Category Archives: Chapter 13 Bankruptcy
Are Eviction Records Public In Cook County?
In most cases, yes. As outlined below, Cook County judges only seal evictions in limited cases. A recent eviction makes it almost impossible to get a home loan or rent another residence in a desirable location. Elsewhere in Illinois, and in most of Indiana, it’s even harder to seal an eviction record. The rules… Read More »
What Happens To My Security Clearance If I File Bankruptcy?
Strictly speaking, nothing happens to your security clearance when you file bankruptcy. It’s illegal to discriminate against people who file bankruptcy. The Prairie State has one of the country’s strongest anti-discrimination laws in this area. However, that filing can, and usually does, trigger the notice and hearing provision in most security clearance agreements. If… Read More »
Breaking Down A Chapter 13 In Indiana
Coronavirus mortgage deferrals have helped tens of thousands of homeowners stay in their homes during a very difficult period. But once these programs expire, if you are still behind on payments, the bank can immediately foreclose on the loan. So, if you are still suffering from the lingering financial effects of coronavirus lockdowns, you… Read More »
Coronavirus Mortgage Deferrals Are Ending Soon. Are You Ready?
As the economy improves and the virus becomes less dangerous, most coronavirus mortgage deferrals are set to expire on June 30, 2021. This grace period ends as millions of homeowners are at least three months behind on payments. Their banks might offer some payment options, but they aren’t very good options. For example, a… Read More »
Chapter 13 Bankruptcy: How Do I Qualify?
During the height of the coronavirus pandemic, many mortgage lenders offered payment deferrals and other relief packages. As 2021 dawns and these promotions end, these banks will swiftly demand deferred payments which, as far as they are concerned, are now past-due payments. Legally, banks can initiate foreclosure proceedings immediately in these cases. Fortunately for… Read More »
Can Bankruptcy Keep My Family Safe at Home?
Most mortgage lenders are willing to overlook one or two missed payments, especially if the borrower has a good credit history. Technically, however, banks can initiate foreclosure proceedings after just one missed payment. That’s especially true in non-judicial foreclosure states like Indiana. Home foreclosure in the Hoosier State has almost no judicial oversight. Once… Read More »
What to Expect in a Chapter 13 Bankruptcy
Some families are able to manage significant debt loads without much of a problem. But in other cases, that’s not true. In fact, excessive debt triggers Post Traumatic Stress Disorder-type symptoms in about a quarter of Americans. Who knows how many others suffer in silence. A Chapter 13 debt management bankruptcy might be the… Read More »
Can Chapter 13 Stop an Illinois Eviction?
This question comes up a lot. Roughly a third of Illinois are renters. And, most landlords have little patience in these areas. Even if they have extensive written contracts, most landlords have only two fundamental rules for tenants: keep to yourself and pay the rent on time. Normally, bankruptcy’s Automatic Stay applies to adverse… Read More »
Can Bankruptcy Help with Tax Debt?
From Uber drivers to commercial designers, the gig economy has grown significantly in the past few years. In fact, over a third of American workers freelance. Since this income is inconsistent, to say the least, it is easy to fall behind on federal or state income tax payments. The IRS audit rate has dropped… Read More »
What You Should Know About Chapter 13 Bankruptcy
Many Hoosiers struggle with credit card, medical bills, and other unsecured debt. Chapter 7 might be a good option for these individuals. This form of bankruptcy discharges such debts in only a few months. If mortgage delinquency, past-due auto loan payments, and other secured debts are a problem, a wage-earner plan might be a… Read More »
