Not being able to pay your bills as they become due lowers your score dramatically to the lower 500s, sometimes the 400s. If it is multiplied with a lawsuit, a garnishment, repossession, multiple items with the credit bureau, your score goes down dramatically. If you get rid of all those debts, you start from scratch, […]
How Does Filing Bankruptcy Have Favorable Impact on Credit Score Read Post »
Bankruptcy Credit Score VideoAfter the filing of the case the first motion usually filed is for a Cash Collateral Order. Generally there is property that will be used for the business that generates revenue. If the property has been used to secure a loan the creditor must be given Adequate Protection. For instance, if Accounts Receivables have been
What Is Cash Collateral And The Use Of Secured Property? Read Post »
Bankruptcy Cash VideoA chapter 13 is a form of a repayment plan. Certain debts have to be paid 100%. Other debts like credit cards can generally be repaid at a fraction of the amount due, such as maybe just 10%. WHAT ARE THE REQUIREMENTS TO FILE FOR A CHAPTER 13 BANKRUPTCY? In addition to the requirements for
What Is A Chapter 13 Bankruptcy? Read Post »
Bankruptcy Chapter 13 VideoCAN I FILE A NEW BANKRUTCY? CHAPTER 7 OR CHAPTER 13? This is a general outline provided by ROBERT J. ADAMS & ASSOCIATES. Offices in Chicago and Waukegan, Illinois The primary practice of ROBERT J. ADAMS & ASSOICATES is Chapter 7 and Chapter 13 Bankruptcy. This article is only about timing: not whether you can
Can I File a New Bankrutcy? Chapter 7 or Chapter 13? Read Post »
Bankruptcy Chapter 13 Chapter 7 VideoA few years ago we helped a woman who was in a wheelchair and housebound to file Chapter 13. Most of the work was done over the phone. Then I went to her house to get signature, etc. Then I had an unusual experience with a gentleman was incarcerated awaiting trial on a serious matter.
Remote Filing Bankruptcy Read Post »
Bankruptcy COVID-19 Remote VideoTHERE ARE 2 TYPES OF QUESTIONS THAT PEOPLE RECEIVING BENEFITS ASK As to the first question, receiving benefits such as Social Security, Unemployment, or Worker’s Compensation the answer is ”YES.” Receiving benefits is not a deterrent to filing a case. SHOULD YOU? THAT IS MORE OF AN INDIVIDUAL DECISION. First, you should know: private creditors
Social Security, Unemployment, Worker’s Comp and Bankruptcy Read Post »
Bankruptcy Social Security Unemployment Video Worker's Comp
RED LIGHT AND CAMERA TICKETS Can Chicago Parking tickets be eliminated in Chapter 7? Yes, based on conditions. PREFACE: As general rule parking tickets and debts to the Illinois Tollway Authority cannot be discharged in Chapter 7. However, the City of Chicago has carved out an exception. The City of Chicago will waive or eliminate certain
Chicago Parking Tickets and Chapter 7 Bankruptcy Read Post »
Bankruptcy Chapter 7 TicketsYou decided that filing Chapter 7 is in your best interest. To effectively file your case various information and documents are needed. The following is a brief outline: I know that this seems like a lot but most folks have everything and we do help you. Almost all cases go smoothly and you get your
What Do I Need to File Chapter 7 Bankrutcy? Read Post »
Bankruptcy Chapter 7 VideoThe Law Firm of Robert J. Adams & Associates remains open. Even with the COVID-19 pandemic we are helping people file Bankruptcy. Also, the Bankruptcy Courts remain open. The Bankruptcy Court and our law firm has adapted to the new reality of the COVID-19 pandemic: CAN I STILL FILE BANKRUPTCY? YES. With this pandemic your
Filing Bankruptcy During the Coronavirus Crisis Read Post »
Bankruptcy COVID-19 Video
The pandemic has been a serious blow to all our lives. Good folks are seeing their work hours reduced, their wages lowered, or facing unemployment. This causes financial stress and even emotional distress. Many family businesses have closed their doors for good. When you struggle with bills and start missing payment — your creditors don’t
Does Bankruptcy Stop Creditor Calls? Read Post »
Bankruptcy COVID-19 Credit Score