Monthly Archives: April 2023
How Does Bankruptcy Protect My House?
Illinois is a judicial foreclosure state, which theoretically means that homeowners have more protections when they fall behind on payments. But homeowners shouldn’t count on this protection. The Prairie State has the highest foreclosure rate in the country. Most banks can legally begin foreclosure proceedings after only one missed payment. These proceedings often begin… Read More »
Student Loan Cancellation Back In Court
One of the nation’s largest student loan companies filed suit against the Biden Administration, asking the court to cancel an extended payment pause. The payment pause, which began in March 2020, also suspends billing and freezes interest rates on all student loans. The pause, which is currently scheduled to end in summer 2023, could… Read More »
How To Put Bankruptcy In Your Rearview Mirror
According to the Supreme Court, the Bankruptcy Code gives honest yet unfortunate debtors a fresh start. But it doesn’t guarantee debtors a successful fresh start. After their bankruptcies end, former debtors can squander or savor their fresh starts. A good Chicago bankruptcy lawyer maximizes your fresh start, before, during, and after filing. Attorneys work… Read More »
Gray Bankruptcy In Illinois
Overall, the bankruptcy filing rate has declined since the 1990s. But the over-60 filing rate has more than tripled over the past thirty years. The double whammy of higher medical bills and lower public assistance benefits forces many older people into bankruptcy. Since the Great Recession, medical bill inflation has usually outpaced overall inflation…. Read More »
