Category Archives: Bankruptcy
Will I Lose My Social Security Benefits if I File Bankruptcy?
Many people count on Social Security benefits to make ends meet every month. These people are understandably wary of anything which might affect these benefits. Yet as a general rule, fear is a poor basis for any decisions you make. In general, Social Security benefits are 100 percent exempt in bankruptcy matters. This exemption… Read More »
Top Five Reasons People File Bankruptcy
Most Indiana families have little or no money in their savings accounts. So, when the financial storms of life hit these households, they do not have the resources to deal with them. That’s especially true when misfortune follows misfortune. Additionally, there may be a long-term crossover effect. For example, David might buy an expensive… Read More »
Five Assets a Grey Bankruptcy Can Protect
As people get older and their primary income-producing years are behind them, their financial priorities change. Instead of acquiring more assets, many of these people focus on protecting the assets they already have. Such protection is important not only for their own financial security, but also for the legacy they hand down to their… Read More »
The Best Bankruptcy for Your Family
Many families live from paycheck to paycheck. A third of the state’s households cannot meet a $400 emergency expense. With such a narrow margin, it’s very easy to accumulate considerable credit card debt. That’s especially true when the financial storms of life, such as divorce and job loss, hit unexpectedly. It’s also easy to… Read More »
The Different Types of Bankruptcy in Illinois
Most Illini live from paycheck to paycheck. In fact, almost half of American families cannot pay cash for a $400 emergency expense. So, most people are not able to weather the financial storms of life, such as job loss, divorce, and business downturns. These things can strike without warning at any time. At times… Read More »
Does Bankruptcy Get Rid of Student Loans?
For the most part, bankruptcy is a debtor-friendly process that eliminates crippling debt and gives your family a fresh financial start. If you file Chapter 7, that fresh start could come in as little as nine months. The bankruptcy process also protects important assets, such as your house and car, while it stops creditor… Read More »
Can Bankruptcy Stop an Eviction in Indiana?
Residential evictions are bad news. Most leases include personal property liens. So, if the tenant falls behind on rent, the landlord can do more than evict the tenant. The landlord can also seize and sell electronics, appliances, and any other valuable item in the dwelling. Commercial evictions are bad news as well. These acts… Read More »
Top 5 Reasons People File Bankruptcy in Illinois
Fundamentally, people file bankruptcy because they do not have enough money to meet their obligations, at a particular point in time. Roughly two-thirds of Americans have less than $1,000 in their savings accounts. When the financial storms of life hit, they simply don’t have the resources to weather them. Unfortunately, many people delay a… Read More »
How Can an Illinois Bankruptcy Help Me Keep My Car?
The number of seriously-delinquent auto loans in the United States recently hit a 10-year high. Approximately seven million vehicle owners are at least 90 days behind on payments. This figure does not include the number of 30 and 60-day delinquencies. In most states, including Illinois, lenders may repossess the collateral after just one or… Read More »
Four Quick Ways To Recover From An Illinois Bankruptcy
In board games like Monopoly, filing bankruptcy means you lose the game. Fortunately, the game of life (the real one and not the board game) is a lot more forgiving. Most people file bankruptcy because of job loss, serious illness, or other events that are beyond their control. But recovering from bankruptcy is different…. Read More »
