Author Archives: Jessica Holguin
Has Your Driver’s License Been Suspended For Too Many Parking Tickets? Filing For Bankruptcy Can Help
Driving in Chicago can be tricky, but parking in Chicago can be an absolute nightmare. Although the city is crowded and parking is limited, think twice before parking illegally because if you do you’ll likely end up with a hefty fine to pay. What’s more, if you end up accumulating too many unpaid parking… Read More »
Arch Coal’s Bankruptcy Disclosure Statement Under Scrutiny
Arch Coal, Inc., America’s second largest coal mining company, filed for Chapter 11 (or “reorganization”) bankruptcy in January of 2011. This is a massive company that even has a mine located nearby in the Illinois Basin. According to Arch Coal’s website, the company plans to eliminate over $4.5 billion in debt from their balance… Read More »
Unsecured Debts vs. Secured Debts
If you are deep in debt and aren’t able to dig out from under your financial troubles, you may want to consider filing for bankruptcy. Bankruptcy is a procedure available under federal law that allows debtors to discharge certain debts. When a debt is discharged you are no longer liable for the debt, but… Read More »
Chapter 7 Bankruptcy: The Means Test
Chapter 7 bankruptcy is the most common type of bankruptcy for consumers and is designed to help average-income and low-income people who need help getting out of debt. More specifically, Chapter 7 bankruptcy is only available to bankruptcy filers who either do not have income or do not have income sufficient to repay their… Read More »
Bankruptcy or Taxes: What To File First
If you are sinking in overwhelming debt, you may be considering bankruptcy, but you should know that no law that ever requires anyone to declare a personal bankruptcy. The first thing you need to do is to have an experienced bankruptcy lawyer evaluate your personal financial circumstances. For some, a bankruptcy is the only… Read More »
Is Bankruptcy Right For You?
When your debts spiral out of control and your bills start to pile up – and especially if you start getting those rude phone calls from collection agencies – if you’re like most people, you might consider filing for bankruptcy. However, you may not need to take that step. For some individuals in… Read More »
Still Far From Over
RealtyTrac is a real estate information company and marketplace for foreclosed properties founded in 1993 and based in Irvine, California. RealtyTrac publishes a monthly U.S. Foreclosure Market Report which finds that despite improvements in employment and a rising economy, the foreclosure crisis in the United States is still far from over. If you are… Read More »
The Whole Truth And Nothing But
If you are struggling with debts that you can’t pay in the Chicago area, speak first with an experienced Chicago bankruptcy lawyer who can explain your legal rights and options. You must be entirely honest when filing for bankruptcy. You have to disclose everything. Otherwise, you could be accused of bankruptcy fraud, a quite… Read More »
Defend Your Home From Foreclosure
If you are a homeowner in the Chicago area and you are struggling with overwhelming debt, your home may be or may become at risk for foreclosure. You won’t be alone. Foreclosure affects thousands of families in Illinois each year. If foreclosure becomes a possibility, get legal help and contact an experienced Chicago foreclosure… Read More »
Repossession And Your Rights
If you default on an automobile loan in Illinois – even if you simply fail to make a payment – the lender may act to repossess your vehicle. After a vehicle repossession in Illinois, the lender must provide you with a “Notice of Redemption” that indicates whether or not the lender intends to sell… Read More »