Bankruptcy, Chapter 7 Bankruptcy, Latest News

Chapter 7 Bankruptcy Discharge of Student Loans

Chapter 7 Bankruptcy Discharge of Student Loans in the United States Bankruptcy Court for the Northern District of Illinois Everyone knows that you cannot discharge student loans in a bankruptcy proceeding, right? Well, it would seem that this “common knowledge” may be more of a self-perpetuating myth. In fact, a 2012 study examining 207 bankruptcy […]

Areas of Practice, Bankruptcy, Chapter 13 Bankruptcy, Latest News

Unpaid Tolls and a Suspended License Plate – What Can I Do?

One of the effective methods used by the Tollway Authority here in Illinois to collect unpaid tolls is by suspending the license plates of the vehicle involved. The tolls are not even the worst part of the total amount because more often than not the penalties and interest drastically increase the amount due. Two ways […]

Bankruptcy, Chapter 13 Bankruptcy

Eliminating Mortgage Debt

An effective method in today’s real estate environment (with market prices having declined significantly) to reduce a home owner’s mortgage debt is to discharge said debt in a Chapter 13 bankruptcy filing. This applies to second mortgages, often also called equity lines of credit.  In bankruptcy lingo it is called “stripping-off” the mortgage. Essentially, a lawsuit […]