Joliet Bankruptcy Lawyer States “You Need Not Struggle Anymore”

According to Joliet Bankruptcy Lawyer, David Siegel, Joliet has always been a tough, blue-collar, hard-working town in Will County, Illinois. When times are tough in the state of Illinois, they are especially tough in Joliet. And times have been really tough lately. The housing market has not recovered in this area. The job market certainly has not recovered in this area. People are paying more for food, clothing, gas and they are taking home less. This type of climate leads one to explore other avenues of credit. These include credit cards, payday loans, title loans, unsecured loans and borrowing from friends and family. What we are looking at is a perfect storm leading to + Read More

Interesting Development in Some Chapter 13 Bankruptcy Cases

When the bankruptcy laws were changed on October 17, 2005, there was an effort to curb abusive filings. To do so, a means test was authored utilizing IRS standards for acceptable expenses. In addition to the means test, there were requirements such as having completed a credit counseling session before a case can be filed and financial management instruction completion before a case can be discharged. There were also measures aimed at curbing repetitive filings. This all centered around the creation of and the existence of the automatic stay. If someone was filing a chapter 13 bankruptcy within one year after a prior case was dismissed, then the automatic stay would only last in the new + Read More

There Are Different Types Of Bankruptcy

It’s easy to be confused when talking about the different types of bankruptcy. Most people are aware that bankruptcy is a way to eliminate debt. What they are not sure of, is whether it’s really in their best interest to file at all. There are some cases where it’s a tough decision. The person may be getting by, but struggling. The person might feel that there is no relief in sight if they continue down the same path month after month making minimum payments on credit cards. For others, they have no choice but to file bankruptcy. They may be garnished and a creditor is taking 15% of their net take-home pay. In other cases, a bank account might be frozen prohibiting that person from making + Read More

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