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September 2015 Archives

Understanding the Fair Debt Collection Practices Act

If you owe a debt in Illinois, there are certain guidelines by which collectors must abide. Unfortunately, our attorneys at Ledford, Wu & Borges, LLC, have seen all too often how these entities try to take advantage of consumers through using illegal practices.

Can a creditor take my VA benefits or Social Security?

You may already know that when a creditor sues you in Illinois or elsewhere, the entity will be able to secure the money owed through practices such as garnishing wages. If you currently receive income through Social Security or Veterans Affairs benefits, you may be understandably concerned about losing that money to a debt collector.

What are my options to avoid foreclosure?

If you are in danger of losing your home, you may understandably be researching your options. First, know that you are not alone. According to RealyTrac, one in every 730 homes in Illinois is dealing with foreclosure. You can avoid becoming a statistic by knowing your options.

Recovering after filing for Chapter 11 bankruptcy in Illinois

Filing for Chapter 11 bankruptcy may not be an easy step, but it is sometimes a necessary one. As the Illinois Attorney General points out, through filing for Chapter 11, a business can still maintain control of its assets and reorganize. Moving forward, a business owner can remain operational and start the recovery process. Businesses may also be able to file for Chapter 7, which will discharge all debts. For many companies, however, this will mean halting operation and closing the business.

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