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December 2017 Archives

Can I buy a house after filing Chapter 13?

Many Illinois residents may feel that filing for bankruptcy is the worst thing they can do to help their financial situations. While it is not generally the first thing to resort to in a financial crisis, it is not something to shy away from either. A Chapter 13 filing can have numerous benefits and will not prevent a person from achieving his or her economic goals in the future.

Chapter 13 or Chapter 7 bankruptcy can affect your credit score

There are different kinds of people in the world who have varying views about how certain things will help or hurt them. For instance, when it comes to filing for bankruptcy, whether Chapter 13 or Chapter 7, it can affect one's credit score. Some people will view this as a reason to avoid bankruptcy at all costs, while other Illinois residents may only see it as a small bump in the road to financial freedom.

Will changes in lender habits lead to another foreclosure crisis?

Many Illinois residents remember the big housing bubble of 2007 that resulted in a great many Americans losing their homes. In order to help people avoid the foreclosure process, lenders changed their habits and only gave loans to those individuals who could really afford them. Well, a decade later, lenders are changing their habits again. Could doing so lead to another foreclosure crisis?

Why credit card debt keeps increasing

Credit cards can be a good thing to have in one's wallet. They help build one's credit rating, some offer cash back or other incentives, and generally speaking, they are safer to carry than cash. While these are all great benefits, having access to a credit card also allows people to spend more than they can pay off at the end of every month. This is why for many Illinois residents, their credit card debt keeps increasing.

Will Chapter 13 bankruptcy wipe out my credit card debt?

High, overwhelming credit card debt is a very common problem. If you find yourself in a situation in which you can no longer pay your monthly credit card bills, you may be considering filing for bankruptcy. However, there are many things to know and understand about this procedure, beginning with the differences in types of bankruptcy filings and how each may affect your credit card debt.

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Lynch Law Offices, P.C.
1011 Warrenville Road
Suite 150
Lisle, IL 60532

Toll Free: 800-491-7493
Fax: 888-691-8337
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