Author Archives: Jessica Holguin
Short Sales In Illinois
A short sale is the sale of a property where the sale price is less than the balance owed on the mortgage. A short sale may be the best option for some people facing financial difficulties, but is it right for you? It might be – if your home is underwater and you are… Read More »
Bankruptcy and American Tradition
Today’s bankruptcy laws are designed to cover relatively simple financial situations as well as the most complicated scenarios. Bankruptcy is now used not only to get out of debt but also for a variety of other financial reasons. Those other reasons include but are not limited to: – getting out of contracts and leases… Read More »
Bankruptcy Misconceptions
The word “bankruptcy” is tossed around quite casually. Not surprisingly, a great many myths and misconceptions are passed around regarding bankruptcy laws, so one of the many jobs of a good bankruptcy lawyer is debunking the myths, clearing up the misconceptions, and explaining the law in a simple, straightforward manner. When you are well-informed… Read More »
Restoring Credit After Bankruptcy
If you’re considering bankruptcy, your credit score has probably dropped while your debts have mounted. In the Chicago area, before filing for bankruptcy, consult first with an experienced Chicago bankruptcy lawyer who may be able to recommend other options. Every time you miss a mortgage payment, auto loan payment, or credit card payment, your… Read More »
Don’t Risk Your Retirement
One of the most common and tragic mistakes people make when they’re trying to pay off debts is withdrawing cash from a retirement account or obtaining a loan based on your retirement assets. Many people are not aware that this is a dangerous way to attempt to pay mounting debts. In the Chicago area,… Read More »
Protecting Your Home And Family
If you’re Bill Gates or Warren Buffett, this may not apply to you. The rest of us, however, could find ourselves in serious debt at almost any time for a variety of reasons ranging from a job loss to a serious illness to a natural disaster. When out-of-control debt threatens the roof over your… Read More »
The Automatic Stay
Bankruptcy, as you may know, is the legal process that allows individuals, couples, or businesses to liquidate many of their debts and get a fresh financial start. There are several ways to declare bankruptcy; in the Chicago area, you should seek legal advice and help regarding bankruptcy from an experienced Chicago bankruptcy lawyer. All… Read More »
Bank Account Seizures
When a creditor wins a judgment against you, that creditor may attempt to seize (or “levy”) your bank account(s). How much of your bank account is exempt – that is, how much is protected from creditors by federal law – hinges on the amount you have in the bank and on the source of… Read More »
Credit Cards and Medical Debt
It’s happened to thousands and probably to millions. You’re just barely able to meet your financial responsibilities, or you’re just getting on your feet, and a swelling or a lump appears from nowhere. After a few days, it hasn’t gone away. You visit your doctor, who orders a scan or a biopsy. You return… Read More »
Should I File For Bankruptcy?
When debts get out of control and bills begin piling up, at some point most people would consider bankruptcy. However, you may not need to file for bankruptcy. It’s right for some people sometimes, but it may not be right for you. On the other hand, your particular situation may make you a perfect… Read More »
