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The stress of being in debt is exacerbated if you are also unemployed. How can you repay your loans if you don’t have a steady income? Don’t worry – you still have options. You don’t have to be employed to file for bankruptcy. You can still file without having a job, although it may complicate… Read More »
One of the questions our bankruptcy attorneys hear quite often is whether there’s a certain amount of debt a debtor must accumulate before filing for bankruptcy. The truth is that there is no magic number. We’ve seen clients successfully file for bankruptcy for $10,000 debts and $100,000 debts – and everything in between. It’s up… Read More »
Chapter 7 Bankruptcy is often called “liquidation bankruptcy” because the bankruptcy trustee can opt to liquidate, or sell off, your non-exempt assets to repay your debts. Chapter 7 Bankruptcy is usually a good option for people who have mostly unsecured debt, such as medical bills, payday loans or credit card debt and for people who… Read More »
Filing bankruptcy requires carefully planning with qualified and experienced chapter 7 bankruptcy attorneys to avoid making common mistakes. Although you may be able to correct some minor mistakes, others could prove costly and ruin your chances of discharge — or worse. People filing Chapter 7 bankruptcy in Illinois should avoid these common errors that may… Read More »