All individuals have to take a means test before filing a bankruptcy, and if their income, depending on the number of individuals in the family, exceeds a certain amount, the presumption is they cannot file a chapter 7. However, there are multiple deductions that can be taken from the gross income to show that the […]
Who Must Take The Means Test Prior To Filing A Bankruptcy? Read Post »
Means VideoDo your debts include IRS back taxes? If you do nothing, the interest and penalties will continue to pile up. The IRS may even file liens against your assets or prosecute you for tax evasion. Contrary to what most people think, some federal income tax arrears can be discharged in a Chapter 7 or Chapter
You are doing the best you can, but there isn’t enough money to pay everyone you owe. So you’ve been letting certain bills slide or paying them late. Now the bill collectors are harassing you constantly, demanding money, threatening legal action or even saying that you will be arrested. The Chicago law firm of Robert
Creditor Harassment Read Post »
Harassment VideoRelying on “plastic” can become a problem when credit card balances grow too big or your income shrinks. Perhaps you lost your job or had your hours cut. Maybe you were propping up a small business. Maybe you had a medical crisis or other unexpected bills. Or perhaps you were simply living beyond your means.
How to Better Manage Credit Card Debt Read Post »
Credit Card VideoAuto finance companies can repossess a car for any default if you’re one day late. We have seen cars repossessed with only one month in default. Repossession after only one month is rare but they have the legal right to do so. WHAT IS THE REPOSSESSION PROCESS IN ILLINOIS? Once an auto loan is in
Will They Repossess My Car If I Am One Payment Behind? Read Post »
Automobile Repossess Video
In Illinois, a garnishment is generally fifteen percent of your gross pay, but there are some limitations to this which apply to low wage earners. For example, if you make the minimum wage in Chicago of $12 per hour, then you might be entitled to thirty times that amount per week, or $360. If you
What Happens When Someone’s Wages Are Garnished? Read Post »
WagesEven one speeding citation, red light ticket or tollway violation can be a hardship when you have other bills and expenses. The amount doubles if you don’t pay the fine in a certain time. Before you know it, multiple tickets and fines on top of fines can add up to thousands of dollars. Then it
Traffic Ticket Debt Or License Suspension Read Post »
Tickets VideoThe city of Chicago is aggressively looking for infractions on parking meters and red light cameras. When people cannot pay immediately, these fees and fines are doubled. People then cannot possibly catch up. Parking tickets and red light tickets are not dischargeable in a chapter 7 bankruptcy but are dischargeable in chapter 13. We frequently do chapter
How Do Parking Tickets And Arrests Contribute To Debt? Read Post »
Arrests Tickets VideoWhen you can’t pay your mortgage on time, you start to panic. How much time do I have to get caught up? What happens when a foreclosure is filed? How soon can they sell my house, and what can I do to stop them? What follows is a description of the process of foreclosure and
How Does The Foreclosure Process Work In Illinois? Read Post »
Foreclosure VideoIf you have unpaid property taxes, you may be at risk of losing your home — even if your mortgage is paid off. Chapter 13 bankruptcy may be the solution to saving your house and curing your debt problems. The Chicago bankruptcy attorneys of Robert J. Adams & Associates can help you get into a
Finding a Solution For Unpaid Real Estate Taxes Read Post »
Real Estate Tax Video