You’ve been trying to pay your bills, but ran short each month. And, sometg had to give, so you stopped paying the credit cards. Then, they sued you, and got a court judgment. Now, your boss just got a Wage Deduction Order, or a “brick”
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Archives for Bankruptcy and Foreclosure Questions and Answers
What is Debt Settlement? Is it a Good Way to Avoid Bankruptcy?
People with multiple credit card debts have many options to try to deal with their debts. People naturally want to avoid bankruptcy. So many times, when clients come in to see me, they have already tried debt settlement. This article does a good job of
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Medical Bankruptcy. Is there such a thing?
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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What is an Adversary Complaint in a Bankruptcy Case?
An adversary complaint is really just a legal term for a lawsuit filed in a Chapter 7, Chapter 11 or Chapter 13 bankruptcy case. When you file a bankruptcy case, you are “Petitioning” the US Bankruptcy Court for relief from your debts. In return, creditors
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Chapter 13 Debt Limits as of April 1, 2013—Can I file Chapter 13 Bankruptcy?
When people need to reorganize and repay their debts, they turn to Chapter 13. Chapter 13 Bankruptcy allows people to catch up on house or car payments, and is a consolidation of all personal debts. Sometimes, people have so much debt that they can’t qualify
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Questions to Ask as You Interview a Lawyer for your Bankruptcy Case
When you are trying to decide who to hire to be your attorney for a bankruptcy case, as much as you are trying to figure out what to do, you are trying to see if the lawyer will be the right one for you. Just
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Illinois Foreclosure Help—Talk to a Lawyer Before Filing an Answer in Court!
During the last few years of the “housing crisis”, I’ve seen many people whose houses are in foreclosure. They want to save their house. They get the “court papers”- the Complaint for Foreclosure. So they go to court and try to figure out what to
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Be Careful if you decide to Short-Sell Your house in 2014! Tax Break on Homeowner Mortgage Debt Forgiveness Expired.
Since 2007, when the housing market crashed, Congress created an exception to the normal rule. The normal rule is that if a mortgage lender forgives some of the debt on your house from a short sale or “deed in lieu of foreclosure”, you, the one
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When to Lift the Bankruptcy Stay in Family Law and Divorce Cases
Many times, when people are getting divorced, they are also having debt issues, and possibly bankruptcy may follow. I wrote about the issues that come up when deciding about filing for bankruptcy and divorce in my article: Bankruptcy and Divorce- Getting Through the Maze. But,
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What to do if you Get at 1099-C From a Mortgage Company After Foreclosure and Bankruptcy?
You did everything right. You needed to give up your house because it was under water, and couldn’t short sell it. So, you filed bankruptcy, and let the house get foreclosed on. So, as a result of the Chapter 7 Bankruptcy, you can’t be sued
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