Bankruptcy Basics

It is a harsh reality of today’s post-collegiate environment – two-thirds of all students now graduate with burdensome debt that can follow for many years to come. Following a recent news story on CBS Evening News, a comment was made that a student CAN have their federal student loans discharged in a Chapter 7 bankruptcy [...]

In summary, being a bankruptcy attorney requires a few things you need to really concentrate on. That is being empathetic, understanding, courteous, kind, and helpful.  It’ll go a long way in your consultations when you’re meeting with people.  Most of the clients that I meet with, I’m not their only stop.  They’ve talked to a [...]

Now, you must stay abreast of the laws.  The bankruptcy laws changed on October 17 of 2005, but that doesn’t mean they’re not ever-changing.  There are constant cases that are going before the Seventh Circuit here in Illinois.  There are cases that have been going to the Supreme Court on bankruptcy, and you have to [...]

Approximately two months after the meeting of creditors, the debtor will receive a discharge in the mail.  That’s the proof that the case has gone through to completion, and no creditors can sue them or bother them on debts that were discharged.  The exception to Chapter 7 debts that are not discharged are recent taxes, [...]

The Type of Debts You Have Affect Your Bankruptcy OK, this post appears in the National Bankruptcy Forum, Bankruptcy Basics category, so I’ll keep this short sweet and simple. As bankruptcy attorneys, we need to know what our clients owe.  What are the debts?  If the problem is credit cards and medical bills and personal [...]