Category: Illinois | Chapter 7 - page 2

In some cases, a creditor can garnish your bank account without providing advance notice. However, if your bank account is garnished, your bank will notify you after the order is received and your account is frozen. The bank must comply with the court's order before it notifies you, meaning your funds will be inaccessible when you receive the notice. You will receive a notice with details on your right to claim exemptions and contest.......................

People sometimes think if they can’t afford to make their monthly payments, they can’t afford a bankruptcy attorney. However, this most often is not the case, and it’s important to understand the pros and cons before trying to file bankruptcy yourself. What does filing bankruptcy without a lawyer actually mean? Many people know it is possible to file bankruptcy without an attorney, but may not fully.......................

If you are considering taking out new debt or struggling to manage your existing debt, you may be wondering what the difference is between secured and unsecured debt. Knowing the difference between secured and unsecured debt can help you protect your assets and your family if you are short on cash. What is secured debt and how does it work? Simply put, secured debt refers to the money.......................

Understanding how long the repossession process takes is critical to preventing it or mitigating the damages if your vehicle is repossessed. If you are worried about repossession, you should know that a repossession can happen faster than most people think. Once your car is repossessed, the clock is ticking, and you’ll need to act quickly.Car repossession process: Meaning If you are in danger of having your car repossessed, you are rightfully worried about what’s going to happen. You’re likely wondering exactly how long the......................

In a recent Bloomberg article published August 5, 2025, the economic alarm bells started ringing loud and clear: more Americans are behind on their student loans than at any time in over two decades. In the second quarter of 2025 alone, 12.9% of all student loans became 90 days or more delinquent - a record high since the New York Federal Reserve began tracking the data 21 years ago.......................

If you recently purchased a new vehicle or are thinking about getting a new car, you might be wondering about the pros and cons of Guaranteed Asset Protection, also known as GAP or GAP insurance. This blog will explain the meaning of GAP, how it works, and who could benefit. Guaranteed asset protection: Meaning Guaranteed Asset Protection (GAP) is sometimes called GAP coverage or GAP insurance; it is an optional insurance coverage offered as a supplement to an auto, motorcycle, boat, ATV, or RV loan. ......................

If you’re considering filing for bankruptcy, it’s important to understand the different bankruptcy chapters so you can make an informed decision. The three main types of bankruptcy are Chapter 7, Chapter 11, and Chapter 13. Each chapter has different requirements and rules. Ultimately, choosing the right chapter of bankruptcy will depend on your assets, types and amounts of debt, as well as......................

If you are being harassed by debt collectors, you may be wondering if this will last forever. The good news is that there is a statute of limitations on debt collection, and once that expires, you cannot be sued for that debt. It’s important to understand your rights and avoid making a costly mistake that could revive old debt or restart the clock on the statute of limitations.....................

Beginning in July 2025, the Social Security Administration (SSA) will begin withholding up to 50% of monthly benefits for certain recipients who received overpayment notices dated April 25, 2025 or later. This marks a significant shift from the current withholding policy and has understandably caused confusion and fear for many beneficiaries, especially older adults and those on fixed incomes.....................

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....................