You have enough debt that you're going to file for bankruptcy. In many ways, it seems like you would want to pay off as much of that debt as possible, but experts actually advise against it.
Does the homestead exemption always protect your home?
In Illinois, the homestead exemption in a Chapter 7 bankruptcy case is there to make sure that bankruptcy doesn't leave you homeless. The goal is to pay off the debt, not to make you destitute.
What do I need to qualify for Social Security Disability?
To qualify for Social Security Disability in Bellevue, you must have a medically documented physical or mental condition that keeps you from performing at least one work activity. What exactly does that mean?
Disabled? Do not despair
One of the features of living with a disability is the ready availability of unfortunate stories. Some people never got SSD benefits because they lost heart due to the bureaucracy.
Do not try to protect assets by transferring them before filing
With bankruptcy looming, you're worried about your assets. You know that some of them can be liquidated to pay off your debt under Chapter 7. Because of your low income -- perhaps you lost a job through no fault of your own -- you know you're going to need to use Chapter 7 instead of Chapter 13.
Is bankruptcy a tool to use during foreclosure?
Generally speaking, bankruptcy is a legal tool. It allows you to eliminate or at least rearrange your debt. It gives you a legal option so that lenders have to work with you, and it can provide you with a fresh start. It's also potentially a tool that you can consider if you're facing foreclosure.
