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October 2015 Archives

The relationship between student loans and bankruptcy

Student loans have created financial problems for millions of people in Illinois and across the country. At Ledford, Wu & Borges, LLC, we know that you probably have legitimate reasons for falling behind on your payments, ranging from unemployment to medical bills to exorbitant interest rates. You should be aware of your options for managing that debt, which can include bankruptcy.

How can I avoid filing for bankruptcy in Illinois?

Filing for bankruptcy in Illinois can give you a fresh financial start, but it can also carry with it some serious adverse effects. Bankruptcy can do significant, lasting harm to your credit score and it will cost you money.

Millions on the line as Chicago judge hears bankruptcy case

Timing is everything, especially when it comes to filing bankruptcy. In Illinois and across the country, the date of filing for Chapter 11 and other types of bankruptcy plays an important role in determining when creditors can no longer collect funds. As a recent incident demonstrates, a discrepancy over just a few days can cost a company millions of dollars.

Should you sign a reaffirmation agreement?

If you are planning to file for Chapter 13 bankruptcy protection, you may have heard about reaffirmation agreements. These are statements filed with the bankruptcy court in Illinois that show your commitment to retaining and paying certain debts. However, before you sign any reaffirmation agreement it is important for your attorney and for you to consider your financial situation carefully.

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