I was recently appointed to the Panel of Chapter 7 Trustees for the Northern District of Illinois, and am hearing my first cases as Trustee. Even though I have been a practicing attorney in the US Bankruptcy Court for over 30 years, representing Debtors and
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How Bankruptcy Can Help Small Business Owners Eliminate SBA Loan Liability
I have met with many small business owners recently who have been trying to dig out from their financial troubles starting during the COVID-19 crisis. Some have yet to recover, and, even after a lot of hard work and effort, just can’t keep going.
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Your Bankruptcy and Its Effect on a Cosigner: Why It Shouldn’t Hold You Back
Facing financial hardship and contemplating bankruptcy can be a daunting journey. This is a very common concern. If a friend or family member cosigned a loan for you, it’s natural to worry about how your bankruptcy might affect them. However, the impact on your cosigner
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How Tax Refunds Impact Filing for Bankruptcy in Illinois
It’s that time of year again!! Income Tax Return fime!! Remember, the Tax Return is the set of documents you file with the IRS and State, and the Tax Refund is the money you receive if you overpay that year’s taxes. Every bankruptcy client is
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Persistence Pays off in Chapter 13 with Student Loans
There are many strategies on how to deal with Student Loans in Bankruptcy. One of them is to try to file an Adversary Complaint to try to discharge the loans, based on the “undue hardship” standard. (the “Bruner” standard) Courts have had varying interpretations, and,
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How Bankruptcy Can Help with Overwhelming Medical Bills
One of the most common kinds of debt that I see when people consult with me is medical debt. Medical bills can quickly become overwhelming, especially when unexpected health issues arise. Even with insurance, the out-of-pocket costs can be substantial, leading many to seek relief
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The Current Status of the SAVE Student Loan Program Amidst Pending Lawsuits
Here at StudentLoanLawChicago.com, we have been helping people get into the best possible Income Driven Repayment Plan for their Federal Student Loans, and on the path to getting their loans forgiven. Contact us HERE for more information on YOUR loans. The Saving on a Valuable
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The Risks of Delaying Bankruptcy: What Can You Lose?
Financial difficulties can be overwhelming, and the decision to file for bankruptcy is never an easy one. However, delaying this decision can often lead to more problems. This post aims to shed light on the potential issues that debtors may face if they postpone filing
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Deadline Extended: Consolidate Federal Student Loans by June 30th
Don’t Miss Out on Loan Forgiveness Opportunities At BankruptcyLawChicago, we keep you up to date on all of the latest ways for you to save money on your Student Loans, and get them forgiven sooner! The Biden-Harris Administration has just announced an extension to the
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How to Take Control of Your Federal Student Loans and Get Them Forgiven!
What is next for Federal Student Loan Borrowers? Repayment is in full swing, and borrowers can get their loans under control and closer to forgiveness than ever before. These plans apply to Federal loans for the student and parents. I am here to help with
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