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January 2019 Archives

Can I only file Chapter 7 bankruptcy once in my lifetime?

When in need of debt relief, it is normal and important to ask questions about your options and what those options could mean for your future. You may not want to take certain actions now if doing so could negatively affect you down the line. For example, some Illinois residents believe that they can only file for Chapter 7 bankruptcy once in their lifetime, so it is not something they want to be quick to rush into. The truth is, it is possible to file this type of bankruptcy more than once, so if you need it now, do not be afraid to consider it.

5 signs you have too much debt

For most Americans, debt is part of everyday life. After all, simply existing can be expensive. If you have acquired a significant amount of debt, though, you may spend an equal amount of time worrying about repaying it. 

Debt: This age group has more of it than any other

Money, money, money -- it is something everyone needs and some find they have in short supply. Illinois residents who lack funds to meet their financial obligations generally end up going into debt just to pay to live. According to a recent article, one particular age group struggles with debt more than any other age group. Who would that be?

Figuring out a Chapter 13 repayment plan

Illinois residents who are deemed to have sufficient income so as to prevent them from pursuing Chapter 7 bankruptcy to resolve their debt issues may have another option. Chapter 13 bankruptcy is for individuals who have money to pay back their creditors to some degree but need a little help doing so. How can one's repayment schedule be calculated if a Chapter 13 filing seems appropriate?

Illinois estate planning: Things to know about POAs

When it comes to planning for one's future, there are a lot of legal documents out there that some people think are unnecessary or that they simply do not understand. A power of attorney is a great document for Illinois residents to consider when going through the estate planning process. Unfortunately, there are a lot of misconceptions about what a POA can do and how it works. Hopefully, some of those misconceptions can be cleared up in this week's column.

Chapter 13 and other options to stop creditor harassment

When faced with significant debt and a lack of funds to do anything about it, the last thing anyone wants to deal with is harassment from creditors on top of an already stressful situation. It happens all the time, though. Illinois residents who find themselves dealing with creditor harassment can do something about it. A Chapter 13 filing, for example, is one way to stop calls and letters from creditors. For those who feel bankruptcy may not be the right fit, there are other legal avenues that can be explored.

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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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Available to meet throughout Will and DuPont Counties