Filing for bankruptcy in Illinois doesn’t mean you’ll lose everything and end up living in a cardboard box underneath a bridge. The process is designed so that the individual or business owner can get back on their feet and continue living their life in much the same fashion as before but with a newfound understanding of how to avoid debt and better manage monthly expenses. Many of your assets can be exempt from bankruptcy, allowing you to keep your house, car, and business property.
Involuntary bankruptcy is a legal process by which creditors can force an individual or business to enter into bankruptcy. The creditor must petition the courts to initiate the bankruptcy proceedings and the indebted party can file an objection to force a case. Having this option gives creditors some degree of protection against individuals or businesses who may otherwise take advantage of the business.
Having a successful business that is cruising along like a well-oiled machine can be a very rewarding experience; just as owning a business that is digging itself deeper into debt can feel like suffocating jail cell. Every business owner understands the ups and downs of running a business, but it’s important to know what tools are at your disposal should your business run into an extended time of financial difficulty.
We offer free, paid & online consultation in nearly every area of law throughout Illinois and Iowa. We have a range of options to assist you with your legal needs.
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Involuntary bankruptcy is a legal process by which creditors can force an individual or business to enter into bankruptcy. The creditor must petition the courts to initiate the bankruptcy proceedings and the indebted party can file an objection to force a case. Having this option gives creditors some degree of protection against individuals or businesses who may otherwise take advantage of the business.
When someone dies their estate enters probate. The decedent’s assets will be distributed based on whether a will exists or not. Estate probate cannot be put on hold indefinitely because a family member or potential legatee believes a will exists somewhere. There are deadlines associated with estate probate in Illinois. Extensions can be granted, but typically the process must have started within 30 to 45 days after death. If no will can be found the assets will be will spread evenly to the appropriate family members by the estate administrator assigned to the case.
The list of problems that can arise during a real estate transaction is lengthy and without an attorney to handle those problems, should they arise, the process can be scary. Beyond issues that can happen with any real estate transaction, certain scenarios nearly demand to have an experienced attorney. Below we’ll cover five common scenarios when, as a seller or buyer, you should hire a real estate attorney and what you risk by not having one on your side.
We offer free, paid & online consultation in nearly every area of law throughout Illinois and Iowa. We have a range of options to assist you with your legal needs.
Involuntary bankruptcy is a legal process by which creditors can force an individual or business to enter into bankruptcy. The creditor must petition the courts to initiate the bankruptcy proceedings and the indebted party can file an objection to force a case. Having this option gives creditors some degree of protection against individuals or businesses who may otherwise take advantage of the business.
When someone dies their estate enters probate. The decedent’s assets will be distributed based on whether a will exists or not. Estate probate cannot be put on hold indefinitely because a family member or potential legatee believes a will exists somewhere. There are deadlines associated with estate probate in Illinois. Extensions can be granted, but typically the process must have started within 30 to 45 days after death. If no will can be found the assets will be will spread evenly to the appropriate family members by the estate administrator assigned to the case.
The list of problems that can arise during a real estate transaction is lengthy and without an attorney to handle those problems, should they arise, the process can be scary. Beyond issues that can happen with any real estate transaction, certain scenarios nearly demand to have an experienced attorney. Below we’ll cover five common scenarios when, as a seller or buyer, you should hire a real estate attorney and what you risk by not having one on your side.
Involuntary bankruptcy is a legal process by which creditors can force an individual or business to enter into bankruptcy. The creditor must petition the courts to initiate the bankruptcy proceedings and the indebted party can file an objection to force a case. Having this option gives creditors some degree of protection against individuals or businesses who may otherwise take advantage of the business.
When someone dies their estate enters probate. The decedent’s assets will be distributed based on whether a will exists or not. Estate probate cannot be put on hold indefinitely because a family member or potential legatee believes a will exists somewhere. There are deadlines associated with estate probate in Illinois. Extensions can be granted, but typically the process must have started within 30 to 45 days after death. If no will can be found the assets will be will spread evenly to the appropriate family members by the estate administrator assigned to the case.
The list of problems that can arise during a real estate transaction is lengthy and without an attorney to handle those problems, should they arise, the process can be scary. Beyond issues that can happen with any real estate transaction, certain scenarios nearly demand to have an experienced attorney. Below we’ll cover five common scenarios when, as a seller or buyer, you should hire a real estate attorney and what you risk by not having one on your side.
We offer free, paid & online consultation in nearly every area of law throughout Illinois and Iowa. We have a range of options to assist you with your legal needs.
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