If you are thinking about filing for bankruptcy, you are not alone. Many people in Illinois and throughout the country have chosen to file for bankruptcy as a way to help them seek solace from overwhelming financial obligations when they have exhausted all other avenues. While there are several different types of bankruptcy to choose […]
As an Illinois resident, you may be considering purchasing your first home, filing for foreclosure, refinancing or making some other major decision regarding your living situation. Whatever the case may be, dealing with home matters can be stressful and overwhelming. It can be difficult to make important decisions when your emotions are running high. During […]
Liquidation bankruptcy offers a way for people to climb out of an overwhelming pile of debt and expenses. Otherwise known as Chapter 7, this form of bankruptcy gives people the opportunity to wipe their financial slate clean and gain a fresh start. Despite what some people may think, however, not all debt may be eligible […]
Whether you are having trouble making your monthly mortgage payment or you are already at a point where you have missed several payments and are at risk of losing your home, you may want to consider a short sale. If your lender approves you for a short sale, you may be able to get out […]
People who fall on hard times in Illinois may find it difficult to keep up with extensive medical bills, credit card debt and other expenses. When homeowners fall too far behind on making their monthly mortgage payments, however, they could run the risk of losing their homes. Not only is it overwhelming to have a […]
People who have declared bankruptcy in Illinois may be encouraged to open a new secured credit card with the idea of paying off the balance every month. Since bankruptcy can have a negative effect on your credit report for up to 10 years, rebuilding your credit is an essential part of reestablishing your financial stability. […]
Whether you have already started the process of filing for bankruptcy or you are simply gathering more information about the process, it is important that you know about the meeting of creditors. This mandatory meeting is essential for all who file for Chapter 7 bankruptcy in Illinois or anywhere else across the nation. Since declaring […]
Whether you run a corporation in Illinois, are the sole proprietor of a business or are involved in a partnership, you may run into tough financial situations where you are forced to consider bankruptcy as a way to clear your debt. Chapter 11 bankruptcy is designed to help these types of businesses reorganize debt in […]
There are a number of homeowners across the state of Illinois who may struggle to keep up on their mortgage payments. As a result, people may face foreclosure or lose their home when the lender decides to reclaim the property. Although homeowners who face foreclosure may be delinquent in making their house payments, they do […]
Even when people believe that their finances may be in order, they may be contacted by a creditor trying to collect an old debt. Since debt has a statute of limitations, creditors are unable to collect unpaid debt once a certain time period has passed. These ‘expired’ expenses are known as time-barred debt. Regardless of […]