Alternatives to Bankruptcy

Contact Us


We Can Help You Find Debt Relief without Filing for Bankruptcy

At Lynch Law LLC, we recognize that bankruptcy is not right for everyone. We are committed to helping people deal with debt. To us, that means much more than just filing bankruptcy and walking away. It means providing legal support and guiding you into a future that is free of the stress that comes with overwhelming debt.

At Lynch Law, LLC., our Naperville bankruptcy lawyers have decades of combined experience helping people in DuPage County and the surrounding areas. We can help you explore alternatives to bankruptcy in Naperville whether you are an individual or a small business.

Mortgage Modification

The Homeowner Affordability and Stability Plan, signed into law in February 2009, allows many more people to stay in their houses and avoid foreclosure. If your loan is owned or controlled by Freddie Mac or Fannie Mae, you have a decent shot at refinancing your mortgage into a fixed-rate, low-interest loan if you are current on your current mortgage and aren't too "upside-down" on the property.

Debt Negotiation

Debt negotiation (or debt settlement) is a process by which a debt settlement company works directly with a consumer's creditors to negotiate a reduced principal balance repayment of unsecured debts.

Debt negotiation is not the same as debt consolidation, which consists of obtaining a loan in an amount that would cover your existing debts and consolidating those debts into one loan repayment. Debt negotiation addresses each account individually and negotiates for a reduction in principal balance.

Important things to know about debt settlement:

  • Enrolling into a debt settlement program will not automatically stop your creditors from contacting you.
  • A debt settlement program will not stop the accrual of interest, late fees, and penalties. Your program will reflect these additional charges and they will be incorporated into the settlement plan.
  • Your creditor may report the amount of forgiven debt to the IRS as discharge of indebtedness income, which you would then have to pay taxes on.

Negotiating Directly with Creditors

You may be able to negotiate with your creditors and we do not discourage you from trying. However, many consumers prefer to use a professional debt settlement service or a debt settlement attorney to avoid "going it alone" for many reasons.

For one, it can be very time-consuming and stressful to negotiate multiple accounts. Additionally, you may prefer leaving delicate negotiations to an experienced negotiator who is more familiar with the process and the expectations.

On the other hand, there are many debt settlement companies that will not represent your best interests. These types of companies will misrepresent how much they can reduce your debt and fail to adequately disclose the likelihood that you would be sued if you take their advice and stop paying creditors.

As always, it is essential that you educate yourself on the process of debt settlement. Should you choose to use a debt negotiation service, do your homework to make sure you are working with a reputable company.

Debt Counseling

Every piece of legal advice we provide is tailored to your case. Since we will take the time to learn about your situation, you can be assured that the debt counseling guidance we provide pertains specifically to your needs. We want to do what is best for you.

Preventing Debt

Our debt counseling attorneys in Naperville are here to help you prevent debt from becoming overwhelming. If you feel the stress of debts starting to consume your thoughts, we can help. If you are starting to get calls from debt collectors, we are here for you.

Relieving Debt

If you have reached the point where your debt has become unmanageable, our lawyers can help. We can walk you through the options available to you. We may recommend Chapter 7 or Chapter 13 bankruptcy. Throughout the process, we will stand by your side. We are here for you.

Managing Debt

Nearly everyone has some debt at one point in their lives, whether it is a home mortgage, a car loan, a student loan, credit card bills, or something else. The goal is simply to keep your debt manageable. Our individual and business debt management attorneys can help you do that.

We want to teach you to be your own financial planner and debt adviser. We strive to help people avoid bankruptcy by helping them build their own debt repayment and management plan.

Learn more about potential alternatives to bankruptcy in Naperville by calling Lynch Law, LLC. at (630) 960-4700.


"Roseanne is the best. My husband and I went with a cheap bankruptcy attorney to save money. BIG mistake. We ended up with an adversary hearing that our bankruptcy attorney couldn't handle. So after ..."

- Anonymous Client

"Just a note to say thank you for the legal advice you gave me last week. Before I came to see you, I was scared to face my problems, but today I opened a checking account and will go to the Social ..."

- Mrs. K.

"This extra special note sent to you today holds more appreciation than any words can say. Over 30 years ago, I found myself in a career helping others in need. I never expected to be in need myself ..."

- Mrs. J.

"Deciding to file bankruptcy and going through the process of foreclosure on our home was not something my husband and I ever thought we would have to do. On our initial visit with John, he explained ..."

- Anonymous Client

"I am extremely pleased with the service they provided: from giving me advice on how to prepare, to working with creditors, and finally to handling the legal aspects of the bankruptcy itself. They took ..."

- Mike


Family-Run Firm

Free Consultations

20+ Years of Legal Experience

No Pressure to Sign at Initial Intake