If you fall far enough behind on payments for credit cards, mortgages, medical bills or other debt, a collection agency may step in to recoup losses. The Fair Debt Collection Practices Act (FDCPA) limits the harassing tactics debt collectors can use when trying to...
personal bankruptcy
4 Things debt collectors can’t do
If you fall far enough behind on payments for credit cards, mortgages, medical bills or other debt, a collection agency may step in to recoup losses. The Fair Debt Collection Practices Act (FDCPA) limits the harassing tactics debt collectors can use when trying to...
Rebuilding your credit after a bankruptcy
Individuals and couples alike might struggle with the decision to finally file for bankruptcy. While this decision might represent significant stress relief, there is still work to be done in the future. Depending on your filing and your specific financial situation,...
Rebuilding your credit after a bankruptcy
Individuals and couples alike might struggle with the decision to finally file for bankruptcy. While this decision might represent significant stress relief, there is still work to be done in the future. Depending on your filing and your specific financial situation,...
How debt can damage your health
We often think of our problems as separate, as confined to one part of our lives. It’s so easy for us to forget how intertwined every part of our lives really are. Your financial stressors can bring out pain and stress in other parts of your life, even your health....
Know how the automatic stay benefits you during bankruptcy
Filing for bankruptcy is a way that you can regain control of your finances. This is useful in many cases, such as if you have mounting medical bills, high credit card payments, job loss or a host of other reasons. While there are many benefits to filing, there is one...
How bankruptcy affects one’s finances and job prospects
A bankruptcy filing can affect a person's ability to obtain loan or rent an apartment, mainly because it destroys a person's credit. Illinois residents who are considering filing for bankruptcy might be wondering if it will have an effect on their future job...
Discharge and reaffirmation in bankruptcy
Most residents of the Chicago/Frankfort area look at bankruptcy as a means of shedding burdensome debt. Indeed, the only reason people file for bankruptcy is to get out of debt. Why, then, would a person consider agreeing to continue paying on an obligation that could...
Reaffirming a debt in a Chapter 7 bankruptcy
Most people in Indiana and Illinois file a Chapter 7 bankruptcy petition with the idea that they will ultimately be able to discharge most of the obligations that are causing them financial headaches. Why, then, would anyone want to consider exempting one or more of...
Personal bankruptcy can provide debt relief
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...