Facing financial difficulties can be overwhelming, especially when considering bankruptcy.
Chapter 13 bankruptcy offers a path to reorganize your debts and regain control of your finances.
In Chicago, you can find numerous attorneys who specialize in this area of law.
They are ready to guide you through the process.
Robert J. Adams & Associates stands out as a top choice for Chapter 13 bankruptcy representation in Chicago.
The firm has 48 years of experience and a perfect 10.0 rating.
When seeking legal assistance for your financial situation, it’s crucial to choose a lawyer with extensive knowledge and a proven track record.
A skilled attorney can help you navigate the complexities of bankruptcy law and work towards a fresh financial start.
1) Jones Day
Jones Day is a prominent law firm with a strong presence in Chicago.
Their Chicago office provides award-winning service and global reach to clients across various legal matters.
The firm’s expertise extends to complex bankruptcy cases, including Chapter 13 proceedings.
Their team of experienced lawyers can guide you through the intricacies of bankruptcy law.
Jones Day’s Chicago office is part of a larger international network, allowing you to benefit from resources and knowledge spanning multiple jurisdictions.
This can be particularly valuable if your bankruptcy case has international implications.
The firm’s attorneys have handled some of the most complex and cutting-edge Chapter 11 cases in the country.
While Chapter 13 differs from Chapter 11, this experience demonstrates their proficiency in navigating complex bankruptcy matters.
When you choose Jones Day, you’ll work with lawyers who understand both local and global legal landscapes.
This breadth of knowledge can be crucial in developing effective strategies for your Chapter 13 bankruptcy case.
The firm’s commitment to client service means you can expect personalized attention and tailored solutions for your specific financial situation.
Their attorneys will work diligently to protect your interests throughout the bankruptcy process.
2) Kirkland & Ellis LLP
Kirkland & Ellis LLP stands out as a prominent law firm in Chicago, known for its expertise in bankruptcy and restructuring.
The firm’s reputation extends beyond the city, as it is recognized globally for its legal services.
James H.M. Sprayregen founded Kirkland’s worldwide Restructuring Group in 1990.
Under his leadership, the group has grown to become a leader in the field.
You’ll find that Kirkland & Ellis attorneys are frequently recognized for their skills in bankruptcy law.
For instance, David R. Seligman was named the 2018 Lawyer of the Year for Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law in Chicago by Best Lawyers.
The firm’s approach to bankruptcy cases often involves strategic use of the legal system.
They are known for their ability to navigate complex Chapter 11 proceedings efficiently.
Kirkland & Ellis’s bankruptcy practice extends beyond traditional reorganizations.
They also handle distressed acquisitions, debt restructurings, and creditors’ rights matters.
When you work with Kirkland & Ellis, you benefit from a team with extensive experience in high-profile bankruptcy cases.
Their attorneys have represented major corporations across various industries in financial distress situations.
The firm’s size and resources allow them to handle large, complex bankruptcy matters effectively.
You can expect a thorough and sophisticated approach to your Chapter 13 bankruptcy case.
3) Sidley Austin LLP
Sidley Austin LLP is a prestigious law firm with a strong presence in Chicago.
The firm’s Global Restructuring group boasts over 60 full-time restructuring lawyers, ensuring you have access to extensive expertise in bankruptcy matters.
With roots dating back to 1866, Sidley Austin has grown alongside Chicago for over 150 years.
The firm’s Chicago office now houses nearly 500 lawyers, offering you insights on a wide range of legal issues, including bankruptcy and restructuring.
When you choose Sidley Austin, you benefit from their experience in sophisticated and complex bankruptcy matters.
Their attorneys have played significant roles in important cases across the United States over the past decade.
The firm’s bankruptcy litigation lawyers are particularly noteworthy.
They can represent you in various aspects of bankruptcy cases, drawing on their deep bench of experienced litigators from across the firm.
Sidley Austin’s Chicago office is recognized as one of the city’s legal powerhouses.
You’ll have access to attorneys who can handle high-stakes litigation, transactional, and regulatory matters related to your Chapter 13 bankruptcy case.
The firm’s commitment to excellence is evident in their recognition.
In Chicago alone, 390 attorneys from Sidley Austin have been selected to the Super Lawyers or Rising Stars lists, indicating their high level of peer recognition and professional achievement.
4) Skadden, Arps, Slate, Meagher & Flom
Skadden, Arps, Slate, Meagher & Flom LLP is a prestigious law firm with a strong presence in Chicago.
While primarily known for corporate law, the firm also handles bankruptcy cases, including Chapter 13 matters.
You’ll find that Skadden’s Chicago office houses attorneys well-versed in various legal areas.
Their expertise extends to corporate restructuring and bankruptcy proceedings, making them a potential choice for complex Chapter 13 cases.
The firm’s reputation for handling high-profile cases and intricate legal matters may appeal to you if your bankruptcy situation involves complex financial arrangements or business interests.
Skadden’s attorneys are recognized for their innovative approaches to legal challenges.
This could be beneficial if your Chapter 13 case requires creative solutions or strategies.
Keep in mind that Skadden typically works with large corporations and high-net-worth individuals.
Their services may be more suitable if your Chapter 13 case involves substantial assets or intricate financial structures.
The firm’s global reach and extensive resources can be advantageous if your bankruptcy case has international implications or requires coordination across multiple jurisdictions.
When considering Skadden for your Chapter 13 representation, remember to inquire about their specific experience with individual bankruptcy cases and their fee structure, as it may differ from smaller specialized bankruptcy firms.
5) Jenner & Block LLP
Jenner & Block LLP is a prestigious law firm with a strong presence in Chicago.
Their bankruptcy and restructuring practice is highly regarded in the legal community.
The firm’s bankruptcy team is co-chaired by Melissa Root, who serves as the Managing Partner of the Chicago office.
You can rely on her extensive experience in helping creditors, debtors, and other stakeholders navigate complex bankruptcy proceedings.
Jenner & Block’s bankruptcy lawyers are skilled in handling Chapter 11 cases and other forms of financial restructuring.
They provide strategic counsel to businesses facing financial distress.
You’ll find that the firm offers a full range of services related to bankruptcy and restructuring.
This includes complex litigation, high-stakes negotiations, and guidance through various financial challenges.
The Chicago office is located at 353 N. Clark Street, making it easily accessible for clients in the city.
You can reach out to them for assistance with your Chapter 13 bankruptcy needs or other financial restructuring matters.
Jenner & Block’s commitment to diversity, equity, and inclusion may be an additional factor to consider when choosing your legal representation.
Their team brings a wealth of experience to the table, ensuring you receive top-tier legal advice for your bankruptcy concerns.
6) Winston & Strawn LLP
Winston & Strawn LLP is a prestigious law firm with a strong presence in Chicago.
Founded in 1853, it has grown to become one of the largest and oldest legal practices in the city.
The firm’s bankruptcy and restructuring team is highly regarded in the legal community.
They handle complex corporate bankruptcies and assist companies in financial distress.
Winston & Strawn’s attorneys are skilled in navigating the intricate web of claims that often arise in large bankruptcy cases.
These may involve lenders, trustees, debtors, creditors, and various other stakeholders.
You can expect top-tier representation from their experienced lawyers.
The firm’s complex commercial litigation and restructuring groups have received Tier 1 rankings from U.S. News-Best Lawyers®.
Winston & Strawn’s Chicago office boasts over 275 lawyers across 23 practice areas.
This breadth of expertise allows them to provide comprehensive legal services to clients facing bankruptcy issues.
The firm’s attorneys have received numerous accolades for their work in bankruptcy and restructuring.
For example, Daniel J. McGuire has been recognized in multiple editions of Best Lawyers for his expertise in bankruptcy and creditor-debtor rights.
When you choose Winston & Strawn, you’re selecting a firm with a long history of success and a deep understanding of Chicago’s legal landscape.
Their attorneys are well-equipped to guide you through the complexities of Chapter 13 bankruptcy proceedings.
7) Mayer Brown LLP
Mayer Brown LLP is a prominent law firm with a strong presence in Chicago.
Their restructuring practice is known for handling complex bankruptcy cases, including Chapter 13 filings.
The firm boasts a team of experienced attorneys who specialize in various aspects of bankruptcy law.
They provide comprehensive legal services to individuals and businesses facing financial difficulties.
Louis S. Chiappetta, a partner at Mayer Brown, leads the Global Restructuring Debtor practice.
His expertise in representing both debtor and creditor clients in complex US and non-US cases makes him a valuable asset for Chapter 13 bankruptcy matters.
Another notable attorney at the firm is Sean T. Scott, who heads the Chicago office’s Restructuring practice.
Scott primarily counsels banks, private credit funds, and other institutions in their restructuring needs.
When you choose Mayer Brown LLP for your Chapter 13 bankruptcy case, you can expect high-quality legal representation.
Their attorneys are well-versed in navigating the complexities of bankruptcy law and can guide you through the process effectively.
The firm’s extensive resources and global reach can be advantageous for your case.
You’ll benefit from their deep understanding of financial markets and legal landscapes, which can help achieve favorable outcomes in your Chapter 13 bankruptcy proceedings.
8) Latham & Watkins LLP
Latham & Watkins LLP is a prominent law firm with a strong presence in Chicago.
Their bankruptcy practice is known for handling complex restructurings and special situations.
You can expect top-notch legal representation from their team of experienced attorneys.
The firm’s Chicago office boasts an impressive roster of lawyers who are well-versed in various aspects of bankruptcy law.
Caroline Reckler, a nationally recognized bankruptcy lawyer, serves as the Global Vice Chair of the firm’s Restructuring and Special Situations Practice.
She advises debtors worldwide on all aspects of restructuring and special situations.
Latham & Watkins has a reputation for excellence in out-of-court restructurings, high-value Chapter 11 cases, and cross-border bankruptcies.
Their team demonstrates broad substantive knowledge in complex financing matters.
The firm’s bankruptcy practice has received recognition from Chambers USA, highlighting their continuing strength in various areas of restructuring.
You can benefit from their extensive experience in advising public and private companies in financial distress.
Latham & Watkins offers a comprehensive range of services related to bankruptcy and restructuring.
Their attorneys are equipped to handle both debtor and creditor-side matters across various industries.
With their deep expertise and global reach, Latham & Watkins is well-positioned to assist you with your Chapter 13 bankruptcy needs in Chicago.
Their team’s experience in complex cases can provide valuable insights for your situation.
9) Locke Lord LLP
Locke Lord LLP is a prestigious law firm with a strong presence in Chicago.
Their Bankruptcy, Restructuring and Insolvency Practice Group has extensive experience in complex bankruptcy cases and out-of-court restructurings.
When you’re facing financial difficulties, you can trust Locke Lord’s expertise in Chapter 13 bankruptcy.
Their team of skilled attorneys can guide you through the intricacies of debt reorganization and help you develop a feasible repayment plan.
The firm’s Chicago office has been providing comprehensive legal services since 1914.
You’ll benefit from their deep understanding of local laws and regulations, as well as their connections within the Chicago legal community.
Jonathan W. Young, Co-Chair of the Bankruptcy, Restructuring and Insolvency Practice Group, is a notable attorney at Locke Lord.
His expertise in handling difficult and contentious situations can be invaluable during your bankruptcy proceedings.
Locke Lord’s attorneys regularly advise premier financial institutions and have experience in commercial mortgage-backed securities special servicing.
This broad knowledge base can be particularly helpful if your bankruptcy case involves complex financial matters.
You’ll find Locke Lord’s Chicago office at 111 South Wacker Drive, Suite 4100.
Their team is ready to provide you with the professional legal representation you need during your Chapter 13 bankruptcy process.
10) McDermott Will & Emery
McDermott Will & Emery is a prominent law firm with a strong presence in Chicago.
Their bankruptcy litigation team is well-equipped to handle complex Chapter 13 cases.
The firm’s attorneys are skilled in navigating the intricacies of bankruptcy proceedings, whether you’re a debtor seeking relief or a creditor owed substantial sums.
They can help you address the various issues and conflicts that often arise during bankruptcy litigation.
McDermott Will & Emery’s restructuring and insolvency practice is adept at handling distressed transactions for both publicly and privately owned companies.
Their expertise extends to in-court and out-of-court financial challenges.
The firm’s Chicago office is home to Felicia Perlman, who heads the restructuring practice.
She brings extensive experience in representing clients throughout all stages of restructuring transactions, from Chapter 11 reorganizations to out-of-court negotiations and workouts.
You’ll benefit from McDermott Will & Emery’s recognition in the field of bankruptcy litigation.
The firm has received top-tier national rankings in Litigation – Bankruptcy from Best Law Firms, demonstrating their excellence in this area.
When you choose McDermott Will & Emery for your Chapter 13 bankruptcy case, you’re selecting a firm with a proven track record and comprehensive knowledge of bankruptcy law.
Their attorneys are committed to guiding you through the complex process and helping you achieve the best possible outcome.
11) Foley & Lardner LLP
Foley & Lardner LLP is a prominent law firm with a strong presence in Chicago.
Their Bankruptcy & Business Reorganizations practice offers comprehensive services for clients facing financial distress.
The firm’s attorneys are well-versed in Chapter 13 bankruptcy cases, providing expert guidance to individuals seeking debt relief.
You can expect personalized attention and strategic advice tailored to your specific financial situation.
Foley & Lardner’s team regularly advises on complex bankruptcy matters, including asset sales and acquisitions.
Their experience extends to both in-court and out-of-court restructurings, ensuring you receive well-rounded representation.
The firm’s bankruptcy practice is nationally recognized, with attorneys frequently listed in prestigious legal directories.
This recognition speaks to the quality of service you can expect when working with Foley & Lardner.
With a deep understanding of bankruptcy law and a commitment to client success, Foley & Lardner’s attorneys strive to achieve the best possible outcomes for your Chapter 13 case.
Their approach combines legal expertise with practical business insights.
You’ll benefit from the firm’s extensive resources and collaborative approach.
Foley & Lardner’s interdisciplinary teams work together to address all aspects of your bankruptcy case, ensuring comprehensive representation.
12) Perkins Coie LLP
If you’re seeking top-tier legal representation for Chapter 13 bankruptcy in Chicago, Perkins Coie LLP is a firm to consider.
With a strong reputation in bankruptcy and restructuring, they offer comprehensive services for debtors, creditors, and other stakeholders.
Perkins Coie’s bankruptcy team has extensive experience in both in-court proceedings and out-of-court restructurings.
They can guide you through every aspect of the insolvency process, ensuring your interests are protected.
The firm’s expertise extends to distressed mergers and acquisitions, wind-down transactions, and bankruptcy-related litigation.
This broad knowledge base allows them to provide you with well-rounded advice tailored to your specific situation.
One of Perkins Coie’s notable attorneys in this field is David M. Neff.
Recognized as one of the most experienced hotel bankruptcy and restructuring lawyers in the country, he brings decades of expertise to complex bankruptcy cases.
Perkins Coie has received numerous accolades for its legal prowess.
The firm has been ranked nationally in various areas of law and recognized as a top workplace in Washington D.C.
When you choose Perkins Coie, you’re partnering with a firm that has a proven track record of success.
Their team of skilled attorneys can help you navigate the complexities of Chapter 13 bankruptcy with confidence and professionalism.
13) Reed Smith LLP
Reed Smith LLP is a prominent law firm with a strong presence in Chicago.
Their team includes skilled bankruptcy attorneys who can guide you through Chapter 13 proceedings.
The firm’s lawyers are recognized for their expertise in bankruptcy and creditor debtor rights.
They have received national rankings in these practice areas, demonstrating their proficiency in handling complex financial matters.
When you choose Reed Smith LLP, you benefit from their extensive experience in litigation and bankruptcy cases.
Their attorneys have been recognized by Lawdragon 500 as leading professionals in these fields.
The firm’s Chicago office is located at 10 South Wacker Drive, providing convenient access for clients seeking Chapter 13 bankruptcy assistance.
You can expect personalized attention and strategic advice tailored to your specific financial situation.
Reed Smith LLP’s attorneys stay up-to-date with the latest developments in bankruptcy law.
This ensures you receive current and effective legal representation throughout your Chapter 13 process.
With their comprehensive approach, Reed Smith LLP can help you navigate the complexities of Chapter 13 bankruptcy.
Their goal is to achieve the best possible outcome for your financial future.
What is Chapter 13 Bankruptcy?
Chapter 13 bankruptcy is a legal process that allows individuals with regular income to restructure their debts and create a repayment plan.
It offers an alternative to Chapter 7 bankruptcy and can help you keep your assets while working towards financial recovery.
Definition and Overview
Chapter 13 bankruptcy is also known as a wage earner’s plan.
It enables you to develop a plan to repay all or part of your debts over a period of three to five years.
This type of bankruptcy is designed for individuals with regular income who want to catch up on missed payments and avoid foreclosure or repossession.
During the repayment period, creditors are prohibited from starting or continuing collection efforts.
This gives you time to reorganize your finances and make payments according to the court-approved plan.
Chapter 13 can be particularly beneficial if you’re behind on mortgage payments or facing foreclosure.
It allows you to catch up on arrears over time while maintaining your regular monthly payments.
How Chapter 13 Differs from Chapter 7
The main difference between Chapter 13 and Chapter 7 bankruptcy lies in the treatment of your debts and assets.
In Chapter 13, you create a repayment plan to pay off your debts over time, while in Chapter 7, your non-exempt assets are liquidated to pay creditors.
Chapter 13 allows you to keep your property, including your home and car, as long as you continue making payments according to your plan.
Chapter 7, on the other hand, may require you to surrender certain assets.
Another key difference is eligibility.
Chapter 13 is available to individuals with regular income who meet certain debt limits.
Chapter 7 is typically for those with limited income and assets who can’t afford a repayment plan.
The discharge rate, or success rate, also differs.
In 2021, there were 120,002 Chapter 13 filings compared to 288,327 Chapter 7 filings in the U.S.
Qualities of the Best Chapter 13 Bankruptcy Lawyer
When seeking a Chapter 13 bankruptcy lawyer in Chicago, certain qualities set the best attorneys apart.
These qualities ensure you receive expert guidance and support throughout the complex bankruptcy process.
Experience and Expertise
The best Chapter 13 bankruptcy lawyers possess extensive experience and specialized expertise.
You should look for an attorney who has handled numerous Chapter 13 cases successfully.
Their deep understanding of bankruptcy laws and local court procedures is crucial.
A top-tier lawyer stays updated on the latest changes in bankruptcy legislation.
They can navigate complex financial situations and develop effective repayment plans tailored to your specific needs.
Look for attorneys who are board-certified in bankruptcy law or members of professional bankruptcy associations.
These credentials demonstrate their commitment to excellence in this field.
Client Testimonials and Reviews
Client feedback provides valuable insights into a lawyer’s performance and client satisfaction.
The best Chapter 13 bankruptcy attorneys have a track record of positive reviews and testimonials from past clients.
Look for lawyers with high ratings on reputable legal directories.
Pay attention to reviews that mention the attorney’s communication skills, responsiveness, and ability to achieve favorable outcomes.
Client testimonials often highlight the lawyer’s empathy, patience, and ability to explain complex legal concepts in understandable terms.
These qualities are essential for guiding you through the stressful bankruptcy process.
Consider scheduling consultations with highly-rated attorneys to assess their communication style and expertise firsthand.
Benefits of Hiring a Chicago-Based Lawyer
Choosing a local Chicago attorney for your Chapter 13 bankruptcy case offers distinct advantages.
A lawyer familiar with the city’s legal landscape can provide tailored guidance and personalized support throughout the process.
Knowledge of Local Laws and Procedures
A Chicago-based bankruptcy lawyer possesses in-depth knowledge of Illinois state laws and local court procedures.
This expertise allows the lawyer to navigate the complex bankruptcy system more efficiently on your behalf.
They understand the specific requirements of the Northern District of Illinois Bankruptcy Court and can help you prepare your case accordingly.
Local attorneys are also familiar with the trustees and judges who oversee Chapter 13 cases in Chicago.
This familiarity can be advantageous when presenting your case or negotiating terms.
They can anticipate potential challenges and develop strategies tailored to the local legal environment.
Accessibility for In-Person Consultations
Hiring a Chicago lawyer provides you with the opportunity for face-to-face meetings.
In-person consultations allow for more effective communication and a stronger attorney-client relationship.
You can discuss sensitive financial matters more comfortably and receive immediate responses to your questions.
Local representation also means your lawyer can easily attend court hearings and creditor meetings with you.
This physical presence can be reassuring during what is often a stressful process.
Additionally, if you need to submit documents or review paperwork, you can do so in person, reducing the risk of delays or miscommunication.
Frequently Asked Questions
Filing for Chapter 13 bankruptcy in Chicago involves several important considerations.
Understanding the qualifications, costs, and process can help you make informed decisions about your financial future.
What are the qualifications for low-income bankruptcy assistance in Chicago?
Low-income individuals in Chicago may qualify for free or reduced-cost bankruptcy assistance.
You generally need to meet income thresholds based on household size.
Local legal aid organizations often provide these services to eligible clients.
How do I find a reputable Chapter 13 bankruptcy attorney in Chicago?
To find a reputable Chapter 13 bankruptcy attorney in Chicago, you can start by checking reviews and ratings online.
The Chicago Bar Association also offers referral services.
Consulting with multiple attorneys before making a decision is advisable.
What should I expect to pay for a bankruptcy lawyer’s services in Chapter 13 proceedings in Illinois?
Fees for Chapter 13 bankruptcy lawyers in Illinois typically range from $3,000 to $5,000.
Some attorneys offer payment plans.
The exact cost depends on the complexity of your case and the lawyer’s experience.
Can you file for Chapter 13 bankruptcy without a lawyer in Illinois?
You can file for Chapter 13 bankruptcy without a lawyer in Illinois, but it’s not recommended.
The process is complex and errors can be costly. Self-representation may lead to case dismissal or unfavorable outcomes.
What are some tips for choosing between Chapter 13 and Chapter 7 bankruptcy attorneys in the Chicago area?
When choosing between Chapter 13 and Chapter 7 attorneys in Chicago, consider their experience with your specific type of case.
Look for attorneys who specialize in personal bankruptcy.
Firms like Jones Day have expertise in complex bankruptcy matters.
Are there any organizations that offer free bankruptcy consultation services in Chicago?
Yes, several organizations in Chicago offer free bankruptcy consultation services.
The Legal Aid Chicago provides free legal assistance to low-income residents.
Some law firms also offer initial consultations at no cost.