In Illinois creditors can get up to 15% of one’s gross wages-not net wages. If those wages are $500 per week gross; net $450: they take $75. The filing of a Chapter 7 or a Chapter 13 bankruptcy can stop wage garnishments. Most lawyers practicing in Consumer Bankruptcy can file a Chapter 7 or Chapter […]
Stop Wage Garnishments Read Post »
Video WagesThere are times when filing Bankruptcy is obvious such as when there is a traumatic event: Wage Garnishment; repossession, law suits, foreclosure, license suspension for parking tickets. For many others there are struggles and doubts. Should I file? Or, should I hold on? Filing for Bankruptcy is an individual decision. All a good lawyer can
File Bankruptcy and Rebuild Your Credit Read Post »
Bankruptcy Credit VideoYou have a clear title to your car, truck or motorcycle and you need money. Title Loan companies will gladly lend you money for a short term loan. But, there is a catch and a big one. The interest rate is high: anywhere from over 100% to 300%. The loan amount can anywhere from 25%
Title Loans – A Good Way To Lose Your Car Read Post »
Automobile Car Title Loans VideoPayday loans in Illinois have interest rates up to 400%. Unbelievable but true. You need $500 for something real fast. Many Pay Day Loan companies have you give them a post-date check. You pay it in a week or so it’s OK. But when you can’t then nightmare begins. Repaying a $500 loan over a
Payday Loans – A Short Term Fix: Long Term Nightmare Read Post »
Loans Payday loan VideoSURPRISING BENEFITS OF CHAPTER 13 Personal income tax debts that are older than 3 years may be discharged. For a fuller discussion see: Can I Discharge IRS Taxes In Bankruptcy? After Chapter 7 discharge there are 2 types of tax that remain: WHAT TO DO? A Taxpayer may be able to deal with the IRS outside
Dealing with IRS Debt that Can’t Be Discharge in Chapter 7 Read Post »
Chapter 7 IRS VideoThe following is a sample of emails or telephone calls that I frequently get. Dear Mr. Adams: I have a lot of bills and can’t get ahead. But, I am afraid if I file Chapter 7 bankruptcy my credit will be ruined for forever. Signed,(name withheld for privacy) Dear ABC, Legend has it that filing
Will Bankruptcy Ruin My Credit Forever? Read Post »
Bankruptcy Credit Credit Score VideoMany people avoid bankruptcy on the belief they can never get a mortgage. That is not true. Actually, the opposite may be true for many good folks. If you have too many debts or have a low credit score obtaining a mortgage is too difficult. To get a mortgage you have to resolve your debt problems. Bankruptcy
How Long After Bankruptcy Can I Buy A Home? Read Post »
Bankruptcy Home Video(Contracts, medical bills, repossession, credit cards, purchases, etc.) Creditors can pursue individuals for a limited period of time. This article sets out some of the more common time limits: THE TIME WHEN THE STATUTE STARTS AND WHEN IT ENDS Attempting to collect a time-barred debt MAY violate the Fair Debt Collection Practices Act, if:
Statute Of Limitation For Debts (Illinois) Read Post »
Statute Of Limitation VideoMan good folks who are deep in debt avoid or defer filing for Bankruptcy. Why? They hear and read lot of misinformation and lies. Special interest groups such as banks fight against filing Bankruptcy. Why? If they can prevent you from filing bankruptcy or delay it they will able to squeeze more money out of
Common Myths And Lies About Consumer Bankruptcy Read Post »
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