As a Bankruptcy Attorney with over 35 years of experience helping people in debt, one of the most common questions I hear is: “If I file bankruptcy, will I lose my house?” Fortunately, for many Illinois homeowners, the answer is no. In fact, bankruptcy is
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Archives for Asset protection
Bankruptcy Success Stories- Saving the Family Restaurant and Home
When most business owners think of Bankruptcy, they are thinking that is the option of last resort, when everything is going “down the tubes” so to speak. But, in reality, Bankruptcy offers many ways to reorganize debts and save the business. The main way that
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Small Businesses- If Coronavirus hit You Hard, Relief is Here!
With the COVID-19 Virus spreading, and Stay at Home Orders in place in Illinois and most other states, Small Businesses are reeling. On March 27, 2020, the President signed the Coronavirus Aid and Economic Security Act, or CARES Act. This Act is here to help
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Workers Compensation Settlements and Bankruptcy- UPDATE
If you live in Illinois and get hurt while working, you have the right to make a claim for those injuries through the Workers Compensation system. If you go through the process, many times, your claim will be enough to pay your medical bills, plus
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DEBT SETTLEMENT- DEBT FREE? OR NOT?
When people come to see me with debt problems, they are under enormous stress. You’ve already tried everything. Very few people are anxious to “throw in the towel” and just file for Bankruptcy. I talk with people who have tried for years, decades sometimes, to
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Small Business Loans=Shark Infested Waters
Small Business Owners-Watch out for the Sharks! Small Business owners have so many “hats” to wear. One expression is that the owner is “Chief, Cook and Bottle Washer”. So, with all of those roles, it’s difficult to manage everything. One of the hardest jobs is
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What happens to a Mortgage in a Chapter 7 Bankruptcy? Will I need to reaffirm that debt?
When you file for bankruptcy protection, you, as the Debtor, are required to list every debt you owe. That’s right, EVERY debt. Even if you want to keep paying the debt, the bankruptcy trustee, and the Bankruptcy Court, need to know which companies you owe.
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Water Bills in Chicagoland – Are you getting soaked?
Water Bills Soaking You? We Can Help! Over the years of talking to homeowners from all over the area, it was amazing to see the difference in prices people pay for water! Some people’s bills are $20-30 per month and others are close to $100/month.
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The Taxi Cab Medallion Foreclosure Crisis in Chicago- What Can Drivers Do?
The ride share boom from Uber, Lyft and other app services is the latest industry disrupter to strike in the U.S. The taxi industry in Chicago has been hit especially hard. In order to drive a licensed taxi in the City of Chicago, the taxi
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Entrepreneur Bankruptcy — Not a Failure
I’ve written blog articles about warning signs for business owners, and what to look for, when things get tough. Most business owners don’t look for signs that things are getting tough. They dig in, and keep going. Why? In reality, business owners are, at heart,
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