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American Consumer Family Debt Facts

Debt in America Did You Know? The average American family never pays off its credit cards. The average family carries at least $4,300 in credit card debt for more that 20 years,. The average American family carries more that $170,000 in … [Read more]

Top 6 Tips for a Successful Chapter 13 Bankruptcy

[h1]Top 6 tips for a successful Chapter 13 Bankruptcy[/h1] Chapter 13 bankruptcy is hard.  Over the last twenty years as an Illinois bankruptcy attorney I have seen many succeed and many fail. A lot of the time the difference between success and … [Read more]

Stop Creditors Cold with the Automatic Stay!

Stop Creditors Cold with the Automatic Stay! The minute your bankruptcy petition is filed, the the automatic stay goes into immediate effect and stops creditors from attempting to collect debts. No more harassing phone calls at all hours of the … [Read more]

Pre-bankruptcy Shopping Spree and Discharge

Pre-bankruptcy Shopping Spree and Your Discharge It might be tempting to go shopping and max out your credit cards right before you file bankruptcy. Why not, you are going to discharge everything anyway - right?  And besides, credit card companies … [Read more]

Mortgage Modification Illinois: Home Loans From Hell by Dan Rather

Mortgage Modification in Illinois Thinking of mortgage modification in Aurora, Illinois?  Watch this video by Dan Rather Mortgage Modification Illinois: Home Loans From Hell by Dan Rather Mortgage modification  Illinois is a hot topic lately. … [Read more]

How Long Will Bankruptcy Screw Up My Credit Rating?

Your credit score should not be your primary concern when you file bankruptcy in Illinois. Your credit score is very likely already poor and bankruptcy can only help it, not hurt it. However, I hear it all the time.  "How long be before I can get … [Read more]

Business Debt and the Means Test

Business Debt and the Means Test If your debts are 51% business related you probably can file chapter 7 bankruptcy. Business Debt and the Means Test. Is more than 51% of your debt business related?  Do or did you own investment real estate or owe … [Read more]

Bankruptcy Planning Illinois

Bankruptcy Planning: Pre-bankruptcy Do's and Don'ts Are you considering fling bankruptcy in Illinois? Do you have questions about what is ok and not ok to do prior to filing chapter 7 or chapter 13 bankruptcy? Read the list below and be sure you … [Read more]

Meet Bankruptcy Lawyer Before Creditors Meeting?

"Should I meet my bankruptcy lawyer before my creditors meeting?"  Absolutely! I am often amazed during bankruptcy creditor meetings (341 meetings) where it becomes obvious that the debtor(s) is not sure who their bankruptcy lawyer is, or … [Read more]

Don’t Touch That 401(k)

Don't touch your 401(k) if you are planning bankruptcy. In my Aurora Illinois bankruptcy practice I regularly meet with clients who have been struggling to make ends meet for months or even years.  These clients would do anything to avoid filing … [Read more]