Tag Archives: Bankruptcy Indiana
This Is The End?
A prominent financial planner has advised the city of Chicago and state of Illinois to file bankruptcy and start over, because their financial problems are completely overwhelming. Former FDIC head William Isaac said that now may be a good time to seek Chapter 9 protection, because the city and state are in “dire financial… Read More »
The Trustee Is Not…
Indiana and Illinois both have rather generous bankruptcy exemptions, so most debtors get to keep their homes and retirement accounts, even in a Chapter 7. However, ancillary assets like rental houses or second vehicles are sometimes more difficult to protect under either the standard or wildcard exemptions. Sadly, some people do not file necessary… Read More »
Protecting Cash In Bankruptcy
Both Illinois and Indiana have wildcard exemptions that can be used on any otherwise non-exempt property, like savings accounts, rental property, vacation homes, boats, and so on. Although the dollar values are relatively high ($4,000 in Illinois and $9,350 in Indiana), they may be insufficient to cover a large amount of inherited cash, which… Read More »
Student Debt Relief Scams
Are you struggling to make your monthly student loan payments? If so, you are not alone. Young Americans are carrying an unprecedented amount of student loan debt and many borrowers are having a hard time keeping up with their loan payments. Unfortunately, scam artists are capitalizing on this situation by running ads offering student… Read More »
Bankruptcy Filings Down 6 Percent Across The U.S., Yet Many Bankruptcy Petitions Still Being Filed In Illinois
Now that the first half of 2016 has come and gone, analysts at the American Bankruptcy Institute (ABI) have surveyed American bankruptcy trends over the last six months and have released their findings. The ABI reports that between January 1st and June 30th of this year the total number of bankruptcy filings in the… Read More »
