Nearly a year ago, The Supreme Court held in

Weighing your debt resolution options can be overwhelming.  We are posting a 5-part blog series over the next month to help breakdown some of the most common and important considerations. Here are the topics we will be covering: What are the tax consequences? How the debt is settled – lump sum payment vs. structured payment […]

If you ask any bankruptcy lawyer what they feel the best time is for filing bankruptcy, you’ll likely hear a resounding, “Now!” In truth, waiting around to file bankruptcy increases your risk for wage garnishments, lawsuits, auto repossession, and even foreclosure of you home. The New Year is here now, and there are many reasons […]

There is a common thread among potential bankruptcy clients who call seeking bankruptcy relief. They are most concerned about the cost involved in filing for bankruptcy and getting out of debt. I’m not referring to the court costs. Most potential clients are aware of the court cost because they have been asking this question over+ Read More

RadioShack Corp. is reportedly preparing to file for bankruptcy as early as February, according to a recent Wall Street Journal article.
Sources familiar with the situation spoke with the Wall Street Journal regarding the electronics chain’s recent financial situation. They confirmed a filing could come in the first week of next month.

If you’ve got private student loans, you’re more likely to fall behind on them than on your credit card debt.

Timing is critical when filing a chapter 7 bankruptcy case. If you are wise, you can get out of debt and still be able to protect your much needed tax refund. The key is to file either several months before or several months after your tax refund is either expected or received. The problem is+ Read More

This is a true story that happened last week for one of my chapter 13 bankruptcy clients. The client received a notice from the Illinois Secretary of State that his driver’s license was going to be suspended for failure to pay parking tickets by a specific date. He sought my advice on chapter 13 bankruptcy+ Read More

Midland Funding is a company that buys old credit card debts. But that’s just the tip of the iceberg.
If you go past due on a credit card debt, it’s going to be sold to another company. That’s how credit card companies make their money – by selling old debts that they can’t collect on their own.