Monthly Archives: October 2025
Overcoming Emotional Barriers in a Gray Bankruptcy
Overall, the biggest emotional barriers in these cases may be bankruptcy phobia. Many debtors, especially debtors over 55 (gray bankruptcy), have an irrational fear of bankruptcy. This legitimate and debilitating condition often prevents people from seeking the financial help they need and deserve. A Chicago bankruptcy lawyer is more than an advocate. A lawyer… Read More »
What Disqualifies You from Chapter 7?
Either dishonesty or good fortune could serve to disqualify people from bankruptcy. This legal debt relief program is only available to honest and unfortunate debtors. Dishonest debtors lie on official forms or don’t cooperate with the trustee (person who manages a bankruptcy for a judge). Dishonest debtors also have debts related to fraud or… Read More »
Can You Really Negotiate Credit Card Debt?
In the financial world, almost everything is negotiable, including credit card debt. Excessive credit card debt is a serious problem in many households. The average person with credit card debt owes over $9,000. With average interest rates exceeding 21 percent, once people get on the credit card debt treadmill, it’s almost impossible to get… Read More »
Is an IRS Offer in Compromise a Good Idea?
If you meet minimum qualifications and are truly in dire straits, an amended IRS offer in compromise under the Fresh Start Program is a good idea. We examine those minimum qualifications below. An IRS offer in compromise could slash your past-due income tax bill. However, taxpayers should be aware that an OIC could negatively… Read More »