Articles From Law Offices of David Freydin

Medical Bills Will Push Many Households into Bankruptcy

NBC Business News reported last month that soaring medical costs is a top factor in why many individuals and families in the U.S. seek bankruptcy protection.

Lien Stripping Through a Chapter 13 Bankruptcy

Lien stripping is the process by which a second mortgage may be eliminated for certain homeowners through the Chapter 13 bankruptcy process.

Repeat Bankruptcy Filers Increasing

In a report published by the Albuquerque Journal, Americans filing for personal bankruptcies in the past few years are doing so with less debt and less assets.

Exemptions in Illinois Bankruptcy Cases

When filing for bankruptcy in Illinois, you must follow the state laws regarding exempt property. This is property and assets which cannot be used by the bankruptcy court in your case.

Who is a debtor in an Illinois bankruptcy case?

Under bankruptcy laws, debtors are those who reside in, own a home, business, or property in the state in which they intend to file a bankruptcy petition.

Medical Bills and Bankruptcy

An unforeseen illness or injury can lead to spiraling medical expenses which can severely endanger one’s financial scene.

The Automatic Stay in Bankruptcy

Once you file a bankruptcy petition, whether in a Chapter 7 or Chapter 13 case, the court will impose an automatic stay against the creditors listed in your case.

Don’t Engage in These Actions Before Bankruptcy

If you are considering filing for bankruptcy, it is important that you do so properly.

Credit Card Abuse: Customer Beware

Credit card abuse on the part of a credit card company can occur in many forms.

The Basic Bankruptcy Process Explained

If you are considering the possibility of filing for bankruptcy, it’s helpful to have a basic understanding of how the process works. Following is an explanation of process based upon new laws that ...

Is Filing for Bankruptcy Moral?

Most people want to pay their debts and attempt to live within a budget, but sometimes the unexpected happens and plans have to be adjusted. In today’s uncertain economy, things can change overnight.

Understanding The Means Test

Filing for Chapter 7 bankruptcy has several advantages for the client seeking to end their debt.

Frequently Asked Questions: Chapter 7 Vs Chapter 13

One of the most common questions that prospective clients looking into improving their financial situation by filing for bankruptcy have is whether to file under Chapter 13 or Chapter 7.

Benefits to a Chapter 7 Bankruptcy

In 2010, more than 1.1 million people filed Chapter 7 bankruptcy, an increase of more than 200,000 from 2009. On the other hand, approximately 400,000 people filed Chapter 13 bankruptcy in 2010, which ...

What Bankruptcy Can Do For You

It’s no secret that our nation is hurting and Illinois families are being hit just as hard as families in other states. Currently, our unemployment rate is 8.6%, compared to its peak of 11.2% in ...
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