Bankruptcy, Foreclosure & Loan Modification Posts in August, 2013

Bankruptcy Means Test

When a person files for bankruptcy, they must fill out certain paperwork to turn in to the courts to be sure that they are eligible. Specifically, if they choose Chapter 7, but they seem to have enough money to pay off their debts, they must take a means test to determine their eligibility. The means test will compare the income and expenses to that of the state’s mean, or average, numbers....
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How to Survive a Financial Crisis

While the unemployment rate has been trending downward since the apex in the beginning of 2010, it does not mean that everyone is in a better economic situation.  If you are still struggling with a personal financial crisis, then there are certain steps you can take to get back on the right track....
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Chapter 7 Bankruptcy For the Business Owner

There are many reasons that a business can fold, but when you’re the business owner, the process of dealing with the aftermath of your failed business can be overwhelming and emotionally difficult. That’s why it’s best to turn to a qualified bankruptcy attorney who can help you determine the best course of action for your specific situation....
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Bankruptcy Offers a Plan To Overwhelmed Individuals

If you ask Amy Flaten, filing Chapter 7 bankruptcy was stressful and emotional, but it also allowed her to start a new life and get out from under credit card bills that she could no longer afford to pay. Flaten wracked up credit card debt when her boyfriend at the time was injured, stopped working, and brought home increasingly higher medical bills. Flaten was buried under the weight of the credit cards she used to finance purchases during that time, which led her to meet with bankruptcy attorneys to review her options....
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  • Newland & Newland LLP, Attorneys, Arlington Heights, IL