December 2015 Archives

New Year’s Resolution: Get your credit in shape

As we ring in the new year across the country, many people here in Illinois will be making promises on how to improve their lives in 2016. At Ledford, Wu & Broges, LLC, we know that one item on your list may be to get out of credit card debt. We are here to provide you with some quick tips on how to get started.

How does bankruptcy affect a suspended license in Illinois?

If you have lost your Illinois driver’s license because you were unable to pay a civil judgment or a penalty for certain traffic violations, you may have recourse through filing for bankruptcy. Keep in mind that you will have to do the following to get your license back: 

Understanding what your credit score means

If you have ever applied for a loan, you know the importance of having a good credit score. But what makes for a solid score? At Ledford, Wu & Borges, LLC, we know that understanding and building your number is an important part of preserving your financial future.

Use Chapter 13 bankruptcy to stop vehicle repossession

As the Federal Trade Commission points out, both Chapter 7 and Chapter 13 bankruptcy will put a stop to creditors trying to collect on debts. Both can also stop vehicle repossession. It is important for debtors in Illinois to understand how the Chapter 13 process will work when dealing with either the threat of repossession or following the seizure of a vehicle.

What does it mean to reorganize in a Chapter 11 bankruptcy?

For some businesses, filing for a Chapter 11 bankruptcy is the best option for maintaining operations. While most entities applying for this option will be either partnerships, limited liability companies or corporations, it is possible for you to file Chapter 11 as an individual.

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