foreclosure Archives - Cook County Bankruptcy

Deeds and Homeowner Association Fees – Bankruptcy Home Blog

June 3, 2013assessments, chapter 13, chapter 7, foreclosure, HOATerrance Leeders

Deeds and Homeowner Association Fees - Bankruptcy Home Blog

Interesting fact pattern here. The spin I see is that the debtor files bankruptcy and 'surrenders' the home.
Many mistakenly believe discharging the mortgage means the house is no longer theirs. It still is, until the property is sold or goes thru foreclosure. The HOA or condo assessments incurred from the date of bankruptcy until then, are the debtor's responsibility since they owned the property!

The rule is to...

Rapid Fire Q&A

July 24, 2007amendment, avoid Bankruptcy, chapter 13, chapter 7, discharge, Divorce and Real Estate, FAQ, foreclosure, garnishment, Q and A, student loansTerrance Leeders

Here are a sampling of questions I have been getting regarding bankruptcy an bankruptcy process. If you would like further bankruptcy information, please contact my law office.

Judgment
Q:
If a Judgment was won against you for a security bond and you file bankruptcy with no real property or income, can that judgment be included in the bankruptcy?
A:
I am not totally familiar with a 'security...

Chapter 13

February 17, 2007adjustable rate mortgage, ARM, Bankruptcy, chapter 13, chapter 7, consolidation, credit cards, foreclosure, interest rate, medical bills, mortgage, mortgage defaultTerrance Leeders

Chapter 13 Stop mortgage foreclosure

Keywords: chapter 13, bankruptcy, foreclosure, consolidation, chapter 7, mortgage, mortgage default, credit cards, medical bills, interest rate, ARM, adjustable rate mortgage

Stop Foreclosure
Yes, you can save your home!

Using the chapter 13 can strategically help you cure your mortgage default, protect your equity and eliminate your other debts to help you right the...

Foreclosure and bankruptcy

February 2, 2007Bankruptcy, chapter 13, foreclosureTerrance Leeders

My clients often call and ask me how long does a foreclosure take?
How much time do I have in my house?
Or how much time do I have to file Chapter 13 to stop the foreclosure?

Excellent questions. The generic answer is anywhere from 6-9 months from the time the foreclosure started. The party being foreclosed upon will get notices and timelines of events as they occur to get specific dates. The foreclosure attorney's office can also provide the dates to you...if they will even take your...

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Leeders Law

3 months ago

Thinking about bankruptcy in Illinois? If you and your spouse own your home as tenants by the entirety, it could offer significant protection. This type of ownership generally shields your home from creditors if only one spouse files for bankruptcy. However, there are exceptions and complexities. Don't leave your home's fate to chance! Consult with a qualified bankruptcy attorney to understand your#bankruptcyb#realestater#tenancybytheentiretyh#Illinois #HomeProtectionP#bankruptcyb#Exemptionse#leederslawleederslaw ... See MoreSee Less

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Leeders Law

3 months ago

Can you discharge income tax debt in bankruptcy? The answer isn't always simple. Some income taxes may be dischargeable, while others are not. Factors like the age of the tax debt and whether returns were filed play a role. Want to learn more about how bankruptcy could impact your tax obligations? Contact a bankruptcy attorney for a consultat#bankruptcyu#taxest#incometaxm#DebtReliefel#askalawyera#bankruptcydischargeh#leederslawrslaw ... See MoreSee Less

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Leeders Law

3 months ago

Stop using credit cards if you are trying to get out of debt. Compounding interest is a powerful force that can work in your favor or against you. When it comes to credit card debt, compounding interest can be a major problem.Here's how it works:The Basics: When you make a purchase with a credit card, you're essentially borrowing money from the credit card company. The interest rate on your credit card is the cost of borrowing that money.Compounding: If you don't pay off your entire balance each month, the interest on your debt will start to compound. This means that you'll be charged interest on not only your original balance, but also on the interest that you've already accrued.The Spiral: The longer you carry a balance on your credit card, the more interest you'll pay. This can quickly lead to a situation where you're paying more in interest than you are in actual purchases.Here are some of the dangers of compounding interest on credit card debt:It can make it difficult to pay off your debt. The more interest you pay, the less money you have available to pay down your principal balance. This can make it seem like you're never going to get out of debt.It can damage your credit score. A high credit card balance can negatively impact your credit score, making it more difficult to get approved for loans in the future.It can lead to financial stress. Dealing with credit card debt can be a major source of stress and anxiety.If you're struggling with credit card debt, there are a few things you can do:Make a budget. This will help you track your spending and identify areas where you can cut back.Create a debt repayment plan. This could involve consolidating your debt into a lower-interest loan or using the debt snowball method.Talk to a financial advisor. A financial advisor can help you develop a plan to get out of debt and improve your financial situation.File a bankruptcy to get a fres#bankruptcya#creditcarddebto#interest-#chapter7a#leederslawreditcarddebt #interest #chapter7 #leederslaw ... See MoreSee Less

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foreclosure

Deeds and Homeowner Association Fees – Bankruptcy Home Blog

Rapid Fire Q&A

Chapter 13

Foreclosure and bankruptcy