RALIS LAW
Bankruptcy
Need Help Declaring?
WHY CHOSE RALIS FOR BANKRUPTCY HELP
45 Years of Experience
We provide help through chapter 7 bankruptcy filingsin Illinois.
Stop Creditor Calls
Immediately upon retaining us you will be able to start referring all the calls from creditors to us.
Protect Assets
Third party collection agencies will be prohibited from contacting you directly after you hire legal counsel.
Low Attorney Fees
We offer a competitive fee structure for individual and joint filings.
Ralis Law
What is Chapter 7 Bankruptcy Relief?
Filing a petition for relief under Chapter 7 of the US Bankruptcy Code allows a “fresh start” for persons who qualify. You can get debt forgiveness (discharge) of all allowable debts and get a new financial life without the burden of debts you cannot afford to pay due to your current financial situation. I like to call it “recycling the consumer “in that you can rebuild your financial life if you start over without impossible debt burdens.
You Are Not Alone
RALIS LAW CAN HELP
Payment
Options
We take into consideration your finances
Payment Options
In Bankruptcy court attorney fees are required to be paid before we can file but we do have payment options.
Ralis Professionals
Curated Process
How We Help
You are not the only person who is suffering from creditor harassment due to your inability to pay your bills. Immediately upon retaining us you will be able to start referring all the calls you receive from your creditors to us. Third party collection agencies will be prohibited from contacting you directly after you hire legal counsel. Our firm can help you stop wage garnishments, so you take home all of the money you worked hard to obtain
Our Commitment
Personal Guidance
We Commit
At Law Offices of Robert J. Ralis we are committed to our clients. We will use our knowledge and expertise to get your case through to discharge in a timely manner.
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Do I qualify?
In a short interview of five to fifteen minutes of your time, we can usually determine if you may qualify for bankruptcy relief. There is no charge for this initial interview. We need to get detailed information on all your debts, assets and income. Once you pay a minimal retainer we may need as much as one to two hours of our time to collect the necessary detailed information and prepare your filing.
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What does it cost?
The fee for a single filer will start at $2000.00 for the attorney fee and $338.00 filing fee. You also need to take two credit counseling courses on the internet for about $15-$20 each depending on the course provider. A married couple filing jointly starts at $2,500.00 and a simple business or self-employed person starts at a minimum of $2,500.00.
RALIS LAW BANKRPUTCY
Our Firm’s Advantage
Low Cost Attorney Fees
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Our attorney fee rates for single and joint Chapter 7 filings are competitive and fair. Our aim is to help you get out of debt not cause you more debt by paying our fee.
Practical Tips
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If you have not already done so, STOP using credit cards. If you did recently make a change on a credit card, you must make at least one monthly payment before filing.
DO NOT make any cash advances on any credit cards since these may not be dischargeable if done within six months of filing.
DO NOT make large payments to relatives, friends or a credit card you may want to keep. The trustee can recover this money back from all the above if he/she believes you preferred or favored one creditor at the expense of another.
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Frequently Asked Questions
What types of consumer bankruptcy do you handle?
We handle Chapter 7.
Will filing bankruptcy stop foreclosure on my home?
Yes, the automatic stay immediately halts most collection actions, including foreclosure (temporarily).
Will I lose my house if I file bankruptcy?
Not necessarily. Many states have homestead exemptions that protect equity up to certain limits. Illinois just increased their homestead to $50,000 for a married couple.
How does bankruptcy affect a pending real estate closing?
If the seller files, the bankruptcy trustee may assume or reject the contract, potentially delaying or complicating closing. Buyers may need court approval. If the buyer files, it could pause their financing or require disclosures.
Can I buy or sell real estate while in bankruptcy?
It’s possible but not recommended.
Does bankruptcy wipe out all debts, including mortgage?
No. Bankruptcy discharges unsecured debts but secured debts like mortgages remain, meaning the lien stays on the property. You must continue to make payments to keep the home.
How long does bankruptcy stay on my credit report?
Chapter 7 stays for 10 years. Many people can qualify for mortgages sooner (e.g., 1–4 years post-discharge, depending on the lender). In our experience, credit card companies will send you cards as soon as you receive a discharge, which will help you to start building your credit again.
What is the automatic stay, and how long does it last?
It’s a court order stopping most creditor actions upon filing. It lasts 6 months.