Yes

Office Information

Languages Spoken

English, Spanish

Other Offices

  • Pioletti & Pioletti Attorneys at Law
    121 N. Main St.
    2nd Floor
    Bloomington,  IL  61701

Joe Pioletti

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