Tag Archives: Chicago Bankruptcy Lawyer
Bankruptcy Blockers In Illinois: The Security Clearance
The Prairie State is home to over a dozen U.S. military bases. Many of the people who work at these facilities, as well as the area defense contractors that support them, count on their security clearances. They’re understandably very protective about them. Many people think that federal debt relief programs threaten a Chicago security… Read More »
What Happens In An Indiana Bankruptcy?
Most distressed debtors can choose between Chapter 7 and Chapter 13 bankruptcy. They both begin the same way, by filing a petition and schedules. In emergency situations when time is short, it’s often possible to just file a petition and a few supporting documents. Once the creditors receive notice of the filing, the automatic… Read More »
Bouncing Back From An Illinois Bankruptcy
Every year, thousands of your neighbors obtain short and long-term debt relief through bankruptcy. Because of the automatic stay, most lenders cannot take any adverse action against most debtors while their cases are active. Furthermore, because of debt discharge, debtors no longer have any legal obligation to repay most or all of their unsecured… Read More »
Some Facts About Bankruptcy, Taxes, And Tax Refunds
For many Illinois families, the spring is a time of additional financial plenty or an additional financial need. Some people receive rather large income tax refunds. In fact, many Chicago workers over-withhold during the year to get a larger refund. But for some others, tax time has the opposite meaning, as it adds even… Read More »
The Different Kinds Of Bankruptcy In Illinois
All the types of bankruptcy have the same goal that Supreme Court Justice James Clark McReynolds first articulated in 1915: “to relieve the honest debtor from the weight of oppressive indebtedness, and permit him to start afresh free from the obligations and responsibilities consequent upon business misfortunes.” So, to be eligible for debt relief… Read More »
What Does The Automatic Stay Mean In Illinois?
Bankruptcy gives breathing room to distressed consumers, and that’s very good news for an awful lot of people. It is little wonder that one in four Americans deal with such severe financial stress that it produces PTSD-like symptoms. After only one month, most moneylenders turn into debt collectors, using tactics like constant phone calls… Read More »
Why Do Illinois Bankruptcy Judges Use Trustees?
Most baseball games have umpires and coaches. The umpire calls balls and strikes regardless of whether the call helps or hurts one team or the other; a coach pushes for the best interests of a team. Bankruptcy judges are like baseball umpires. In any dispute between the parties, the judge determines who is right… Read More »
Does Bankruptcy Get Rid Of Student Loans In Chicago?
In most cases, a college education is a very good financial investment. However, there are always exceptions. Some people in Illinois make serious mistakes and are unable to practice their chosen professions. Other people obtain their degrees but are unable to clear other hurdles, such as a professional competency exam. Still other people are… Read More »
Why Do People File Bankruptcy In Illinois?
Over half of Illinoisans struggle with financial problems, and for a substantial number of these people, the issues cause them to worry more than three hours a week, significantly affecting their ability to function at work and at home. Bankruptcy provides both short and long-term relief from these stresses. Immediately after the consumer files… Read More »
Handling Tax Debt In An Indiana Bankruptcy
Full or part-time freelancers currently constitute over a third of the U.S. workforce. Keeping up with income taxes is sometimes a problem for these individuals, especially given the changing nature of the law and the uncertain responsibilities of quarterly tax payments. Many times, people fall a little behind for various reasons, the problem snowballs,… Read More »
