I’ve met with hundreds of clients over the 20 plus years that I’ve been a bankruptcy lawyer. And, many times, people ask me to do a “Medical Bankruptcy”. There is really no such thing as a “Medical Bankruptcy”. The term is just a way to
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Married Gay and Lesbians with Financial Problems can now file for Bankruptcy Protection Together
Recently, the US Government announced that same-sex marriages will be recognized in all federal matters, including bankruptcy. That means that married gay and lesbian couples can file for bankruptcy together, in one case. And now, Gay and Lesbian couples can marry in Illinois. Allowing a
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Why it is so Important to Save for Retirement – Prevent Money Problems in the Future
When I think about what to write for the BankruptcyLawChicago Blog, many times, I write about a concept in bankruptcy, or why you might consider bankruptcy, or other financial problems that could lead to bankruptcy. Today, I will focus on a habit that can keep
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Car Loans—Lending Heats up, and So Do Dealer Tricks!
New car dealers are always trying to get their cars off the lot, and on the road. As the economy picks up, you’ll be offered all sorts of loans to get the “car of your dreams”. So many of my clients are forced into bankruptcy
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Obama Extends Student Loan Relief Program- How Does it Help Borrowers?
If you have overwhelming student loan debt, there are some options to try to get the student loan debt under control. I wrote about some of them in my 2012 blog post, “Having Problems Paying Student Loans- You’re not Alone!”. Just recently, President Obama, by
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What Flavor is Your Financial Situation?
Summer is here, and if you want to cool off, you think of ice cream. What flavor do you pick? Vanilla? Chocolate? Rocky Road? Think about your financial situation the same way. Is everyone’s situation plain vanilla, or does the person’s situation come with chips,
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Top 5 Financial Tips for Small Business Owners
By the time many small-business owners see me, they have exhausted any way to stay out of money trouble. But, life happens, and businesses can run into problems along the way. Small business owners may end up getting lawsuits, bill collectors calling, or tax problems.
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What to Do if a Creditor Gets a Court Judgment Against You?
If you’ve been dealing with debt for a while, and you just haven’t kept up, odds are that one or more of your creditors (companies you owe) will get a judgment in court against you. A judgment is a court officially saying that you owe
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Dealing with a Financial Crisis— Don’t Get Payday Loans!
Many clients that I see have tried everything to avoid bankruptcy. And, that’s sometimes a good strategy. But, in their desperation, they go to the modern-day loan sharks- payday and title loan companies. Sounds good, right? Just get some money to tide you over until
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We Can Help You with Student Loan or College Debt—It is Not Hopeless!
In 2012 I wrote a blog article about how difficult college graduates are finding it to pay their student loans. Paying student loans is still one of the biggest problem facing today’s millennials – people in their 20’s and 30’s–right now, is student loans. As
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