A married couple living in Joliet or Will County, Illinois who is considering filing bankruptcy and divorce will have many factors to consider determining which they should file first. These factors include how much property needs to be divided, how much debt the couple has and what type of bankruptcy the couple plans on filing.
Filing for bankruptcy can be a difficult thing to do. When you are filing in Joliet or Will County, Illinois, knowledge of the debts that may be dischargeable in the process is important to know, as it can contribute to your decision to file. In Illinois, there are two types of bankruptcies that you can
An Illinois resident living in Will County or Joliet who is not behind on their bills but never feels like they are gaining any ground may consider filing for bankruptcy. However, many people assume that if you are not behind on your bills you either cannot file for bankruptcy, or filing for bankruptcy would not
The general rule states that student loans will typically not be erased after filing for bankruptcy. There are two exceptions to this generalization. In order for the exceptions to apply, the court must decide that the particular facts in the case are worthy of such exception. The first exception states that student loans may be
If you are an Illinois resident living in Joliet or Will County, Illinois and are currently having, or expect to have your wages garnished, filing for chapter 7 bankruptcy may stop the garnishment. Wage garnishment happens when a creditor gets a money judgment against a debtor in court. The judgment will then be sent to
If you are a resident of Joliet or Will County, Illinois and are thinking or declaring chapter 13 bankruptcy, an important question that will weigh heavily on your decision is; do you repay your creditors in a chapter 13 bankruptcy? The answer unfortunately is, maybe. There are several factors that determine how much debt must
How long do I have to wait to file a Will County, Illinois Chapter 7 bankruptcy if I have already filed one? Chapter 13?
Before delving into this question, we must first address a matter of semantics: When using the word ‘file’ in the literal sense of delivering a bankruptcy petition to the court clerk, there is technically no limit to the frequency with which you can file for bankruptcy. But the mere act of delivering a bankruptcy petition
Will a Will County, Illinois Bankruptcy lift my drivers license suspension for child support, unpaid fines, or other judgments?
When a person has too many unpaid debts, their driver’s license may be suspended until the debts are paid off. It is even possible for one’s license to be suspended for debts unrelated to traffic matters (unpaid child support, alimony, personal injury claims, etc.). Depending on the nature of your debts, it is possible that
Your home is an asset, and Chapter 7 bankruptcy works by liquidating your assets to pay off your debt. However, this does not inevitably mean you will lose your house if you file for bankruptcy. As with most things in law, the fate of your home in a Chapter 7 bankruptcy depends on various factors.
If you have previously filed for bankruptcy in Will County,, Illinois or elsewhere and successfully received a discharge of debt, you must wait a number of years to avail yourself of bankruptcy relief again. The exact period between filings in Will County depends on which bankruptcy chapter you received your previous discharge under, and which