Author Archive
Lincoln’s Bankruptcy
Consumer bankruptcy in America serves to “relieve the honest debtor from the weight of oppressive indebtedness, and permit him to start a fresh free from the obligations and responsibilities consequent upon business misfortunes” and to provide individuals “a new opportunity in life and a clear field for future effort, unhampered by the pressure and discouragement of pre-existing debt.” Local Loan Co. v. Hunt, 54 S.Ct. 695 (1934).
Can I Afford To File Chapter Seven Bankruptcy?
Among the initial questions regarding Chapter 7 bankruptcy Chicago consumers ask is “how much should filing for Chapter Seven cost?” That, of course, is a natural question given that, in most cases, a person contemplating filing for personal bankruptcy in Chicago has typically run up against the limits of their budgetary means.
The Basics Of Consumer Bankruptcy
It might be quite tough for somebody that has been enduring personal debt and past due bills to reach the realization that they might be in a financial condition which will not likely simply resolve itself. Despite the fact that this kind of problem can seem virtually hopeless, there is a way out that the legal system can provide to help people get out from underneath the encumbrances of overwhelming unpaid debt. Within my Chicago bankruptcy practice, I help individuals to find out whether or not the decision to seek bankruptcy relief is appropriate with respect to their unique problems.
Bankruptcy – How Did I Get Here
In perhaps the most challenging economic period since the Great Depression, individuals and their families throughout America are finding it alot more hard to improve their economic positions, or even keep their present standards of living. With property losing value, very high levels of unemployment, minimal alternatives for budget friendly medical insurance, along with any number of other reasons, people that never believed that they could have money troubles are finding themselves just a paycheck removed from devastation. It comes as no real surprise that many more individuals than ever before are being put in a position where they must really contemplate filing for Chapter 7 or Chapter Thirteen bankruptcy.