Monthly Archives: April 2025
Do I Lose My Car if I File for Bankruptcy?
No, in most cases. The Bankruptcy Code, which gives honest yet unfortunate debtors a fresh start, recognizes that people need cars to work, go to school, run essential errands, and otherwise live from day to day. Illinois’ bankruptcy exemptions recognize this fact as well. So, in most cases, you don’t lose your car if… Read More »
Are Student Loans Being Forgiven in Bankruptcies?
Yes, student loans are being forgiven in bankruptcies, partially because, in 2024, former President Joe Biden undid a mistake he made some twenty years earlier. In 2005, then-Senator Biden led the charge to end some of the last bankruptcy protections for student loan debtors, primarily those who had private student loan debt related to… Read More »
