Here at Shenwick & Associates, the magic word for our debtor bankruptcy clients (we represent creditors, too) is "discharge." When a debt is discharged in bankruptcy, the debtor no longer has any personal liability for the debt and the creditor can no longer communicate with or take legal action against the debtor for the debt. This is the primary reason why debtors file for bankruptcy.

Here we go again. Every twenty years this country suffers through a serious financial crisis, usually based around real estate lending. Why? Because of bad lending practices. Why are there bad lending practices? Because Congress keeps softening or eliminating mortgage lending regulations.

Here we go again. Every twenty years this country suffers through a serious financial crisis, usually based around real estate lending. Why? Because of bad lending practices. Why are there bad lending practices? Because Congress keeps softening or eliminating mortgage lending regulations.

As part of a modernization effort that began in 2008 that is being spearheaded by the Advisory Committee on Bankruptcy Rules, most official bankruptcy forms are being replaced with revised, reformatted and renumbered versions, effective December 1, 2015. Read More ›
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When people come into my office one of the first things they ask me is often “how will this affect my credit?”  The answer is complicated.  Some of my clients come to me having never missed a payment in their life.  Their mortgage, their car payment, and their credit cards are all current.

Debt Relief Offered By The City of Chicago Every once in a while the City of Chicago will offer a debt relief program or amnesty program with regard to parking tickets and red light tickets. The most recent version of this program is going to last from November 15, 2015 through December 31, 2015. However,+ Read More