Residents of northeastern Illinois and northwestern Indiana are often told that bankruptcy can protect them from creditors' collection attempts, but the exact mechanism of this protection is not always clearly explained. An understanding of a process called the "automatic stay" can help individuals decide whether filing a petition for personal bankruptcy will provide adequate debt relief and perhaps even save their homes from foreclosure.
One of the most common transactions in city of Chicago and its suburbs is the billing and paying for water usage. These transactions are rarely questioned, and the bills are mostly paid on time and in full. That is, until a group of Tinley Park residents became suspicious of the amounts being charged by the municipal water authority and charged the city with consumer fraud.
Parents considering divorce know that they are going to have to work out a child custody agreement. The tone for this process is often set early in the split. While the adults know that the children enjoy having both parents at home, there are often reasons why the marriage just won't work.
Most individuals who live in northeastern Illinois and northern Indiana have heard about "living wills," but not everyone understands this legal term. A "will" is considered by many people to be a written document that directs the disposition of a deceased person's assets following that person's death. "Living wills," on the other hand, serve a different purpose: to express a person's wishes about end-of-life medical care and living circumstances. For this reason, these documents are often referred to as "end-of-life directives." Both Illinois and Indiana have enacted statutes that authorize living wills, but the two statutes differ only in detail.
Any resident of Indiana who is contemplating filing a petition for bankruptcy should be aware of the effect of exemptions from the claims of creditors that are provided under state law. The Indiana legislature has identified certain kinds of assets that cannot be claimed by creditors. While these exemptions apply to all creditor-debtor relationships, they are most effective in an individual bankruptcy proceeding.
Indiana residents will frequently face financial challenges that leave them wondering how they will get on stronger footing. This can happen for a variety of reasons, including job loss, medical debt, overspending, divorce and more. Regardless of why it happened, it is imperative to remember that there are alternatives to find debt relief. Being in financial trouble does not need to dominate a person's life. Understanding that there may be ways to clear the debt - even if that means personal bankruptcy - is a key factor in taking that next step and getting help.