Bankruptcy, Personal and Business Finances

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Bankruptcy, Personal and Business Finances

The Law Office of Thomas W. Drexler specializes in all aspects of bankruptcy, including Chapter 7, Chapter 11, Chapter 13, debt consolidation, wage earner plans, financial problems, creditor claims, contract disputes, foreclosures, and repossessions. For over 25 years, we have acted as a debt relief agency, helping Chicago area residents and corporations file for relief under the Bankruptcy Code. Mr. Drexler has appeared as a featured speaker on the bankruptcy segment for the Legal Forum radio program on WNDZ, 750 AM, and is a member of the Chicago Bar Association bankruptcy committee.

For more information, please see our FAQ (Frequently Asked Questions).


Mr. Drexler has represented all types of clients in the bankruptcy field, including individuals, whether employed, unemployed, self-employed, retired, disabled, business owners, property owners, or investors and various business entities including corporations, LLCs, and non-profits, ranging from small businesses to shopping centers and even churches, as well as bankruptcy trustees.

Keep in mind that the best solution may not be the first one that you consider. After assessing a client’s particular situation, we may find that we can resolve his/her difficulties without the need to go through the bankruptcy process, as it might be more beneficial, for example, to simply defend a foreclosure case directly or initiate negotiations with lenders or creditors.

Bankruptcy Laws

The massive changes made to bankruptcy law several years ago have made the bankruptcy process more complicated, and full of roadblocks and traps for the unwary. We can help you navigate this difficult, time-consuming process, help you properly assess your situation and advise you as to your best course of action. For general information about the different types of bankruptcy, see below. For answers to other questions and for information on mortgage loan modifications, go to our FAQ (Frequently Asked Questions). Please contact us directly if you have any unanswered questions.

The protections afforded under the bankruptcy laws are very powerful and immediate. Filing of a case, among other things, will in most situations stop: foreclosures, wage garnishments, collection activity, and vehicle repossessions and seizures.

Types Of Cases

For most individuals, there are two types, or Chapters, of bankruptcy for which they are eligible: Chapter 7 and Chapter 13. Individuals with a large amount of debt, over a certain limit, are not eligible for Chapter 13, but instead may be required to file a Chapter 11.

Chapter 7 Bankruptcy

Chapter 11 Bankruptcy

Chapter 13 Bankruptcy

Small Business Bankruptcy

If you are in need of a bankruptcy attorney in Chicago, Illinois, contact the Law Offices of Thomas W. Drexler today to discuss your case with a Chapter 11 Lawyer.