Recent Blog Posts

Worried that bankruptcy will ruin your credit score forever? It’s a widespread myth that bankruptcy does permanent damage. In reality, the most damaging decision you make may be to not file bankruptcy. While it’s true that bankruptcy will leave a mark on your credit report, rebuilding credit after a bankruptcy case is definitely possible. In…

Debt is big business. Companies and individuals use your debt as way for them to make money, but tend to leave you in further debt. Debt consolidation loans in Illinois, which compile all of your debt into one monthly payment, are often used in this manner. These loans lure homeowners into using their houses as…

Having wages garnished can be devastating. In this tough economy, many people are struggling to meet their basic living expenses and simply don’t have enough income left over to pay off their debts. Creditors typically use wage garnishment in Illinois as a final attempt to collect outstanding debts. During this process, you can no longer…

What started as a tidal wave of foreclosures is slowing to a steady stream. But that doesn’t mean the foreclosure crisis is over. Just because fewer homes are being foreclosed upon doesn’t mean more people are paying the mortgage. It simply means that more people have already lost their homes to foreclosure – and now…

What do you think of when you hear that a debt has been charged off? If you’re like most folks, you may think it means the debt is gone for good. And it is gone – just not from you. Charged-off debt is really just a tricky accounting term. When debts or assets are “charged…

For most people, having a car is a necessity, not a luxury. We use our cars for work, to transport our children to school and to run other important errands. Without a car our already complicated lives become even less manageable. If you fall behind on your car payments, your lender can repossesses its collateral,…

The Federal Housing Administration (FHA)’s new “Back to Work” lending plan shortens the waiting time required to secure a mortgage after bankruptcy or foreclosure to 12 months. FHA mortgages have always been a great option for first-time or lower-income borrowers because they require only a 3.5 percent down payment. In the past, borrowers had to…

There are advantages and disadvantages to filing jointly with your spouse. A skilled Atlanta, GA bankruptcy attorney can help you which path best suits your financial circumstances. In a joint bankruptcy, both spouses file one set of papers providing information on all of the property, debt, income and expenses that you share in common as well…

When you file for bankruptcy, you need quick relief. That is why it is important not to make any errors in your application that might delay, or worse, reject, your filing. Ensure smooth sailing for your bankruptcy process by working with an experienced bankruptcy attorney to avoid these common filing mistakes and omissions: Not passing…

In this difficult economic climate, millions of Americans are facing foreclosure. Chapter 7 and Chapter 13 have helped many people stay in their homes. A qualified and experienced Atlanta, GA bankruptcy attorney can review your income and debt and help you develop a sound bankruptcy strategy for keeping your home. Under Chapter 7, a bankruptcy…