Month: November 2017

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.First and foremost, you won't likely "save" any credit lines. For example,...

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.That said, there are limits to the exemption. The max for one person is...

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...

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...