Lisle Legal Issues Blog
Who is responsible for your debt when you die?
Talking about what happens to your belongings after you die is a difficult topic for most people to discuss with anyone, especially close family members. Studies show that only four out of every 10 adults in the U.S. have an estate plan in place. Many people are also...
Filing bankruptcy could be your cure for medical debt
Bills looming over you can be bad for your health, but your health may be what got you here in the first place. Six out of 10 people 65 and older filing for bankruptcy are doing so because of medical debt. Even if you have partial health coverage, copays and...
Chapter 13 may be how you save your home from foreclosure
Being behind on your payments can be hard, but few things are harder than potentially losing your home. Bankruptcy can seem like a last resort, but it may be the best way to keep a roof over your head. Approximately one resident in the Naperville area is evicted every...
Illinois credit card debt is the fifth highest in the country
In years past, you might have used a credit card only for emergencies or large purchases. You would have carried balances on credit cards only if you couldn’t cover your basic expenses. But credit card use has boomed. And if you regularly put a balance on your credit...
Useful strategies for getting out of credit card debt
Some people in debt seem to think they are alone; however, that is far from reality. According to recent data, Americans totaled more than $1 trillion in unpaid credit card balances in 2017, the highest it’s been since the Great Recession. Luckily, there is light at...
Reasons to retain an attorney when selling your home
A home sale is a huge undertaking. It is demanding both emotionally and financially, and you want to put yourself in the most advantageous position possible. This includes hiring the help you need. Whether you choose to sell your home yourself (for sale by owner) or...
Senior debt is a growing problem
As an elderly American suffering from debt, you are not alone. Nearly half of seniors are struggling with bills they may or may not be able to pay. The Financial Times reports that one in seven people that are filing for bankruptcy are now over 65 years of age, "an...
What are the dangers of a borrow-now-worry-later mentality?
A recent report found an increase in the number of people carrying credit card debt across generations.The number of Gen Xers with credit cards increased by 3%, Millennials increased by 5% and Gen Zers increased by a whopping 41%. Although this is a stunning percent...
Creditors can sue for credit card debt repayment for only so long
Most people use credit cards either for their perks or financial need. As a result, numerous Illinois residents have credit card debt that they are struggling to repay. When debts aren't paid, creditors can take legal action in an effort to recover the funds owed...
How is consumer debt treated during the probate process?
A recently published article discussed consumer debt in the United States and how it is treated after a person dies. The simple truth is, creditors have the right to still get paid, which means they can go after the money during the probate process. In Illinois, who...
