Blog Posts in January, 2012

  • Your Chicago bankruptcy attorney sees people of all ages who are having financial problems and coming to him for bankruptcy assistance. One common problem that is noticed among the many people set is their inability to repay student loans. The problem is that student loans are very difficult to get discharged in a bankruptcy and you'll definitely need a Chicago bankruptcy attorney on your ...
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  • C hapter 13 bankruptcies are structured so that the debtor spends between three to five years repaying their debts. Once the time period is over the remaining balances of most debtswill be discharged. The way these debts are structured is not random or a first come first serve basis; there is a particular priority formula that a bankruptcy trustee uses to determine who gets paid and when. Debts ...
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  • Here's an article from the New York Times that sounds disturbing: http://www.nytimes.com/2012/01/21/business/blacks-face-bias-in-bankruptcy-study-suggests.html?_r=1&scp=1&sq=bankruptcy%20study%20chapter&st=cse. The article alleges that Blacks are being steered into Chapter 13 bankruptcies by their attorneys. For those of you who do not know, attorneys generally charge much higher ...
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  • When you begin to struggle with debt you suddenly become aware of all sorts of commercials with the "key" to your financial solvency. And while you'll notice that some of them are obviously scams you'll also realize that that are really two good solutions to your debt problems, bankruptcy and debt consolidation. Debt consolidators take all of your debts and arrange a payment plan ...
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  • Having a bankruptcy attorney is essentail if you're filing bankruptcy as they will represent you at the 341 meeting. A 341 meeting is a chance for all of your creditors to get together with you and the bankruptcy trustee so you can evaluate your debt. You can see how quickly you can feel outnumbered when you consider how many creditors you have and that without an attorney it's just you on ...
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  • People that file a Chapter 7 bankruptcy will be assigned a panel trustee, and although your panel trustee may be an attorney, he or she is not to be confused with your bankruptcy attorney and can't be seen as a substitute for hiring your own attorney. Who is Your Panel Trustee Your panel trustee for your Chapter 7 bankruptcy will most likely be selected from a panel of people, who are often ...
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  • Your bankruptcy attorney helps a lot of people who are having trouble managing their finances and can't see a way out of their debt. In some situations bankruptcy is a very wise solution and will give you a fresh start. For some people bankruptcy isn't the best idea, in fact for some it's not even an option at all. Learn the pros and cons of bankruptcy so you know if it's the right ...
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