Very few, if any, of us like to think about death. Instead, we want to focus on the life that we're living, putting our full effort into living in the moment. Yet, death will find us all. Although we don't have control over that fact, we can control what will happen to our assets upon our passing. Estate planning can not only provide an individual with peace of mind, but it can also ensure that his or her beneficiaries receive what he or she wants them to receive without the matter being contested in court.
Although the economy seems to be recovering, far too many Americans continue to live paycheck-to-paycheck. These individuals are just one unexpected life event away from facing financial ruin. Being in this position can be extremely stressful, and when one of those life events occurs, they may find themselves overwhelmed with no idea how to resolve their financial difficulties. This often happens when an individual is hit with unexpected medical expenses.
The Great Recession left many Illinois families on hard financial times. Unemployment in and of itself left many without the funds they need to make ends meet. Thus, many of these individuals and families had to turn to credit cards to stay afloat. Although the nation has steadily climbed out of the recession, many Americans continue to see themselves overwhelmed with credit card debt.
On July 1, a new child support model went into effect for child support cases in the Illinois. The new model doesn't automatically apply to child support orders that were issued prior to the July 1 start date, so if you already have an order, you should continue to follow it.
Previously, this blog discussed some of the drawbacks of Chapter 13 bankruptcy. We hope that you found it informative and helpful as you try to figure out how best to deal with your overwhelming burden. Regardless of which approach you choose, Chapter 13 or Chapter 7 bankruptcy, you need to ensure that you are taking all the steps you need to in order to successfully navigate your bankruptcy plan. If you fail to do so, then you could be at risk of a failed bankruptcy, meaning you will not be able to obtain the debt relief you seek.