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A study, co-authored by Robert M. Lawless, a law professor at the University of Illinois, found evidence of persistent stereotypes about African-Americans, with respect to their ability and willingness to pay off debts. As a result, he says, African-Americans are often encouraged to file for the sometimes more burdensome and expensive Chapter 13, as opposed […]

The post University Of Illinois Study Finds Finds Racial Bias In Bankruptcy Services appeared first on Bankruptcy Clinic.

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When it gets to the point where someone should declare bankruptcy, there can often be feelings of shame and failure. That’s also the reason why people sometimes wait too long to file. On the other hand, it’s more problematic to be buried under mountains of debt, and ask for no help. The past cannot be […]

The post Bankruptcy And Shame appeared first on Bankruptcy Clinic.

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While filing for bankruptcy is not for everyone, in some situation it may be your best option. Some people wait too long. In the process, the pressure mounts and they get themselves deeper and deeper into trouble. In the worst situations, they may lose so much more by not seeking relief from their financial issues. […]

The post Why File for Bankruptcy? appeared first on Bankruptcy Clinic.

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When utilized in the right situations, bankruptcy serves an important purpose. Bankruptcy can give debtors a fresh start by cancelling their debts and giving them a clean financial slate to begin anew. The bankruptcy laws are intended to require debtors to pay what they can reasonably afford in a reasonable amount of time. The bankruptcy […]

The post The Purpose of Bankruptcy appeared first on Bankruptcy Clinic.

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A reaffirmation agreement is an agreement entered into between a debtor and a creditor in a Chapter 7 case which sets forth provisions allowing the debtor to maintain secured debts that would otherwise be discharged in a bankruptcy case. Some debts in a bankruptcy may be secured by collateral the creditor could repossess or foreclose […]

The post Understanding a Reaffirmation Agreement appeared first on Bankruptcy Clinic.

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When filing for bankruptcy, you need quite a bit of information to make the process go as smoothly as possible. It may be obvious, but in order to list your creditors in your case, you will need their names and all their information, including what you owe them and their addresses. In the first part […]

The post Listing Creditors on My Bankruptcy Case appeared first on Bankruptcy Clinic.

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Although filing for bankruptcy may be something someone considers at a young age, some people may find they have to consider it for other reasons in their later years. As pensions have decreased over the years and health care costs have increased, many senior citizens are left looking for relief. One of the leading causes […]

The post Bankruptcy and Senior Citizens appeared first on Bankruptcy Clinic.

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If you file for bankruptcy, you may have many questions. You may want to know how public the information is and if those in your family, work and community will know. Bankruptcies are considered a public record. Anyone may contact the federal bankruptcy court to verify you have filed for bankruptcy. Even though they can, […]

The post Is My Bankruptcy Filing Made Public? appeared first on Bankruptcy Clinic.

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While many strive to be debt-free, the majority of us carry around some amount of debt. Oftentimes, we don’t learn money management skills early on, which in turn, can set you up for a lifetime of struggling with money. By taking some simple steps, you can establish a better financial path for yourself. Understand what […]

The post Simple Steps to Better Money Management: Keep a Budget appeared first on Bankruptcy Clinic.

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Many people mistakenly believe if they file for bankruptcy, it means they will lose everything they have. In reality, while in bankruptcy, there are many exemptions which allow the debtor to retain certain properties and items. When you work with our experienced Southern Illinois bankruptcy attorneys at the Bankruptcy Clinic, PC, we can help you […]

The post Exemptions in Bankruptcy appeared first on Bankruptcy Clinic.

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