Understanding And Carefully Exercising Your Rights As A Debtor It is totally understandable to become frustrated and even incensed when you are bombarded by debt collectors. It is common to receive a flurry of phone calls, letters in the mail, and even in-person visits at your home when creditors seek to collect. If you have multiple debts simultaneously, the problem…Read More
Understanding Your Rights As A Debtor No one wants or likes having debt. If you had the capital to pay off your debts, you almost certainly would. Not paying it means being hit with late fees, interest, and, eventually, even more serious penalties. Why, then, do collection agencies and debt collectors put so much energy into convincing you to pay…Read More
Image by cdz from Pixabay If you are considering filing for Chapter 7 bankruptcy, you might be worried about how that will affect your possessions. The good news is, car loan lenders are not allowed to repossess your car or even try to collect on your outstanding balance once you file for Chapter 7 bankruptcy. In fact, their only recourse…Read More
Understanding The Role Of The Means Test In Bankruptcy Filing for bankruptcy can help you navigate situations where you are drowning in debt. The first step of that process is determining which type of bankruptcy you should be filing for, a process that typically requires determining your eligibility. The Illinois Means Test is meant to assess your ability to at…Read More
Helping You Understand The Truth About Bankruptcy Bankruptcy can be a scary concept to some people, but the truth is it is a powerful financial tool that has enabled countless Americans to manage their debt and build better financial futures. Still, numerous myths about supposed dangers or pitfalls of bankruptcy persist, unfortunately keeping people who might benefit from the institution…Read More
When you owe more than you can pay, the burden is not just financial. It can interfere with your mental health, prevent you from taking care of your loved ones, and keep you from living the life you deserve. The last thing you should do, however, is wait it out and hope that your luck changes for the better. As…Read More
Are you struggling with impossible levels of debt? Bankruptcy may be the solution you need. Every year, hundreds of thousands of Americans use it to discharge enormous amounts of debt. But navigating this process is not easy, and you’ll need to make many decisions along the way that could play a role in the outcome for both you and your…Read More
Is your company struggling to stay afloat? If so, you aren’t alone—especially today. Due to COVID-19, businesses of all sizes are enduring a tumultuous market and severe economic upheaval. Unfortunately, not every business will survive these challenges. In many ways, 2020 is a turning point, and the businesses that can adapt quickly are the ones that will most likely thrive…Read More
Image by Gerd Altmann from Pixabay Previously, we wrote about common credit reporting questions and answers and noted that errors can occur. Obtaining your credit report once per year is free, and your score determines how easy or difficult it can be for you to work with lenders. Credit reports contain personal identification information, financial accounts, public records, and the…Read More
Chapter 7 is the simplest, fastest form of bankruptcy, discharging filers’ debts within a matter of months. But there’s a catch—the trustee may seize and sell your property in something called a liquidation process. Fortunately, every state has a list of bankruptcy exemptions. A bankruptcy exemption is a type of property or amount of funds that you can shield from…Read More
