Steven Grace Law

Author name: Steven J. Grace

Steven J. Grace, Attorney at Law, has been providing honest, reliable legal guidance to everyday people in Chicago since 2009. With over 15 years of experience, Steven has helped hundreds of individuals from all walks of life navigate complex financial challenges and get back on track. He takes pride in his reputation as one of the few truly "honest lawyers" and genuinely sees himself as one of the good guys. In addition to his legal practice, Steven is a skilled financial blogger, combining his extensive bankruptcy expertise with a knack for crafting content that's not only easy to understand but also deeply relatable. Whether in the courtroom or online, Steven is dedicated to making complicated financial topics accessible to everyone.

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Protecting Tax Refunds in Bankruptcy: Chicago Attorney’s Guide

As tax season approaches, individuals looking to file bankruptcy in Illinois must carefully consider the impact of their tax refunds on the bankruptcy process. This blog post will guide you through some of the strategies I have learned for protecting tax refunds in both Chapter 7 and Chapter 13 bankruptcy, offering insights to safeguard this […]

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Trapped in a Payday Loan DebtCycle? Get Help & Find Financial Freedom in Chicago

Introduction In times of financial distress, I have seen many individuals turn to payday loans as a quick solution to meet immediate expenses. Unfortunately, these short-term, high-interest loans often lead borrowers into a cycle of debt that becomes increasingly difficult to escape. While Illinois law has taken significant steps to address predatory lending practices, payday

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Discharging Tax Debt in Bankruptcy

Don’t Hide from the Taxman: Why Filing Your Return is Crucial, Even If You Owe

Owing the IRS doesn’t exactly inspire joy. Tax season can be stressful enough, but throw in a hefty bill, and things can feel overwhelming. The temptation to bury your head in the sand and avoid filing altogether might be strong, but resist it. I have found that not filing your taxes, even if you owe,

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locks that symbolize the asset protection of tenancy by the entirety

Tenancy by the Entirety in Bankruptcy: Protecting Your Home in Tough Times

Tenancy by the entirety offers married couples in Illinois strong protection for their homes, shielding the property from being sold to satisfy a judgment against only one spouse. While creditors can record a lien on a debtor spouse’s contingent future interest, such as the right of survivorship, this lien is unenforceable as long as the tenancy remains intact. However, creditors may assert claims against the property in probate if the judgment debtor predeceases their spouse. For those facing financial difficulties, bankruptcy often provides a more definitive solution, potentially removing liens and resolving debts efficiently while protecting the home.

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Multiple Bankruptcy Filings: Navigating the Fine Print

Navigating the complexities of bankruptcy laws can be daunting, especially for individuals considering a second or third bankruptcy filing. If you’ve already utilized either Chapter 7 or Chapter 13 to tackle debt, understanding the eligibility and limitations for refiling becomes crucial. This post delves into the nitty-gritty of multiple bankruptcy filings and the intricacies of

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