Bankruptcy Lawyer Elmwood Park IL

As a debt relief agency passed by Congress and signed by President Obama we help people file for bankruptcy under the Bankruptcy Code. Attorney George Sarolas has been helping people eliminate debt, stop harassing credit calls, and prevent home foreclosures by filing bankruptcy. If you need an experienced bankruptcy attorney for a Chapter 7 bankruptcy, we can help. The first question will be do you qualify for bankruptcy protection and if so, what type of bankruptcy do you qualify for. For most people, there are two types of bankruptcy, Chapter 7 and Chapter 13, they qualify for. Each chapter of the Bankruptcy Code is considerably different and each chapter will have a different result for your case. We will gladly meet with you to explore which chapter under the Bankruptcy Code you qualify for and give you our best advice to help you eliminate your debt. To learn more read the FAQ below.

Over Two Decades of Trusted Service and Proven Results
People going through a bankruptcy are facing a difficult road. At our office, we understand that many of the people we serve are experiencing a very difficult time in their life. One of the benefits of hiring a small firm attorney is that you receive individual attention from one attorney who will earn your trust and has dedicated himself to your case. At our office, your case will not be shuffled from one attorney to the next. Your case will be handled from beginning to end by attorney George Sarolas. Mr. Sarolas has over 23 years experience in Bankruptcy Law cases.

Caring Service for People Going Through Tough Times
At our office, you will not find judgment, you will only find help. Our goal is to provide you with a second chance at life and a new financial future. The reduction or elimination of your debts should be seen as a new financial beginning, not a dead-end.
Filing bankruptcy is not right for everyone. For some people, however, it can be a significant source of financial and emotional relief. If you decide to file bankruptcy, we will immediately set to work with the following goals:
• Elimination of your debts
• Protection from home foreclosure
• Protection from ca repossessions
• Judgment protection
• Stop Harassing Credit Calls
• Stop Wage Garnishments

The New Bankruptcy Laws
Many people assume that they are no longer eligible for bankruptcy because they have heard that new bankruptcy laws are more rigid. This is not true. Although the new bankruptcy laws are stricter than they were in the past, the majority of people who attend a free consultation at our office are happy to learn that they are eligible to file bankruptcy.

Schedule a Free Consultation
We offer a free consultation so you can have the opportunity to meet Mr. Sarolas and our staff. To schedule a consultation, call us at (708) 456-5700. To learn more about our Bankruptcy services, give us a call, or send us an email at gisarolas@sbcglobal.net.

Frequently Asked Questions FAQ

How does chapter 7 bankruptcy work?

Bankruptcy is a federal legal proceeding whereby you disclose to the court your debts, assets and other information on the bankruptcy petition. A bankruptcy trustee is appointed to administer your case. Assuming that you qualify to file for chapter 7 bankruptcy, the bankruptcy court will issue an order discharging your debts, which means that you do not have to pay back your debts.

What is a chapter 7 discharge?

A chapter 7 discharge is a federal legal proceeding in which an individual or legal entity seeks to have their debts “discharged” under the Bankruptcy Code. Discharge of debts means that you do not have to legally pay back your dischargeable debts. Some debts that are not dischargeable will be discussed below.

How does chapter 7 differ from chapter 13 bankruptcy.

In a chapter 7, you do not pay back dischargeable debts. In a chapter 13, you enter into a repayment plan through the bankruptcy court in which you agree to pay back your debts over a period of time, usually between 3 to 5 years.

Is it better to file for chapter 7 or chapter 13?

This will depend on several factors, such as the type of debts you have, the value of property you have and the amount of money your household earns. Each case needs to be analyzed and examined individually to determine which chapter of the bankruptcy code is best for you. As your attorney, I will conduct a detailed analysis of your situation and advise you accordingly. After presenting you with all the options, you will then be able to make an informed decision that best suits your needs.

I am being harassed by my creditors. Will bankruptcy stop the harassment?

Yes. The moment your case is filed, an injunction is issued by the Bankruptcy Court called the automatic stay. This automatic stay prevents all of your creditors from contacting you by phone, mail or any other means of communication. There are ways to stop your creditors from harassing you even without filing for bankruptcy. We will gladly explore these options with you.

My wages are being garnished or about to be garnished. Will bankruptcy stop the garnishment of my wages?

Yes. Once your case is filed and the automatic stay becomes effective, all legal proceedings to garnish your wages or attempt to garnish your wages must stop.

I am being sued by my creditors. Will bankruptcy stop the lawsuit from going forward?

Yes. All legal proceedings, including court proceedings, stop the instant your bankruptcy case is filed.

Do you offer a free consultation?

Yes, the consultation is free.

Is the consultation confidential?

Absolutely yes. All clients, without exception, remain confidential with my office. Even if you do not retain my services, anything that we discuss will be kept in the strictest of confidence.

How often can I file for chapter 7 bankruptcy?

Under the current Bankruptcy Law, you can file once every 8 years.

I heard that I have to take classes in order to file for bankruptcy, is this true?

Yes, this is true. There are two classes that you must take. Once class is a class in “credit counseling”. You must take this class before filing your bankruptcy case. The second class is called a course in “personal financial management”. The second class must be completed within 45 days of the 341 meeting of creditors. As your attorney, I will instruct you when to take the classes so that no deadlines are missed. The classes can be taken in one of three ways. You can take the classes online, over the phone or in a classroom setting. Most people opt to take the classes online because of the convenience the internet provides. I will provide you with a list of agencies that have been approved by the Bankruptcy Court when it is time to take the classes.

I am married. Does my spouse need to file bankruptcy with me?

This will depend on a number of factors. Your spouse does not have to file bankruptcy with you if they don’t want. However, if most of the debt is joint between the husband and wife, then it may be advantageous to file together to save money on court costs and attorney fees. Each case is different and unique and we will gladly meet with you to determine if you should file for bankruptcy by yourself or with your spouse.

When is the best time to file for chapter 7 bankruptcy?

The only way to answer this question is to conduct a detailed analysis of your present financial situation. As part of the free consultation, estate planning will be performed so as to minimize the risk of losing any of your property in a chapter 7 bankruptcy.

Will I be allowed to keep my property and still file for chapter 7 bankruptcy?

Usually yes, most people will be allowed to keep all of their exempt property. If there is a risk of losing any of your property by filing a chapter 7 bankruptcy, then careful consideration must be taken to file for chapter 13 bankruptcy or utilize other alternatives than bankruptcy. Before filing any chapter 7 case, I will explain to you the list of exemptions of the property that you are allowed to keep, and which if any, you would lose by filing chapter 7. Most people that quality for chapter 7 will not lose any property. This is true for 99% of my cases.

Will filing for bankruptcy affect my credit rating?

Usually, filing for bankruptcy will negatively affect your credit rating. However, most people that come to my office with financial problems already have a diminished credit rating. Many already have ruined credit before they even walked in my office. Many people already have no ability in which to obtain credit even without a bankruptcy. There are a number of things you can do in order to improve your credit rating after filing for bankruptcy. When you case is finished, I will sit down with you and explain all the things that you can do to improve your chances of improving your credit rating.

What type of debts are dischargeable or wiped-out in chapter 7 bankruptcy?

As a general rule, most debts are dischargeable in bankruptcy, such as credit cards, medical bills, personal loans and unsecured debts.

What debts cannot be discharged?

Some debts that are not dischargeable are child support, alimony or maintenance, most student loans, most tax debts and debts that were incurred to pay non-dischargeable federal tax debts, court fines and criminal restitution, personal injury or death cause by driving under the influence of drugs or alcohol, debts for obtaining money, property, services, or credit by means of false pretenses or fraud. There are other debts as well that are not dischargeable. I will explain which debts you can wipe-out and which cannot be wiped-out in bankruptcy. This is part of the service I provide at our initial consultation.

I want to file bankruptcy on some of my debts but not all, is this possible?

The answer is you can pick and chose which debts you want to wipe-out and which you want to keep. Regardless, you still must list all your debts. If you chose to keep certain debts, you will need to fill out a document called a reaffirmation agreement. A reaffirmation agreement signed by you means that you want to continue to be legally responsible for this debt even though you filed for bankruptcy. If you want to continue to be legally responsible for some of your debts, I will advise you on whether it is a good idea or not.

Do I have to go to court or to a legal proceeding?

Yes, you must attend the “341 meeting of creditors”. The 341 meeting of creditors is the “court proceeding” that must be attended by all people who wish to have their debts discharged. The 341 meeting of creditors is not how it is portrayed on television or in the movies. Neither a judge nor a jury is present. Usually, the only people who attend the 341 meeting of creditors will be the bankruptcy trustee, you, and your attorney. I will inform you when your 341 meeting of creditors will take place and I will prepare you for this proceeding. It is never wise to attend court without being adequately prepared. Moreover, most people get nervous going to court. You should not be nervous, especially if you were prepared for what to expect. The 341 meeting of creditors is usually in a non-formal setting.

Will my case be handled by a paralegal or legal secretary?

No. Your case will never be handled by a paralegal or legal secretary. Your case will be handled by me personally. Your case is too important to be handled by an individual that lacks the education, knowledge or experience to handle a bankruptcy case. Bankruptcy laws are complex and sophisticated, and should not be handled by anyone other than a licensed attorney. From the moment of our initial consultation to the conclusion of your case, you will always deal with me personally. It is my opinion that if you are paying for legal services, the lawyer you paid should handle your case.

How long have you been practicing law?

I am a licensed Illinois attorney in the private practice of law since May 7, 1992.

What documents do I need for the consultation?

You should have all or most of your bills and your credit report. If you do not have your credit report, I will gladly provide you with the federal mandated website where you can obtain a free credit report. You should also bring with you your paystubs (and your spouses if married) for the last 6 months. Finally, you should bring your federal tax returns for the last 3 years. If you do not have all of the above-listed documents before our first meeting, that is ok. However, a more meaningful consultation will take place if you have these documents.

What are the costs involved?

There is the fee that the court charges in order to file your case. This is the court costs. Legal fees will depend on how easy or complex you case is. Obviously, the easier your case the less you will pay. Conversely, the more complex your case the more you will have to pay. My fees are reasonable and typically a flat fee is charge. All fees will be disclosed to you in writing. In addition to disclosing my fees to you, I am also obligated to disclose my fees to the bankruptcy court. I will gladly provide you with a free consultation after examining your case and I will give you my honest assessment on what the costs will be.

Schedule a Free Consultation Today
We offer a free consultation so you can have the opportunity to meet Mr. Sarolas. To schedule a consultation, call us at (708) 456-5700. To learn more about our Bankruptcy services, give us a call, or send us an email at gisarolas@sbcglobal.net.

The Law Office of George Sarolas 7234 W North Ave., Suite 210 Elmwood Park, IL 60707
(708) 456-5700

We are a debt relief agency and we help people file for bankruptcy under the Bankruptcy Code.
We represent clients throughout the state of Illinois, including Elmwood Park, Chicago, Oak Park, River Forest, Franklin Park, River Grove, Berwyn, Forest Park, Cook County, DuPage County, and Lake County.