Generally, in Illinois, when you are married, the debts your incur together with your husband or wife are debts that both of you are responsible for. The Illinois Family Expense act says that debts incurred for the welfare of the family are the responsibility of
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Archives for Bankruptcy and Foreclosure Questions and Answers
How Much Does a Bankruptcy cost?
This is one of the most frequently asked questions that I get each day. When people are looking for an attorney to do something, they are thinking that it is like any other service, like a haircut or oil change, or to fix a leaky faucet.
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What about those “Strategic Defaults”? Should I do that?
In the Chicago Tribune recently(see the link above) the writer suggests that the issues facing homeowners who are “underwater” on their house value are whether it is moral to just walk away from a house that they supposedly can afford. The author mentions this as
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My business has lots of debt and loans, can just the business file for bankruptcy protection?
The answer to this question depends a lot on how you set up the business, and how you got financing for the business. Most small business owners set out to create their dream, to follow their passion, or just to be their own boss. If
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What do I need to bring to my appointment?
So, you’ve called your bankruptcy lawyer and set up an appointment. Many bankruptcy firms, including our firm, offer free first appointments. It’s a free appointment, you say, so why do I need to bring anything in? Think about it this way, time is money. You
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What do I need to know before I call a bankruptcy attorney?
Many people I speak to each day call me about their financial problems, but have no idea what to expect from a bankruptcy attorney. The typical situation is this: Person calls and says, I need help with a bankruptcy. I ask: Who do you owe
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