Illinois Bankruptcy Law Articles

In this article we cover Iowa Chapter 7 Bankruptcy including What is the process for filing Chapter 7 Bankruptcy?, Exempt Income and Property from Chapter 7 Bankruptcy, First Meeting of Creditors, and Are There Debts That Cannot Be Discharged?

This article will discuss how those that qualify for a Chapter 7 bankruptcy can be eligible for a Chapter 13 bankruptcy zero percent plan and save their home and car. We will answer the following questions: what is the difference between Chapter 7 and Chapter 13 bankruptcy?, what is a zero percent plan?, what does the debtor pay in a zero percent plan?, how does the Mean's Test determine eligibility for a Chapter 13 zero percent plan?, and is a zero percent plan still an option if I have too much equity?

This article will discuss the benefits afforded to debtors under the Small Business Reorganization Act of 2019 and the CARES Act. We will answer the following questions: What is the Small Business Reorganization Act?, Am I eligible for Subchapter V bankruptcy?, What are the benefits of Subchapter V reorganization?, and When is the deadline to petition for Subchapter V bankruptcy?

In this article, we will discuss the possibility of discharging student loan debt through bankruptcy and answer the following questions: How Do I Prove Undue Hardship?, Is Chapter 7 Or Chapter 13 Better For Discharging Student Debt?, How Do I Begin The Process of Getting My Loans Discharged?, Do I Need An Attorney?, and What Happens If My Petition To Discharge My Student Loans Is Denied?

If you file for bankruptcy, you still have an opportunity to keep your house and vehicles. Whether this will be possible depends on four factors: (1) how much equity you have in the property that you are attempting to keep; and (2) whether your equity in the property exceeds the bankruptcy exemption for that type of property; (3) if you have a loan secured by the property, whether the bank will agree to reaffirm the loan despite the bankruptcy; and (4) whether you will be able to afford to continue to make your loan payments after the bankruptcy.

This article will discuss how those that qualify for a Chapter 7 bankruptcy can be eligible for a Chapter 13 bankruptcy zero percent plan and save their home and car. We will answer the following questions: what is the difference between Chapter 7 and Chapter 13 bankruptcy?, what is a zero percent plan?, what does the debtor pay in a zero percent plan?, how does the Mean's Test determine eligibility for a Chapter 13 zero percent plan?, and is a zero percent plan still an option if I have too much equity?

This article will discuss the benefits afforded to debtors under the Small Business Reorganization Act of 2019 and the CARES Act. We will answer the following questions: What is the Small Business Reorganization Act?, Am I eligible for Subchapter V bankruptcy?, What are the benefits of Subchapter V reorganization?, and When is the deadline to petition for Subchapter V bankruptcy?

In this article, we will discuss the possibility of discharging student loan debt through bankruptcy and answer the following questions: How Do I Prove Undue Hardship?, Is Chapter 7 Or Chapter 13 Better For Discharging Student Debt?, How Do I Begin The Process of Getting My Loans Discharged?, Do I Need An Attorney?, and What Happens If My Petition To Discharge My Student Loans Is Denied?