Category: Illinois

If you are worried about losing your home to foreclosure, you probably have a lot of questions and may be interested in learning how you can delay or prevent the foreclosure. People in this situation often use Chapter 13 bankruptcy to successfully delay or even prevent a foreclosure. How long Chapter 13 bankruptcy will delay a foreclosure depends on several factors. Simply put, Chapter 13 bankruptcy can at least temporarily....................

If you are worried about a repossession or have recently faced a repossession, you may be wondering how long it stays on your credit report. You may also be wondering how a voluntary repossession works, the pros and cons of voluntary repossession, and how to decide if it’s the right option for you. For the past several years, an increasing number of people have been feeling extreme financial pressure. American consumers continue to....................

Mortgage delinquencies are rising, which signals growing financial strain for homeowners across America, especially those with FHA-backed loans. FHA (Federal Housing Administration) loans, which are designed to help first-time and lower-income homebuyers access homeownership, now have the highest rates of delinquency among all types of home loans. While these loans offer flexible credit requirements and low down payments....................

Car repossessions are on the rise across the United States, leaving many drivers without reliable transportation and facing the fallout of damaged credit and mounting debt. For families already struggling to keep up with rising prices, job instability, or medical expenses, the loss of a vehicle can feel like a devastating blow, especially when it disrupts daily life, employment, or access to childcare and healthcare ....................

Receiving a foreclosure notice can be an overwhelming and emotional experience. The thought of losing your home can be an overwhelming and emotional experience. People often feel panicked, especially if they are unsure of their rights and what they should do next. A foreclosure notice is the beginning of a legal process, but it’s important to know that you have several opportunities to protect your home and explore ....................

Wage garnishment can feel like a financial nightmare. When a portion of your paycheck is withheld to repay a debt, it can create a cycle that is hard to break, especially if you are already struggling to cover basic living expenses. If you're in this situation, you may be wondering whether credit counseling can stop wage garnishment. It’s important to know that credit counseling alone does not automatically....................

The student loan crisis in America is staggering—over 42 million borrowers, nearly $1.8 trillion in outstanding debt, and countless lives burdened by payments that never seem to end. For years, borrowers have been told there’s no escape. “You can’t get rid of student loans in bankruptcy.” That statement, repeated endlessly by the media, financial advisors, and even attorneys, has effectively become gospel....................

Owing back taxes to the IRS can be overwhelming, in part because interest and penalties accumulate rapidly; what starts as a manageable balance quickly grows into a serious financial burden. For most people, paying the full amount of back taxes simply isn’t feasible. Fortunately, the IRS provides several tax forgiveness programs aimed at helping taxpayers resolve their debt and avoid harsh collection....................

For homeowners facing financial challenges, a loan modification can be a lifeline. Modifying your mortgage can create a more affordable path forward instead of losing your home to foreclosure or struggling with unmanageable monthly payments. However, it is important to understand the different types of loan modifications and ultimately choose the right solution for your specific situation....................

Losing a job is one of life’s most destabilizing experiences. In an instant, your financial foundation can feel like it’s crumbling—and the pressure to keep everything afloat starts mounting quickly. As a bankruptcy attorney who's helped thousands of people navigate financial distress, I want to offer a perspective you won’t often hear from the mainstream narrative. While studies often cite...................