The coronavirus pandemic of 2020 has turned into a financial nightmare for millions of Americans. Tens of millions of households have had a family member apply for unemployment benefits, and the number of defaults on mortgages and other financial obligations has skyrocketed. So far, local and state governments, as well as Congress in Washington, D.C., […]
When is the Best Time to File for Bankruptcy?
Filing for bankruptcy is rarely a decision that feels “good,” but there are some choices that can make filing for bankruptcy a less stressful experience that will result in the most advantageous result. Filing for bankruptcy requires much more than filling out a simple form and submitting it for approval to a judge. The process […]
Losing a House in Bankruptcy
Losing a home in bankruptcy is a traumatic experience, but it doesn’t happen every time in every bankruptcy case. You may wish to speak with a real estate lawyer to discuss your options for bankruptcy, as well as to understand the likelihood of losing your house after filing for bankruptcy. The good news is that […]
Is Bankruptcy Right For Me?
Have you been asking yourself, is bankruptcy right for me? You probably have many questions about the law if you’re thinking about going through a complex legal process, such as filing for Chapter 7 bankruptcy, foreclosure, or if you have Tax or IRS issues. You are not alone. Such legal issues are complicated and many people […]
Your Chapter 7 Bankruptcy 101 Refresher
If you’re deep in debt, you probably have these questions running through your head: I’m in over my head each month will bills, how can I get a fresh start? How can I get the creditors to stop harassing me? Are my wages being garnished, and if so what do I do? If you have […]
Understanding the Bankruptcy Means Test
You have two options for filing bankruptcy as an individual (or family), and your current financial condition and assets will impact whether you're eligible to file for Chapter 7 bankruptcy. Bankruptcy rules include a "means test," which is a formula to determine whether your income is low enough to qualify for Chapter 7 bankruptcy. If […]
When to Declare Bankruptcy
If you're considering filing for bankruptcy, you're probably already experiencing harassment from creditors, the prospect of foreclosure if you own your home, and having difficulty paying for basic needs. So how do you know when to declare bankruptcy and when to consider other avenues? You'll want to begin by looking at all your options and […]
Don’t Make These Common Bankruptcy Mistakes
Filing for bankruptcy is an emotionally difficult task, and it requires a deep look into your finances, debts, assets, and almost every facet of your daily life. Emerging from bankruptcy often means taking a strict approach to your budget, but the process can help you get a fresh start after a devastating financial issue like […]
Filing Chapter 7 Bankruptcy With a Bankruptcy Attorney in Chicago
Filing for bankruptcy is a last resort for families in economic straits, but the process is also one of renewals and provides an opportunity to get a fresh start away from endless bills, harassment from debt collectors, and the emotional turmoil of debts you can't pay. Understanding the two major types of consumer bankruptcy will […]
Chapter 7 Bankruptcy: Keeping the Judge on Your Side
Legal movies often show lawyers that have a special rapport with the judge, or who get on a judge's nerves because of the bold moves and flamboyant behavior that is so often featured on the big screen. However, a real life bankruptcy proceeding is definitely not the place for grandstanding or creating a ruckus in […]
