Chapter 7 Bankruptcy Discharge of Student Loans in the United States Bankruptcy Court for the Northern District of Illinois Everyone knows that you cannot discharge student loans in a bankruptcy proceeding, right? Well, it would seem that this “common knowledge” may be more of a self-perpetuating myth. In fact, a 2012 study examining 207 bankruptcy […]
Credit card debt piling up? Medical bills unpaid? Collection agents calling non-stop? Losing your home or your car because of unpaid payments? Save what you can!!! Get the relief you need!!! Call us to see how we can help you get a new start and get the relief you need from the weight of all […]
In not too distant past, when the economy was booming and real estate values were sky high, a lot of people took out second mortgages as home equity lines of credit on their homes. Since then, the economy has taken a major beating and most homes lost substantial value, thus placing many homes upside down […]
One of the effective methods used by the Tollway Authority here in Illinois to collect unpaid tolls is by suspending the license plates of the vehicle involved. The tolls are not even the worst part of the total amount because more often than not the penalties and interest drastically increase the amount due. Two ways […]
WHY CHAPTER 13 MAY ALLOW YOU TO PAY OFF YOUR CAR AT A SUBSTANTIAL DISCOUNT It is common knowledge that the value of a new vehicle depreciates by as much as 30% in the first two years. Yet, the balance on the car loan, coupled with the annual interest rate, typically drops at a much […]
In many cases the answer is YES! In the not too distant past, when the economy was booming and real estate values were sky high, a lot of people took out second mortgages as home equity lines of credit on their homes. Since then, the economy has taken a major beating and most homes lost substantial […]
GET YOUR DRIVER’S LICENSE REINSTATED! A proper Chapter 13 bankruptcy filing is a quick and cost-effective method for reinstating a driver’s license that has been suspended for unpaid parking tickets or other financial reasons. Contact our office to see whether such a filing can help you regain your driving privileges.
An effective method in today’s real estate environment (with market prices having declined significantly) to reduce a home owner’s mortgage debt is to discharge said debt in a Chapter 13 bankruptcy filing. This applies to second mortgages, often also called equity lines of credit. In bankruptcy lingo it is called “stripping-off” the mortgage. Essentially, a lawsuit […]