My how time flies. And it never ceases to amaze me how many of my clients get into trouble helping other people. Most times it is a mother helping her children or grandchildren…..letting them use the credit cards…..or cosigning for a car loan. Trouble is bad things can happen to even the most well intentioned. [...]
Well, only you can decide that question. Perhaps with the help of an attorney or other counselor, you can help make your decision. What factors should you think about? Here are some ideas to get you thinking………How much debt are you in? Can you realistically pay it off over a reasonable amount of time? What [...]
Chicago Bankruptcy Attorney discusses "How will Bankruptcy Affect my Future Credit?" One of the most frequent questions I receive is how will Bankruptcy affect my future credit? It is true that credit records are very important and getting more important every day. Many employers have started requesting credit reports, and certainly credit is necessary to [...]
Chicago Bankruptcy lawyer help you understand about Increasing Your Credit Score After Bankruptcy The goal is to get back in the game — the game of credit. But to do that, you must increase your credit score. The first rule to get a higher FICO score is to pay your debts on time. Without that, you will [...]
I am amazed each and every time how nervous people are to come to their bankruptcy “court” date, or what we call the Section 341 hearing. (named after the section of the bankruptcy code) I tell my clients it is formal, even though it is not in a Courtroom, but that there is nothing to [...]
Chicago Bankruptcy Attorney discusses - How To Stop Harassing Phone Calls? Calls from debt collectors can be extremely distressing and although Chapter 7 and 13 filings can put an end to collection attempts, there are also other types of unwanted calls that you may be receiving: unsolicited telemarketers. The Do Not Call Registry (DNC) from [...]
One of the main reasons Congress changed the bankruptcy laws so dramatically in 2005 was to curtail bankruptcy fraud. Congress was concerned that there were too many people filing too many bankruptcies who didn’t deserve to, i.e. they could afford to pay their debts, at least something. Congress also felt that there was too little [...]
Chicago Bankruptcy Attorney Discusses Debts, Credit, foreclose and Mortgage. Nowadays, it seems that everyone I meet is “upside down” on their home. What does that mean? It means that they owe way more than their home is worth. And the really sad thing is that it may take years for values to catch up. For example, when [...]
IMPOSSIBLE, to wipe out, or just about….you might if you are permanently disabled…..Recently a court refused to allow the discharge of $300,000 plus in student loans for a young lawyer earning under $50,000 stating that it was NOT an undue hardship on this young lawyer to pay back these loans…and that he was intentionally not [...]
As you may already know, I am a Chicago Bankruptcy Attorney, practicing for over 35 years in City of Chicago and its suburbs. One of the most common questions I hear is about employers requesting credit reports from prospective employees. Illinois residents have some degree of protection. Illinois law prevents employers from inquiring about a [...]
There is a common misconception among credit consumers that if they simply “pay their bills on time,” they will automatically have a high credit/FICO score — this is not the case. Although timely payments are a significant factor in determining an overall credit score, there are other factors that play a roll as well. Undertand [...]
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