Tag Archives: Bankruptcy
Bankruptcy And HOA Fees
A homeowners’ association (HOA) enforces rules pertaining to how your property is used and what it looks like. Most deed-restricted communities require an HOA fee that pays for that community’s upkeep and maintenance. These fees may be due monthly, quarterly, or annually. If you pay HOA fees (or “dues”), you may be surprised if… Read More »
Illinois Debt Relief Options
Bankruptcy in Illinois is a legal option providing much-needed relief for people facing overwhelming financial pressures due to unforeseen mortgage troubles, crushing medical bills, sudden unemployment, or the financial problems that can be generated by a divorce. To determine if a Chapter 7 bankruptcy might be the right option for you in the Chicago… Read More »
Love, Marriage, And Bankruptcy
More and more couples are having a tough time with marriage because of money. Money problems are one of the primary reasons for divorce, and plenty of people get wounded in the heart as well as the wallet in such situations. Bankruptcy is a solution for some couples; in the Chicago area, you should… Read More »
What Bankruptcy Doesn’t Cover
If you’re struggling with debt and thinking about bankruptcy, it’s likely that you’re looking at more than a single debt. Mortgages, car payments, medical bills, and credit card payments can add up quickly and put you in need of effective debt relief. If you’re seeking bankruptcy, you’re probably interested in discharging as much debt… Read More »
Student Loans And Bankruptcy
Student loans are difficult, but not impossible, to discharge in bankruptcy. To do so, you must show that payment of the debt “will impose an undue hardship on you and your dependents.” You must file a formal “complaint” with the bankruptcy court, a “Complaint to Determine Dischargeability.” It’s then up to you to prove… Read More »
Improving Your Credit Score
A bad credit score seriously restricts your financial freedom. With bad credit, you may be denied loans to buy a car, a home, or start a business. Improving your credit will take time, patience, and modification of your spending habits to fit within your budget. Almost anyone, even someone who has just completed a… Read More »
Bankruptcy And The Military
Members of the armed forces often suffer financial difficulties. In fact, scores of men and women in uniform file for personal bankruptcy every year. Military personnel live a unique lifestyle that often leaves families hanging between multiple mortgages and a variety of other debts. If you’re in the armed forces and considering bankruptcy in… Read More »
Bankruptcy In Illinois
The typical personal bankruptcy is a Chapter 7 bankruptcy, where the court sells off most of your assets and uses the funds to pay as much of your debt as possible. Anything not paid is discharged or erased. However, under a Chapter 13 bankruptcy, you develop a plan to pay off important and secured… Read More »
Be Careful With Credit Cards
Credit cards are a blessing – or a curse. It depends on how you use them and what your overall financial condition is. Insurmountable credit card debt is one of the main reasons so many people declare bankruptcy, so it’s important to learn how to use credit cards appropriately, especially if you’re just beginning… Read More »
New Technology For Debt Settlement
If you’re considering bankruptcy, it’s likely that you’re already being harassed by creditors. One immediate benefit of bankruptcy is what’s called the automatic stay. It’s a court order for relief from creditors that goes into effect without delay when you file for bankruptcy. The automatic stay prevents creditors from continuing to harass you about… Read More »
