A wage garnishment, also known as a wage attachment or wage deduction, is Court order that instructs your employer to withhold a specific amount of money from your paycheck and send it directly to a creditor. In most cases, a creditor cannot garnish your wages without obtaining a court-issued money judgment first. For example, if […]
Illinois Wage Garnishment Laws Read More »
In my experience, individuals, especially those in finance or high-profile positions, often hesitate to file for bankruptcy due to the social stigma attached. There’s a widespread fear of potential job termination if employers discover the bankruptcy, leading to concerns about missed job opportunities. While bankruptcy should not be a permanent mark on your record, occasional
How Does Filing Bankruptcy Affect My Job? Read More »
Receiving a letter from the Chapter 13 Trustee, whether it’s Marilyn Marshall, Thomas Hooper, or Glenn Stearns, can be a stressful moment. The ominous header, “Motion to Dismiss,” stares back at you, triggering the realization that your hard work in the bankruptcy case might be at risk. Why Did the Trustee File a Motion to
Chapter 13 Trustee Motions to Dismiss Read More »
Completing the Means Test is a critical step in evaluating your financial situation, specifically focusing on your income. This test serves as a key factor in determining whether you have the financial means to repay your creditors. In this discussion, we will closely examine what constitutes income for means test purposes, shedding light on what
What is Considered Income in Bankruptcy? Read More »
Obtaining a copy of your bankruptcy discharge paperwork is crucial, particularly when seeking new loans or leases. Lenders often require a copy of the actual court order to evaluate your eligibility for financing. This document becomes essential when applying for new credit post-bankruptcy, serving as a means for lenders to verify your debt status. The
Where Can I Get A Copy Of My Bankruptcy Discharge Papers? Read More »
Disclaimer: As of January 1, 2026, Public Act 104-0120 will drastically update Illinois bankruptcy exemption amounts. The figures below reflect the new law that will be in effect from that date forward. However, for all bankruptcies filed before January 1, 2026, the old exemption amounts still apply. Which set of numbers controls depends entirely on
Illinois Chapter 7 Bankruptcy Exemptions: Keeping What You Own Read More »
The means test is a crucial step in the Chapter 7 bankruptcy process, designed to establish objective standards for determining eligibility for relief. For many people, overcoming the means test is the main challenge to qualify for Chapter 7. The means test consists of two parts: median income and disposable income. If you successfully pass
Chapter 7 Breakdown: How to Pass the Means Test Read More »
One of the most common questions I get is about choosing the right bankruptcy chapter. For about 50% of folks, I think the answer is quite simple. Once you have passed the Means Test, you just need to look at the challenges, such as protecting assets, and figuring out what you want to achieve through
Which Chapter is Right for Me? Simple Bankruptcy Flowchart Read More »
Navigating Chapter 7 bankruptcy can be a challenging process, but for those with secured debts, I believe the option to redeem property creates an opportunity to make payments more affordable on certain assets, typically vehicles or other smaller assets. In this post, I will delve into the intricacies of redeeming secured property in Chapter 7
Chapter 7 Property Redemption: Redefining What You Owe Read More »
What is Car Repossession? Car repossession is when the lender takes back your car because you haven’t been able to make your car loan payments. Every state has its own rules for this process, and here, we’ll focus on what you need to know if you’re in Illinois. Chicago, in particular, grapples with a high
Navigating Car Repossession Laws in Illinois: The Chicago Guide Read More »
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