Blog Posts in February, 2012

  • Your bankruptcy attorney will advise you on the best way to handle your financial affairs after dealing with your bankruptcy. After filing for bankruptcy and starting again on a level financial footing, it is possible to use a credit card wisely and responsibly to actually improve your credit rating. Being able to obtain a credit card after bankruptcy is not an excuse to make more debt. It is a ...
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  • People who are mulling over filing bankruptcy often wonder if they will have to declare all their debts to a bankruptcy attorney. In a single word the answer to that question is a resounding "yes". Not only will you be handcuffing your bankruptcy lawyer at a creditor meeting by withholding information but also this can have serious ramifications on how the bankruptcy filing proceeds from ...
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  • If you are considering filing for bankruptcy, a bankruptcy lawyer will be your trusted ally through the fight. Bankruptcy is a complex procedure that can have a profound impact on the filer's credit rating and can even result in the loss of assets. The safest way to deal with the situation is to have a professional with you. Here is a look at how you can choose the right bankruptcy attorney. ...
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  • If you are considering filing for bankruptcy in Illinois, you will have to establish both your eligibility for bankruptcy and which type of bankruptcy that you can apply for. This is why it is vital to consult with a local Chicago bankruptcy attorney. The bankruptcy means test is used across the state of Illinois to determine whether or not you qualify for a Chapter 7 or a Chapter 13 bankruptcy. ...
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  • A bankruptcy attorney can be your saving grace if you find yourself battling lenders and debt collectors. With unemployment figures still at ominous levels and no signs of the economic turmoil subsiding, a lot of people find themselves in a precarious financial situation that involves mounting debts and no way to realistically repay them. However, there is an option that can save the day. ...
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  • If you are struggling to pay your mortgage every month due to a recent job loss or the lingering effects of the recession, then you may have to start looking at bankruptcy as a viable financial alternative. Many people are worried that if they declare bankruptcy that they will be forced out of their homes. People equate foreclosure with bankruptcy, but the reality is a very different scenario. ...
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  • There is no doubt that the continuing recession has played a large part in the increase in bankruptcies across Illinois. There is also no doubt that you are not alone. A Chapter 7 bankruptcy may be the solution that you have been looking for in your search for freedom from financial debts. There are three important steps that you will have to take when you are thinking about filing for bankruptcy ...
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  • Illinois has been one of the hardest hit states during the recession. It has had record levels of unemployment. If you are one of the people who has been unable to cope under the yoke of mounting debt, then you need to consider consulting with an experienced Chapter 7 bankruptcy attorney to help release you from your bonds. Choose Local Bankruptcy Attorneys There are a number of reasons to use a ...
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  • Many people have asked if it is possible to discharge all debt when filing for bankruptcy. This includes the debt that they owe as the result of a settlement during a divorce. The law is quite clear in this regard: It is not possible to discharge debts that are considered to be 'domestic support obligations'. This means that any settlement made during a divorce will still stand as part of ...
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  • Each person filing for bankruptcy has a unique set of challenges. There are plenty of books and websites devoted to the topic but bankruptcy is not a one-size-fits-all venture. Only experienced bankruptcy attorneys have the knowledge to confidently counsel clients as to what is best for them and their financial future. There are two types of bankruptcy and at times it is difficult to determine ...
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  • Your Chicago bankruptcy attorney will explain to you that filing for a Chapter 7 bankruptcy today requires passing a means test. The means test will review your financial situation and how much income you have to determine if you can file for a Chapter 7 bankruptcy, if the test determines that you have too much income you may be required into a Chapter 13 bankruptcy instead. Chicago Bankruptcy ...
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  • Here's an informative and troubling article concerning the student loan crisis in our country: http://nacba.org/Portals/0/Documents/Student%20Loan%20Debt/020712%20NACBA%20student%20loan%20debt%20report.pdf It's clear that this issue isn't going away and will only get far, far worse. Hopefully, Congress will provide some relief for those you need to file bankruptcy. We'll see.
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  • Your Chicago bankruptcy attorney will sit down with you and explain the different options available to anyone who wants to file bankruptcy. Most people file one of two forms of bankruptcy, a Chapter 7 or a Chapter 13. In their most simple forms, a Chapter 13 is a debt repayment plan while a Chapter 7 is a debt discharge option. There are different reasons for claiming different chapters and ...
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  • Your Chicago bankruptcy attorney will help you throughout your bankruptcy proceedings. From the first day you decide that a bankruptcy might be the road to take until all of your debts are discharged. Chicago Bankruptcy Attorney and Chapter 13 Problems If the bankruptcy courts have decided that you did not pass the means test and you are put into a Chapter 13 bankruptcy yet you still are having ...
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  • One of the first things your Chicago bankruptcy attorney will explain is that filing for bankruptcy today comes with an education. Since the changes in bankruptcy law went into effect in 2005, bankruptcy counseling and debtor education is required. There is no wiggle room here and if you don't have certificates proving that you have completed these courses then you cannot move into the final ...
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  • If you have a debt with someone else and either party finds it unmanageable, you may want to seek out a Chicago bankruptcy attorney. Cosigning a debt with someone is a serious endeavor and something that should not be taken lightly. If the other person takes it lightly that's even more reason to run away and not agree to be responsible for their debts. Chicago Bankruptcy Attorney and Married ...
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  • Senior citizens have always been notoriously diligent in paying their bills but recently Chicago bankruptcy attorneys have seen a rise in seniors being unable to pay their debts. While we still have a generation of seniors that believe in paying their debts (this may change in the future) they're finding it impossible to stay on top of them like they used to. Despite the emotional turmoil they ...
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