BANKRUPTCY
What's the difference between a Chapter 7 and a Chapter 13
Chapter 7: A Chapter 7 bankruptcy is often referred to as a "straight"
bankruptcy or a "liquidation" bankruptcy. It is by far the shortest and simplest
form of bankruptcy. A Chapter 7 bankruptcy is designed to discharge most
types of unsecured debts and will typically allow you to keep a house and
car(s). Any property of value that is not exempt will be sold or turned into money
to pay your creditors.
Chapter 13: A Chapter 13 bankruptcy is often referred to as
a "debt readjustment" bankruptcy. In order for a Chapter 13 bankruptcy to be
feasible, you must have a regular source of income and be able to make
monthly payments to a trustee who will be assigned to your case. Your trustee
collects the money you pay, pays your creditors, and administers
(or oversees) your payment plan.
UNCONTESTED DIVORCE
In uncontested divorce, the parties agree on
all issues relating to their divorce such as
division of property, payment of debts, maintenance, child custody and visitation. Child
support is set by the State of Illinois and is
not an issue.
The procedure of uncontested divorce is as follows: the Petitioner comes into our office with
the terms of the settlement agreement, we prepare the paperwork, the parties sign the
divorce papers, and we accompany the Petitioner to the divorce hearing to get the divorce
final. The Respondent need not appear unless he/she wants to. The quickest that we can
finalize an uncontested divorce is 4-5 weeks.
Bittner Law Offices * Experience you can trust
