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Wonais Law, LLC Legal Blog

If you are drowning in student loan debt or struggling to repay your loans, filing for bankruptcy may now be a viable option for you. Recently the Justice Department (“DOJ”) and Department of Education announced new guidelines making it easier for debtors to discharge student loans in bankruptcy. This is an exciting development for people with student […]

Due to the pandemic and rise in unemployment rates, especially in Illinois, many people are struggling to make ends meet. Unfortunately, very few creditors are willing to work with debtors to help repay the debt owed to them or offer reasonable, affordable payment plans. Consequently, many people turn to bankruptcy for financial relief. Chapter 7 and Chapter 13 bankruptcy […]

If you have decided to file for Chapter 7 or Chapter 13 bankruptcy, you will be required to attend a meeting after your case is filed. This mandatory meeting is called a 341 meeting, or a meeting of creditors, which is required under section 341 of the U.S. Bankruptcy Code. There is no need to stress out about the meeting, […]

What is a Bankruptcy Discharge? When you file for either Chapter 7 or Chapter 13 bankruptcy, the underlying goal is to complete your case and receive a bankruptcy discharge. Once a discharge order is entered in your case, you are no longer personally liable on any debt eligible for discharge in your case. This means, you no longer owe your […]

When potential clients call our office, the two most common questions they ask are which type of bankruptcy they should file and what are the differences. In general, as a consumer, the United States Bankruptcy Code offers two different kinds of bankruptcies – Chapter 7 and Chapter 13. Although both are designed to give debtors a “fresh start,” […]

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