Bankruptcy and Real Estate Lawyer in Schaumburg

Our passion is legal defense and council in the Schaumburg, IL area.  We are an expert team of legal councilors with over 15 years of experience in our field and are excited to help you with your legal needs.  The specialists on our team have unparalleled passion and expertise in bankruptcy law, including both chapter 7 and chapter 13 bankruptcy.  We also have significant expertise in all aspects of real estate law and foreclosure defense.

What Areas Of The Law Are We Best At?

At Chang Legal, we are proud to call ourselves the leaders in bankruptcy law services. We help our clients choose between chapter 7 and chapter 13 bankruptcy, guide them as they pursue the appropriate counseling and necessary paperwork, and do the legwork so that they know what they qualify for and whether bankruptcy is right for their specific financial circumstances. Each bankruptcy case is different and we pride ourselves in providing personalized services and advice each time.

Chapter 7 Bankruptcy

When filing for chapter 7 bankruptcy, the filer is not required to file a plan for repayment of debt. In the case of chapter 7 bankruptcies, the trustee of the court collects all nonexempt assets and sells them on behalf of the filer to pay creditors. The filer will be allowed to keep certain exempt properties, but the remainder of his or her assets will be liquidated.

Chapter 13 Bankruptcy

In a chapter 13 bankrupcy – unlike a chapter 7 bankruptcy – the filer is able to keep all property. However, he or she will have to create a repayment plan, which will describe in detail the repayment of each creditor and debt. Because of the planning aspect of a chapter 13 bankruptcy, it is often nicknamed the “reorganization bankruptcy”.
The main reasons to file a chapter 13 bankruptcy are to avoid a foreclosure or repossession, protect an asset that would otherwise be liquidated in a chapter 7 bankruptcy, if the filer makes too much money to file a chapter 7 bankruptcy, or to consolidated debts that would otherwise be liquidated in a chapter 7 bankruptcy.

Foreclosure

When an individual fears that there is a risk that he or she might be foreclosed on, immediate action is necessary.  First, he or she should call a licensed, experienced foreclosure defense law firm.  This firm can help to address the situation and involve a HUD-approved councilor to assist in the assessment. Thoroughly reviewing payment history, communication with the lender in question, and assessment of loan terms can make a huge difference in a foreclosure defense case.

The foreclosure defense law firm will then begin to create a rock solid defense on behalf of his or her client to insure the best possible outcome. Sometimes the client will still be foreclosed on, but a good defense will buy time to catch up on payments or obtain a short sale. Other times a loan modification may be on the table when it otherwise would not have been offered. An experienced foreclosure defense law firm is worth its weight in gold, so reach out to Chang Legal if you are concerned about the status of your mortgage loan.

Real Estate Law

Real estate law is an incredibly broad sector of legal work.  Chang Legal’s experience runs the gamut of real estate law, including both residential and commercial real estate.  We specialize in short sales, purchase and sale agreements, tenant and landlord disputes, settlement cases, neighborhood disputes, and much more in the residential real estate market.

When it comes to commercial real estate developments, we are experts in creating condominium association and homeowner’s association documentation.  It’s extremely important to involve an experienced attorney for these matters because developing airtight documentation and contracts is crucial to a smoothly running association.  Chang Legal loves helping our neighborhood developers insure that everything is as black and white as possible to avoid any potential disruption to the neighborhood and the legal suits that could develop as a result.

How You Can Reach Us At Our Schaumburg Office:

We’re looking forward to hearing from you.  We pride ourselves in providing the highest quality legal council to our friends and neighbors here in the Schaumburg, IL area.

To learn more about the bankruptcy, foreclosure, and real estate law support provided by Chang Legal, contact us today at contactus@changlegal.com or call 847.907.4971.

Free Bankruptcy - Foreclosure Evaluation Form:

Contact Chang Legal LLC today to learn about the legal support and law services we have to offer in Schaumburg, IL and the surrounding area.

 

Call us today at 847.907.4971 or start the process by submitting this evaluation form, and we’ll respond to you right away.