One of the most common questions asked by people who are considering bankruptcy is if it will be possible to purchase a home while the bankruptcy remains on their credit reports. The answer to this question is not simple, but it is possible to buy a home after filing for bankruptcy. In the right circumstances, [...]
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Most everyone who hires a bankruptcy attorney to help solve their financial problems understands that an initial consultation and interview is the first step of the process, but few understand that an interview with a bankruptcy lawyer is a two-way street. The first part of the interview should really be controlled by the client and [...]
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No one is safe from the need for bankruptcy protection. It’s always possible to get bad business advice, fall ill or to simply spend more than you earn. In fact, some of the best known people in history have had to visit a bankruptcy attorney at least once during their careers. The list includes: Henry [...]
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Choosing to file for Chapter 7 or Chapter 13 bankruptcy is a serious step best made with the help of an Illinois bankruptcy attorney. Bankruptcy has many long-term effects to consider before making a final decision. Although bankruptcy offers debtors a way to get debt discharged (Chapter 7) or to pay their bills (Chapter 13), [...]
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The decision to file for bankruptcy can be one of the most difficult decisions that someone makes in his or her lifetime. Bankruptcy usually generates emotions of trepidation and grief and has very high stakes. Fortunately, there are people who can help through this difficult time. There is always the option to file bankruptcy alone [...]
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It used to be the case that bankruptcy carried with it a heavy stigma, forcing individuals with financial troubles to avoid facing the problem altogether. This course of action most often led to even deeper debt and more severe emotional distress. In today’s questionable and constantly changing economy, however, more and more people are beginning [...]
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If student loan debt is affecting your ability to fulfill your regular financial obligations, you may be considering bankruptcy as a way to get around the problem. Ten years ago, that would have been a viable option. Today, however, all of that’s changed. In general, it is just about impossible to discharge student loan debt [...]
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In Illinois, corporations and companies with more than a single owner are required to file bankruptcy through an attorney. Individuals may legally file bankruptcy without being represented by a bankruptcy attorney. However, you will be hard-pressed to find anyone, attorney or not, that will recommend undertaking such a complicated legal endeavor without an attorney. When [...]
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Federal bankruptcy laws are intended to provide honest Americans who are over their heads in debt the chance to start over. However, not all types of debt can be completely expunged, and most Americans who go through bankruptcy retain some repayment obligations after the process is completed. Bankruptcy can be straightforward or complex, depending on [...]
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Laws concerning bankruptcy are some of the oldest in existence. Debt has been around for about as long as money and forgiveness of debt has been institutionalized for thousands of years. The modern term for bankrupt individuals or merchants came later, but has been used since the time of the Roman Empire. The first known [...]
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