In this article, you can discover… If you can legally keep your business open during bankruptcy litigation. How the automatic stay affects day-to-day business operations. When it is advisable to pause or cease operations during litigation. Can I Legally Keep My Business Open During Bankruptcy Litigation? The short answer is yes, you can keep your business open during bankruptcy litigation.…Read More
In this article, you can discover… What a 523 action is and how it can affect your debt discharge rights. How a 523 action differs from other adversary proceedings. The long-term financial risks if a Section 523 complaint succeeds against you. What Is A 523 Action, And How Can It Affect My Debt Discharge Rights? In a bankruptcy case, the…Read More
In this article, you can discover… If your business can file for Chapter 11 bankruptcy while facing fraud allegations. How pending fraud claims impact a Chapter 11 bankruptcy. The difference between civil and criminal fraud. Can My Illinois Business File For Chapter 11 Bankruptcy While Facing Fraud Allegations? Yes, a business can file for Chapter 11 Bankruptcy even when facing…Read More
For renters dealing with overwhelming debt, Chapter 7 bankruptcy can offer a path to relief, but it comes with important limitations, especially when housing is in the picture. Many people assume bankruptcy will solve every financial problem, including issues with a landlord or eviction. In reality, it depends on your situation, your timing, and what you’re trying to accomplish. In…Read More
In this article, you can discover… How to know if you’re being needlessly pressured into bankruptcy. Red flags to be on the lookout for when shopping for help with bankruptcy. The risks of using a debt settlement service over bankruptcy in Illinois. How Will I Know If I’m Being Pressured Into Bankruptcy? Bankruptcy is an important decision, and you should…Read More
In this article, you can discover… How fair market value applies to your assets when filing for bankruptcy. Whether you can legally contest the value of your assets. Whether assets below a certain value can be omitted from your list of assets. Who Is Responsible For Conducting The Asset Valuation Process? This question can be challenging, as there is no…Read More
In this article, you can discover… Whether bankruptcy can allow you to discharge medical debt. The differences between Chapter 7 and Chapter 13 bankruptcy for medical debt. Whether future medical expenses can also be discharged through bankruptcy. Will Bankruptcy Allow Me To Discharge All Of My Medical Debt In Illinois? The simple answer is that you can discharge medical debts…Read More
Can I Keep My Retirement Savings If I File For Bankruptcy In Illinois? Yes, you can generally keep your retirement savings if you file for bankruptcy in Illinois. Under Illinois law, retirement accounts like 401(k)s, 403(b)s, and IRAs are fully protected, which means they’re also protected under the bankruptcy code. However, there is an important caveat: the funds must be…Read More
How Does Bankruptcy Litigation Differ From The Regular Bankruptcy Process? If you’re going through bankruptcy or thinking about filing, you may have heard the term "bankruptcy litigation." While it can sound intimidating, understanding how it differs from the regular bankruptcy process can help you feel more prepared. In a regular bankruptcy process, the focus is on addressing your debts and…Read More
How Can Social Media Be Used Against Me In Bankruptcy Court In Illinois? If you're thinking about filing for bankruptcy, it’s important to understand how even your social media activity can impact your case. The U.S. Trustee's office has the right to investigate if they believe something isn’t adding up in your bankruptcy filings, and can request a 2004 exam,…Read More
