Koch & Associates: Your Bankruptcy Lawyers in Chicago


Are you facing overwhelming debt and financial distress? Do you feel like there's no way out of your situation? Koch & Associates can help. Our Chicago bankruptcy lawyers have years of experience in helping individuals and businesses navigate the bankruptcy process and achieve financial freedom.

Types of Bankruptcy

Bankruptcy is a legal process that allows individuals and businesses to eliminate or restructure their debts. There are two main types of bankruptcy: Chapter 7 and Chapter 13.

Chapter 7 bankruptcy, also known as “liquidation bankruptcy,” allows individuals to discharge most of their unsecured debts, such as credit card debt and medical bills. However, certain types of debts, such as student loans and tax debts, cannot be discharged in a Chapter 7 bankruptcy. In exchange for the discharge of debts, the bankruptcy trustee may liquidate some of the debtor’s non-exempt assets to repay creditors.

Chapter 13 bankruptcy, also known as “reorganization bankruptcy,” allows individuals to restructure their debts into a manageable payment plan. This type of bankruptcy is usually recommended for individuals who have a steady income and want to keep their assets, such as their home and car. Under a Chapter 13 bankruptcy, the debtor makes payments to a trustee for a period of three to five years, after which the remaining debts are discharged.

What to Do If You Get Sued

If you’re facing a lawsuit from a creditor, it’s important to take action as soon as possible. Ignoring a lawsuit will only make matters worse and may result in a default judgment against you. Here are some steps you can take:

  • Respond to the lawsuit – You have a limited amount of time to respond to a lawsuit, typically 30 days. If you don’t respond, the court may enter a default judgment against you.
  • Seek legal advice – Consult with a bankruptcy lawyer in Chicago as soon as possible. They can help you understand your options and defend against the lawsuit.
  • Consider bankruptcy – Filing for bankruptcy may stop the lawsuit and allow you to discharge or restructure your debts.

Debt Negotiation

If you’re struggling with debt but don’t want to file for personal bankruptcy, debt negotiation may be an option. This involves negotiating with your creditors to settle your debts for less than what you owe. However, debt negotiation can be a complicated and time-consuming process, and it’s important to have a bankruptcy attorney in Chicago by your side to help you navigate the process.

Our dedicated attorneys at Koch & Associates have years of experience helping individuals and organizations negotiate their debt and regain financial stability.

Why Choose Koch & Associates?

At Koch & Associates, we understand the stress and anxiety that comes with overwhelming debt. We are committed to helping our clients achieve financial freedom and a fresh start. Our bankruptcy lawyers in Chicago have the knowledge and experience to guide you through the bankruptcy process and help you achieve your goals.

We offer a free initial consultation, where we will evaluate your financial situation and recommend the best course of action for you. We pride ourselves on providing personalized and compassionate service to each of our clients, and our law firm is dedicated to achieving the best possible outcome for you.

Contact Us Today

If you’re struggling with debt and need an expert bankruptcy lawyer in Chicago, don’t wait any longer. Contact Koch & Associates today to schedule your free consultation. We’re here to help you achieve financial freedom and a brighter future.

Start Your Journey toward Financial Freedom

To learn more about what we can do for you, contact us today to schedule an initial consultation. You can reach us by phone at 708-656-9900 or send us a message with a brief summary of your issue. We’ve dedicated our lives to helping people in your situation. Reach out today so we can help you, too.

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