Bankruptcy Now Lets You Discharge Your Student Loan Debt
Cutler & Associates Ltd | Chicago Banruptcy Attorney
by David Cutler
2M ago
Can you discharge student loans in bankruptcy? We’ve got great news for you! Student-loan holders now have a new path to freeing their debt through bankruptcy! If you’ve been worrying about how you can pay off your debts, read on to know if this applies to you! Schaumburg Bankruptcy Attorney answers questions about the new ruling In the past, discharging student loans is an almost impossible hurdle in bankruptcy. The Department of Justice vigorously fought against any lawsuits that target getting these types of debts discharged. But on November 17, 2022, President Biden announced a significant ..read more
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Benefits of Bankruptcy
Cutler & Associates Ltd | Chicago Banruptcy Attorney
by David Cutler
5M ago
Benefits of Bankruptcy in Skokie, IL Bankruptcy seems like such a scary notion to many. It is a word that is often associated with losing property, having assets seized, and having to sell everything that you own to pay off your creditors. While there is a string of truth to these, the plus side is that bankruptcy isn’t all gloom and doom. Bankruptcy doesn’t always mean losing it all, and understanding that there is a silver lining is the first step to recovery.  Unbeknownst to many, there are benefits of bankruptcy. While these two aren’t words that you’d normally say in the same sentenc ..read more
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How to Protect Your Small Business from Bankruptcy
Cutler & Associates Ltd | Chicago Banruptcy Attorney
by David Cutler
6M ago
Small Business Bankruptcy in Illinois When running a small Illinois business, you should always look on the bright side and appreciate the achievements your business has made. But on the other hand, it’s just as important, if not more so, to think about the problems your business can encounter (and how to avoid those problems), such as small business bankruptcy. If your small business in Illinois is having trouble paying its bills, bankruptcy may help. Whether or not bankruptcy can help relies heavily on many things, such as if your business is a corporation, general partnership, sole proprie ..read more
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How Long Does Bankruptcy Stay on a Credit Report?
Cutler & Associates Ltd | Chicago Banruptcy Attorney
by David Cutler
9M ago
Bankruptcy on a Credit Report If you’re like most people, you’ve probably spent a great deal of your life working very hard in order to keep your credit score high. However, times don’t always favor us and if you find yourself filing for bankruptcy, there could be fears and doubts in your mind regarding your credit score. Of course, no one would like bankruptcy to reflect on their credit score as this can affect their ability to loan cars, homes, and more which is why getting in touch with a bankruptcy attorney is important.  To allow you to have a great sigh of relief, no, having bankrup ..read more
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What Is The Statute Of Limitations On Debt In Illinois State Law?
Cutler & Associates Ltd | Chicago Banruptcy Attorney
by David Cutler
9M ago
Statute Of Limitations On Debt In Illinois Far too many consumers are confused by the term “statute of limitations.” Many believe that this is a time restriction that the creditor can recover a debt. This is not correct. In reality, in most states, including Illinois, a debt collector has infinite time to collect. What is the status of limitations? The statute of limitations is a law that regulates how long a creditor (or owner of the consumer debt) has to initiate a debt collection lawsuit against the consumer to seek legal recovery.  So, even though a debt collector can keep trying to c ..read more
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When Is a Bankruptcy Claim Contingent, Unliquidated, or Disputed?
Cutler & Associates Ltd | Chicago Banruptcy Attorney
by David Cutler
11M ago
Bankruptcy Lawyer in Chicagoland In most ways, filing for bankruptcy in Illinois is the same as filing in another state. The bankruptcy process is governed by federal bankruptcy law rather than Illinois state law, and it works by dissolving contracts between you and your creditors—this is what provides you a fresh start. However, Illinois’ laws have a crucial role as well. They decide which assets and liabilities you may retain in your bankruptcy case. You’ll also need to know some additional filing information, which we’ll go over in this blog. Consulting a Chicagoland bankruptcy attorney wil ..read more
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What Debt Collectors Can and Cannot Do
Cutler & Associates Ltd | Chicago Banruptcy Attorney
by David Cutler
1y ago
Debt Relief Attorney Serving Illinois For several reasons, a financial crisis may strike anybody at any time. Your finances may have spun out of control because you lost your job, got divorced, or had a health-related problem. Even if you just fell behind a little at a time and now your credit card debt has taken over your life, filing for bankruptcy may provide you with a fresh start. Bankruptcy is a bad word for many people, and it should be avoided at all costs. However, the fact is that bankruptcy may be a helpful instrument for reorganizing your finances. At Cutler & Associates, we r ..read more
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A Closer Look At Nonexempt Property In Bankruptcy
Cutler & Associates Ltd | Chicago Banruptcy Attorney
by David Cutler
1y ago
I am sure you have been asked this question a lot, “Will I lose my property in bankruptcy?” Quite frankly, it can be so confusing to figure out exactly if you will have to let go of your possessions or if they are “exempt” from bankruptcy. Don’t worry; CHICAGO AREA BANKRUPTCY ATTORNEYS are here to clear the air and give you a quick overview about non-exempt property in a bankruptcy proceeding. This article will determine how non-exempt property in bankruptcy works and the related procedures.   In bankruptcy, what is a property? Everything you possess is property. That is, even if they are ..read more
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What to Know About Chapter 7 Bankruptcy?
Cutler & Associates Ltd | Chicago Banruptcy Attorney
by David Cutler
1y ago
Bankruptcy is a complex subject matter. There are several types of bankruptcies among them, Chapter 7 and Chapter 13, both of which are classified as personal bankruptcies. Which is the best for your situation? Here is some information on bankruptcy Chapter 7. Getting A Fresh Start Through Bankruptcy Bankruptcy is prepared to give a fresh start to those drowning in debt. Frequently, individuals make terrible financial judgments. Occasionally, some people also find themselves in financial hardship through no fault of their own. A family member’s critical sickness, a wage earner’s layoff, or oth ..read more
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Is Chapter 13 or Chapter 7 Better? Which is Perfect For You?
Cutler & Associates Ltd | Chicago Banruptcy Attorney
by David Cutler
1y ago
One of the very first questions asked by people once they decide to file bankruptcy (whether in Illinois or elsewhere) is, “Is Chapter 13 or Chapter 7 better?” It is an important question because deciding to file for bankruptcy is not an easy or enjoyable one. It can be tough and frustrating to navigate your way through the added pressures that come with the court system, and sometimes it’s easier to seek help from a legal professional, specifically a reliable bankruptcy attorney in Chicagoland.  This article outlines some of the considerations you should make before deciding whether Chap ..read more
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