Many debtors feel bankruptcy is their final option in helping them regain financial control.  While there are filing fees and credit counseling fees that are required, many wonder how they can pay if they can’t afford to pay their creditors. You may even have the notion of saying why bother paying for an attorney when [...]

U.S. Sen. Elizabeth Warren, a Massachusetts Democrat, introduced legislation on Tuesday that would prohibit employers from requiring job applicants to disclose their credit history.

Diane L. Drain, attorney and counselor

This is the case of Jeffrey and Debra Miller who live in Gilberts, Illinois which is in Kane County Illinois.  They were here for a consultation on either Chapter 7 or Chapter 13 bankruptcy.  As we run through the facts here, they have not filed a bankruptcy before.  They do own a home with a+ Read MoreThe post Bankruptcy Filing Will Depend Upon The Means Test appeared

Chapter 13 bankruptcy is a repayment plan that restructures debt obligations to help you make affordable payments each month.  The plan is designed to help you get out of debt or help you catch up on debts you may have fallen behind on.  Making a purchase in Chapter 13 such as a vehicle may be [...]

Many people know they are in a desperate situation and need to file a Delavan Chapter 7 Bankruptcy. What they don’t know is that timing can make all the difference in the outcome of the Chapter 7 Bankruptcy and in their livelihood. Several factors are involved when determining when is the right time to file a Delavan Chapter 7 Bankruptcy. Our Delavan Chapter 7 Bankruptcy attorney discusses some of the most important timing issues below.
Factors you need to consider before filing a Delavan Chapter 7 Bankruptcy:
 

Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for December 19, 2013 Ski center slaloms toward bankruptcy finish line Bankruptcy Auction Yet to Produce Buyer for Atlantic Club Bankruptcy judge suspends trial over proposed swaps settlement  

Debtors considering Chapter 13 bankruptcy may want to know how much they are required to pay during the plan.  Understanding what you will be required to pay will depend on several factors.  Your monthly income, type of debt, and ability to make payments will have an effect on what you will pay.  There are certain [...]

As of 2013 this nation’s second largest consumer debt market is student loans.  It is predicted that student loan defaults will be the next financial tidal wave to hit the nation.  Earlier this year, the Consumer Financial Protection Bureau (CFPB) announced that outstanding student debt totals approximately $1.2 trillion. The Bureau also estimates that 7 million student loan borrowers are now in default on their debt.

Sometimes debtors just need to face the facts when it comes to throwing in the towel on their finances.  You may have been trying to make payments or find ways to make your money stretch in an effort to avoid filing because of silly misconceptions about why you should avoid it.  It is possible you [...]