Illinois Bankruptcy Resources
The following links and resources are provided for the benefit of consumers and business owners in northern Illinois who may be contemplating bankruptcy and are seeking more information on how bankruptcy works and topics related to Chapter 7, Chapter 11 and Chapter 13 bankruptcies. Before you file, make sure to speak with experienced bankruptcy attorneys who can advise you on the proper steps to take. In Carol Stream, Chicago and St. Charles, contact Johnson, Westra, Broecker, Whittaker & Newitt, P.C.
The United States Bankruptcy Court for the Northern District of Illinois covers 18 counties in northern Illinois, including Cook, DuPage and Lake counties. The court’s website includes frequently asked questions (FAQs) for debtors on important topics such as credit counseling and the Section 341 Meeting of Creditors.
The United States Trustee Program is a component of the U.S. Department of Justice that supervises the administration of bankruptcy cases. The U.S. Trustee for Region 11 is located in Chicago and serves the Northern District of Illinois and Wisconsin.
The Illinois State Bar Association publishes consumer legal guides – helpful pamphlets to guide you through a variety of legal situations. Bankruptcy for Individuals contains a brief look at answers to questions regarding Chapter 7 and Chapter 13, such as how bankruptcy can affect your credit and how filing for bankruptcy can affect your home mortgage.
The main website for the U.S. Bankruptcy Courts contains an abundance of helpful information for business and consumer debtors, including Bankruptcy Basics and specific pages for Chapter 7, Chapter 11 and Chapter 13.
The American Bar Association also publishes consumer bankruptcy information in the areas of
For the text of the U.S. Bankruptcy Code, go to this U.S. Code page and click on the PDF button to the right of Title 11. To jump directly to the text for Chapter 7 straight bankruptcy, Chapter 11 business reorganization, or Chapter 13 wage earner’s debt adjustment, click here.
To understand the rules applicable to a bankruptcy proceeding, such as the rules governing a Chapter 7 discharge of debt or the confirmation of a debt adjustment plan under Chapter 13, you can review the Federal Rules of Bankruptcy Procedure.
The American Bankruptcy Institute is a professional organization of bankruptcy lawyers, judges, bankers, lenders, accountants and other professionals involved in bankruptcy matters. You can stay on top of the latest bankruptcy headlines, legislative developments and supreme court opinions here.
If you are having trouble making your mortgage payments, you can find information on
There are several government programs designed to help homeowners who are struggling to keep up with their mortgage payments. The umbrella program is called Making Home Affordable and includes programs such as Home Affordable Modification Program (HAMP), Home Affordable Foreclosure Alternatives Program (HAFA), and Home Affordable Refinance Program (HARP) to help you obtain a loan modification, refinance your mortgage or find an alternative to foreclosure such as a short sale or deed in lieu. Keep in mind that lenders who participate in these programs are not required to modify your loan or make any other concessions. Often times, you are better off protecting your home in a Chapter 7 or Chapter 13 bankruptcy, where you can stop a foreclosure, lower your payments, and even remove a second mortgage.