Author Archives: Jessica Holguin
Does Bankruptcy Get Rid Of Student Loans In Chicago?
In most cases, a college education is a very good financial investment. However, there are always exceptions. Some people in Illinois make serious mistakes and are unable to practice their chosen professions. Other people obtain their degrees but are unable to clear other hurdles, such as a professional competency exam. Still other people are… Read More »
How Does Bankruptcy Affect Indiana Security Clearances?
Many area families understandably want an answer to this question before they file a bankruptcy petition. In many cases, security clearance revocation, or even a downgrade, could mean the end of a job or at least a considerably lower income stream. It’s illegal for any Illinois entity, including the Department of Defense, to discriminate… Read More »
Why Do People File Bankruptcy In Illinois?
Over half of Illinoisans struggle with financial problems, and for a substantial number of these people, the issues cause them to worry more than three hours a week, significantly affecting their ability to function at work and at home. Bankruptcy provides both short and long-term relief from these stresses. Immediately after the consumer files… Read More »
Handling Tax Debt In An Indiana Bankruptcy
Full or part-time freelancers currently constitute over a third of the U.S. workforce. Keeping up with income taxes is sometimes a problem for these individuals, especially given the changing nature of the law and the uncertain responsibilities of quarterly tax payments. Many times, people fall a little behind for various reasons, the problem snowballs,… Read More »
Six Dischargeable Debts In An Illinois Bankruptcy
Many people file a Chapter 7 or Chapter 13 debt relief petition to gain immediate relief from foreclosure, lawsuits, repossession, and other adverse action. While the case is pending, moneylenders can do none of these things, at least in most cases. Many other people file bankruptcy because the debt discharge gives them a fresh… Read More »
Keeping Your House, Cars, And Cash In An Illinois Consumer Debt Relief Action
No one can turn back the hands on the clock to that point in time when people had no debt. But bankruptcy does the next best thing. These voluntary petitions discharge most unsecured debts, such as credit cards and medical bills, and create a protected repayment period of up to five years which allows… Read More »
Getting The Most Out Of An Indiana Bankruptcy
Bankruptcy is a golden opportunity for many distressed debtors in Illinois and Indiana. Although it’s impossible to turn back the clock to a time before debt became a problem, both Chapter 7 and Chapter 13 do the next best thing. They stop foreclosure and other kinds of adverse action, end the obligation to repay… Read More »
Should I File Chapter 7 Or Chapter 13 Bankruptcy In Illinois?
Over the years, several Supreme Court Justices have declared that the Bankruptcy Code gives an “honest but unfortunate debtor” a fresh start. The vast majority of all debtors are honest, although the occasional fraud cases, like the 2016 Dance Moms bankruptcy saga, always make the headlines. Moreover, the vast majority of bankruptcy debtors are… Read More »
Bankruptcy Case Filings Reach 10-Year Low
Fewer people filed bankruptcy in the year ending in September 2017 than in any other year since 2007, but many observers think there may be bad financial news on the horizon. Low interest rates may be the main reason that bankruptcy filings for fiscal 2016 decreased 1.8 percent. With these low rates, many distressed… Read More »
3 Dischargeable Debts In Bankruptcy
In the words of several Supreme Court Justices, the Bankruptcy Code is designed to give the “honest but unfortunate debtor” a fresh start. This label applies to almost all the voluntary bankruptcy petitioners in Illinois and Indiana. Since it would be impossible to get this fresh start with unpaid accounts still hanging over the… Read More »
