Bankruptcy Alphabet—D is for Discharge Order In the world of Bankruptcy, the Discharge Order is the “Holy Grail”. This is what everyone who files a bankruptcy wants to get. You should know what a Discharge Order is, and who can get it. What is a
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Archives for General Bankruptcy Topics
Bankruptcy Alphabet—C is for Credit Counseling
In the bankruptcy alphabet, the C stands for Credit Counseling. When the US Congress passed the Bankruptcy Reform Act of 2005, a major part of the new law was the requirement that Debtors (people who file bankruptcy) complete 2 credit counseling courses. The idea behind
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Bankruptcy Alphabet- B is for Bank Account
Your bank account is your lifeblood. Without it, you can’t pay your bills, withdraw cash, or do most of the things you need to do for yourself and your family. So, how can you protect your money in the bank? It is important that you
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Bankruptcy Alphabet- A is for Attorney
This is a series of blog articles about Bankruptcy that will hopefully educate you about important concepts in an interesting and informative way, the Bankruptcy Alphabet. The first concept is A, for Attorney. Why is having an attorney- a responsive, knowledgeable Bankruptcy attorney so important? First of
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I Want to Give up my House. What is Best for my Credit: Foreclosure, Short Sale or Deed-in-Lieu of Foreclosure?
Take a look about this article: http://tinyurl.com/3jldp3v. The columnist, Michelle Singeltary, from the Washington Post recently wrote about this common question. So many of my clients ask me the same question. Surrendering your home by foreclosure means allowing the bank to go to court and
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Will your Bankruptcy Meeting of Creditors be filled with Tricks or Treats?
As I greet the goblins and ghouls, and other costumed kids on Hallwoeen, I think back to the many Meetings of Creditors that I have represented clients. When you go to this meeting, will you get “tricks” or “treats”? This depends on what you and
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Means Test Figures Falling as of November 1, 2011
Fall is not just a time for changing of the seasons, with the leaves falling off of the trees. It’s also a time that the figures for the State Median incomes change. When you file for Bankruptcy, you are required to have your attorney fill
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Increase in bankruptcy court fees
According to a National Association of Consumer Bankruptcy Attorneys email: The Judicial Conference of the United States adopted a new court fee schedule on September 13, which will become effective November 1, 2011. The revenue generated by the fee change will go into the Judiciary’s
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Can I Keep My Workers Compensation in Bankruptcy?
Generally yes, in Illinois. There are certain rules called exemptions in each state, that allows people who file bankruptcy to protect certain things, like a set amount of equity in houses, cars, and household goods, among other things. Illinois law allows people to protect settlements
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Top Five Reasons Loan Modifications are so Rarely Given
Top Five Reasons Loan Modifications are so Rarely Given 5.. The banks and lenders don’t care: The banks will announce in their ads that they are on your side. They really are not. They are on their side. They have procedures in place, and a
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