The Premier Quad Cities Bankruptcy FirmWilliams & Associates, P.C.
Welcome to Williams & Associates, P.C.
After you have reviewed the information on our website about your rights and alternatives, if you still have questions, or wish to make an appointment to review your financial situation, please call our law office at (309) 788-3799 or fill out our simple contact form below.
Your initial interview is free and usually takes about an hour and a half. We will review your individual financial situation and advise you of your alternatives. Sometimes persons are not as bad off as they think they are, and if this is so, we will recommend alternatives other than filing for protection under the Bankruptcy Court. We will, however, give you our recommendation as what you should do, and of course, the final decision is left up to you.
Filing for Bankruptcy protection is an important decision, and you should not be rushed into filing without fully understanding your rights, alternatives, and obligations under the law.
Thank you, and we hope you find our website helpful.
Michael A. Williams
Consumer Bankruptcy Videos
Why File Bankruptcy
There are short-term reasons and then there are the traditional or long term reasons why so many people have been filing bankruptcy. See if these apply to you.
TRADITIONAL REASONS WHY PEOPLE FILE BANKRUPTCY: The Straw that Breaks the Camel’s Back.
Most people do live within their means. Unfortunately, it only takes one major, unexpected problem to destroy carefully-made plans.
- Repossession or foreclosure
- Divorce. (Or, being married in the first place)
- Ex-spouse files bankruptcy
- Uninsured Medical Bills and Hospitalization
- Unemployment, or underemployment
- Loss of driver’s license due to uninsured motorist accident
MAJOR SHORT-TERM PROBLEMS AHEAD: I do not think our economy is doing all that well. Here’s why:
- Gasoline prices are climbing out of sight, once again!
- Home heating costs have risen sharply!
- Insurance rates are going up as a result of Hurricane Katrina!
- Jobs are still being exported overseas!
- Interest rates are jumping!
- Many credit card companies are DOUBLING their MINIMUM MONTHLY PAYMENTS!
In short, the perfect storm is brewing and you and I are caught in the middle of it! But people also lose jobs, suffer unexpected, uninsured medical bills and get divorced. Can you honestly blame anyone for things outside their control?
What You Need To Know About Bankruptcy Right Now
There are two types of bankruptcy that consumers usually file. Chapter 7 is a straight liquidation. In Chapter 7, you file a petition and schedules that list all of your assets and debt with the Bankruptcy Court. You eliminate all debts that are dischargeable. In most cases, people who file bankruptcy do not lose any of their property to the Bankruptcy Court because the property is exempt under state law. You may not be able to file Chapter 7 if you have sufficient income to repay your debts in Chapter 13. Find out more about Chapter 7 income requirements.
Chapter 13 is a reorganization. In Chapter 13, you re-organize your debts, and you pay them in part or in full over a three- to five-year period of time. Chapter 13 may offer more advantages to you than Chapter 7 does!
Probably the best, short explanation about bankruptcy and what it can or cannot do for you comes from several Disclosures we are required to give to you, before you file bankruptcy.
Things To Know Before You See Us
There are costs involved in filing bankruptcy. Learn about the costs and fees for filing bankruptcy. There are no hidden fees!
You will need to bring some things with you to our initial meeting. Learn what to bring with you for our first FREE CONSULTATION.
Why You Should Choose Williams & Associates, P.C.
Michael Williams is a member of the American Bar Association and is admitted to practice law in the Illinois and Iowa Federal District Courts. He is also a member of the International Lawyers Association.
Find Us Here
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3610 25th Street
Moline, IL 61265
Hours of Operation
Mon-Fri: 9am-5pm cst