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Five Things to Avoid When Preparing for Bankruptcy
Five Things to Avoid When Preparing for Bankruptcy

Although most people assume that the bankruptcy process begins when they file their petition with the court, it is important to understand that preparation is crucial to the success of your case. For this reason, our Chicago bankruptcy attorney encourages you to plan ahead ...

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Blog posts in May, 2013

  • Extending or Imposing the Automatic Stay

    Pursuant to 11 USC 362, the filing of a bankruptcy petition serves to automatically stay certain activities against the debtor. These activities, ...

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  • Is Pre-Bankruptcy Credit Counseling Mandatory?

    As of 2005, pre-bankruptcy credit counseling is a mandatory requirement when filing for bankruptcy in Illinois. This means that you will need to ...

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  • Will Bankruptcy Significantly Affect My Credit?

    If you have considered filing for bankruptcy in Chicago, IL, you have probably heard someone say that it could permanently ruin your credit. While ...

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  • Chapter 13 Basics

    When most people think of bankruptcy , they think of Chapter 7's. Bankruptcies filed under that chapter are far more common than any other, as it ...

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  • Filing a Second Bankruptcy

    Obviously, the goal in any bankruptcy filing is to make it the only one you file. That's the reason that filing for bankruptcy can also be referred to ...

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  • The Chapter 7 Discharge

    The primary goal in any bankruptcy, including Chapter 7, is to obtain a discharge. The discharge is the order by the court that eliminates the ...

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  • Issues that Could Delay Bankruptcy

    There's a big difference between preparing for bankruptcy and fraudulent activity prior to filing bankruptcy. Preparing for bankruptcy may entail ...

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  • Key Differences Between Chapter 7 and Chapter 13

    One question that is asked, at nearly every single 341 Meeting of Creditors , is whether the debtor has reviewed the bankruptcy information sheet. ...

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  • Bankruptcy and a Second Mortgage

    During the years leading up to the mortgage crisis and collapse of late 2008, second mortgages borrowed against the equity of a home were common. ...

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