Recent Blog Posts in September 2009 |
| September 23, 2009 |
| Congress still not ready to address Mortgage Crisis with Bankruptcy Reform Laws |
| Posted By KC Swanson |
 |
| While this is not the current law in Bankruptcy law it is a hope of most Chicago Based Bankruptcy Attorneys that in the future their clients may be able to negotiate the mortgage on their home when the file a Chapter 13 Bankruptcy. As this article outlines, this type of law has helped farmers when enacted in prior Bankruptcy law reforms. This so called cram down law has also greatly helped Chicago Bankruptcy filers with their upside vehicles. Basically, when a Chicago consumer files a Chapter 13 Bankruptcy they are able to only have to pay back the value of the car, in full with interest, instead of what is owed on the contract. This ability was diminished some by the Bankruptcy reforms of 2005, the contract for the purchase of the car must be older than 910 days to qualify, but it still exits and provides great relief for the Chicago Bankuptcy Consumer. Until Congress makes such a change home owners are left on their own to modify their home loans. However, if not successful please call our office today so we can help you protect your home from foreclosure through a Chapter 13 Bankruptcy filing. We are Chicago Bankruptcy attorneys that specialize in getting your Chicago Bankruptcy filed as fast as possible to protect your car or home. We also examine the possibility of a Chapter 7 Chicago Bankruptcy in order to assure you have all the legal choices at hand to make sure you make the best decision for your financial future. Please visit our website today! |
|
| Continue reading "Congress still not ready to address Mortgage Crisis with Bankruptcy Reform Laws" » |
|
Permalink  |
| |
| September 16, 2009 |
| Bankruptcy Filings Up Nationwide and In Chicago |
| Posted By KC Swanson |
|
Bankruptcy filings have increased nationwide. In the Chicago area the number of cases filed have increased dramatically over last years filings. Swanson & Wagman are Chicago Bankruptcy attorneys who can alleviate you from your debt. Recently, we have seen a significant increase of people who now inquiring regarding filing a bankruptcy in the Chicago area. Chapter 7 bankruptcy is a liquidation bankruptcy that eliminates most debts. Chapter 13 is a consolidation of all your bills into one monthly payment. Please see our website for more details at www.practicinglaw4u.com.
|
|
| Continue reading "Bankruptcy Filings Up Nationwide and In Chicago" » |
|
| Permalink |
| |