Schaumburg, IL asked in Bankruptcy for Illinois

Q: I have several unsecured debts, will it be a problem if I payoff a 2 debts 6 months prior to filing Ch 7?

I have 2 lawsuits which is the reason why I want to payoff those 2 debts because I cannot file Ch. 7 till June of 2021.

Because I will start to pay full alimony to my ex-wife starting December 1st 2020 which will bring net income to almost zero, that is why in June 2021 I will file Ch.7.

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3 Lawyer Answers
Robert J. Semrad
Robert J. Semrad
Answered
  • Bankruptcy Lawyer
  • Coral Gables, FL
  • Licensed in Illinois

A: Hello,

If you would like to receive a free phone consultation with an attorney please call us at 773-654-4518.

Thank you

DebtStoppers

David Luther Woodward
David Luther Woodward
Answered
  • Bankruptcy Lawyer
  • Pensacola, FL

A: Your question demonstrates your lack of understanding of the bankruptcy process. You need to discuss this--warts and all--with a qualified bankruptcy lawyer in your community who understands the exemptions that are available to you in Illinois.

Yours sounds like a situation that can be resolved with little pain.

Good Luck

d

Timothy Denison
Timothy Denison
Answered
  • Bankruptcy Lawyer
  • Louisville, KY

A: Consult an attorney before you do anything. It may be easil resolvable.

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