Tag Archives: Chicago Bankruptcy Attorney
What’s The Difference Between Chapter 7 And Chapter 13?
A number of times over the last hundred years, and perhaps most recently in 1998, the Supreme Court has reaffirmed that the purpose of the Bankruptcy Code is to give the “honest but unfortunate debtor” a fresh start. There is only one kind of honest, but there are several kinds of misfortune, which is… Read More »
Bankruptcy: Help For Student Loan Borrowers
Forty-four million Americans owe a collective $1.4 trillion in education debt, a staggering total that works out to just under $40,000 per graduate. Because of the large monthly payment, many borrowers must put off large purchases, like houses and cars. Furthermore, a significant percentage of these loans are in delinquency, which indicates that the… Read More »
Bankruptcy And Security Clearances
Fear is one of the most prominent effects of debt problems. Most all of these fears are real, especially since the Supreme Court recently approved aggressive debt collection tactics that are borderline illegal. But some of these fears are largely exaggerated, and the interplay between consumer bankruptcy and a security clearance is one example… Read More »
Could Illinois Be The Next Puerto Rico?
Congress just allowed the island commonwealth, which faces about $123 in pension and bond obligations, to file a form of municipal bankruptcy. Could the Prairie State, which faces over $130 billion in pension debt alone, be next? The economic problems that brought Puerto Rico to this point, including a crippling recession, rampant government borrowing,… Read More »
Why Do People File Bankruptcy?
It should come as no surprise that medical bills are once again the top reason that people seek bankruptcy protection. Medical bills are often very onerous in and of themselves. One in five working Americans with health insurance who are under 65 have had problems paying their medical bills in the past year; to… Read More »
Honk Honk: Parking Tickets And Bankruptcy
While the number of filings has declined overall, Chicago has the the highest number of non-business Chapter 13 bankruptcy filings in the country, and almost half of them list the Chicago Parking Bureau as one of the creditors. The Windy City is notorious for its high parking ticket fines and aggressive collection procedures. In… Read More »
