If you are in the northern Lake County area, we can meet you at our new Gurnee office. So you can call to discuss your situation and set up a free first consultation with an experienced bankruptcy and foreclosure defense attorney. We are just east
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Will I likely be sued if I walk away from my foreclosed condo with association fees still due after my bankruptcy?
Question from Avvo.com: Will I likely be sued if I walk away from my foreclosed condo with association fees still due after my bankruptcy? My answer: The Bankruptcy Code (the law) says that you are responsible for any association dues after you file a bankruptcy
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Is a Deed In Lieu a Good Option?
Here is a question I answered about the “Deed in Lieu” option. Deed in Lieu means giving the bank back the house by agreement, right away, instead of making them go through the whole foreclosure process and spending the legal fees required. Question: I can
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Small Businesses: Top 5 Warning Signs of Financial Problems
When small business owners meet with me, they often are so deep into their problems that they didn’t see them sooner. Sometimes, a business owner is focused on keeping the business alive that they continue to run the business at a loss for several years
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Credit Scores- Myths v. Reality
Here is a link to a great article with some tips for consumers. How is your credit score determined? What are the real facts? Important stuff to know, for your financial life now and in the future. http://articles.chicagotribune.com/2013-01-04/site/sc-cons-0103-karpspend-20130104_1_credit-scores-numerical-snapshot-credit-reports If you have questions about Debt and
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Real Estate Taxes and Bankruptcy in Illinois – Recent Court Decisions may help Homeowners
The Background: Most people who get a mortgage on their home pay an “escrow” to the mortgage company or bank. They hold the money in an escrow account to pay the real estate taxes and sometimes the property insurance also. That way, instead of trying
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Which is Better? Foreclosure or Bankruptcy?
Here is a question asked on AVVO.com: Is it better to file a bankruptcy than to have a foreclosure? We bought two houses, one a residential and one was made commercial (for rental purposes) but the second one needed a total renovation and since finances
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I’m Expecting a Tax Refund—When Should I File Bankruptcy?
I’m Expecting a Tax Refund—When Should I File Bankruptcy? This is the time of year when people are preparing to file their income tax returns. Most of the clients I see are expecting, and hoping for, a large tax refund. Ideally, you should not have
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Should You Go to Your Foreclosure Court Hearings?
Here is a question posted on AVVO.com: My 1st court date for foreclos(ure) proceeding (fifth third bank) is March 28, I can not file for a chapter 13 until April 11 do I go? I can’t file for a ch13 until April because I had
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How long does bankruptcy take?
This was a question asked on AVVO, and here is my answer: A bankruptcy case, generally, takes about 5-6 months from the date it is filed to the “discharge” or end of the case, if it is a Chapter 7 Bankruptcy. Other cases, like Chapter
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