A Helpful Guide When Considering Filing Bankruptcy
A Helpful Guide When Considering Filing Bankruptcy Read Post »
Bankruptcy Video
Foreclosure, Chapter 13, Mortgage Modification an Effective Foreclosure
When a Mortgage Company files a Foreclosure, it essentially has one objective: To sell your house at a sheriff’s sale to themselves or a 3rd party bidder. The result is the same: YOU LOSE YOUR HOUSE! What to Do? Chapter 13. There is the tradition Chapter 13 to save your home, and now a second way
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Chapter 13 Foreclosure Mortgage Video
Automobile Loans and Chapter 7
The common question is “Will I lose my car?” It is certainly a reasonable concern.This guide goes over the three (3) legal options plus two (2) alternatives. Reaffirm the Debt Essentially, you agree that the debt goes on after the bankruptcy with the same contract terms. The finance company retains its lien, and you will
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Automobile Car Chapter 7 Loans Video
What to do When Your Car is Booted
When you went to your car you found the city has installed a boot on the front wheel. What is going on? And, what can you do? WHEN DOES THE CITY BOOT A CAR The city of Chicago aggressively seeks to “boot” cars. In fact, they have specially equipped vehicles that can read license plates
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Automobile Car Video
Driver License Suspensions In Illinois And Possible Solutions
The Illinois Secretary of State can and does suspend individual driver’s licenses for various reasons. For many it is impractical to deal with the problem directly. A frequent method of regaining one’s driving privileges is filing a Chapter 7 or a Chapter 13. MY DRIVER’S LICENSE HAS BEEN SUSPENDED. I WANT AND NEED MY DRIVER’S
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Automobile Bankruptcy Car Chapter 13 Chapter 7 Video
Auto Loans in Chapter 13
If you are wondering how automobile loans are handled when you file a Chapter 13 bankruptcy, here are the main points to consider including what to do if the car has been repossessed. HOW TO PAY FOR A CAR IN CHAPTER 13 Generally folks considering filing Chapter 13 are concerned about how their auto loans
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Automobile Car Loans VideoHomestead Exemptions In Illinois
WHEN HOMEOWNERS ARE CONSIDERING FILING A CHAPTER 7 OR A CHAPTER 13 THEY ARE NATURALLY CONCERNED ABOUT THE FATE OF THEIR HOME. WILL I LOSE MY HOME? Illinois is one of many states that have their own exemptions for homeowners rather than using the federal bankruptcy exemptions. The homestead exemption in Illinois is $15,000 for an individual
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Home VideoEliminating 2nd Mortgages Also Called Stripping or Cramming Down
WOULDN’T IT BE NICE TO GET RID OF A 2ND MORTGAGE AND SAVE THOUSANDS OF DOLLARS? Homeowners and other property owners often discover that their property’s market value is less than the balance of the first mortgage. On top of that many have second mortgages and/or Home Equity Loans. How do you keep the property and
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Mortgage Video1099-C: Tax Consequences of Forgiven or Settled Debts
The IRS requires creditors to issue a 1099-C form to individuals who have had their debts forgiven or settled for less than the amount owed. It applies to debts in excess of $600. www.irs.gov I don’t owe the money but now the IRS is sending me a huge tax bill!! What’s going on and what can
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1099-C Taxes VideoTransferring Or Selling Assets Before Filing Bankruptcy
Frequently, individuals ask about giving property away, such as a car, just before filing a Chapter 7. These transfers not only fail to help the bankruptcy process, the transfers might be unnecessary with the right legal advice. THE PROBLEM WITH LAST MINUTE SALES AND TRANSFERS Maybe an individual has a car worth $15,000 that they
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Debt Video