Bankruptcy Archives | Steven Grace Law

person having issues with online payments

Losing Online Payment Options During Bankruptcy

Filing for bankruptcy can provide a fresh start and relief from overwhelming debt, but it also comes with unexpected challenges. Losing access to online payment portals and automatic payments can disrupt your daily routine, making it harder to manage bills and finances. Even those who share accounts with someone filing for bankruptcy may face similar issues. This article explores these common disruptions and provides practical tips to help you navigate them with confidence.

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Challenging Standing in Illinois Foreclosure Cases

Bankruptcy / Steven J. Grace

If you’re facing foreclosure in Illinois, one of the most important things you should understand is whether the lender has the right to foreclose on your home. This is called standing. In simple terms, standing means the lender must prove that they have the legal authority to take your house because you haven’t paid your

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Fraudulent Conveyances and Bankruptcy

Asset Protection, Bankruptcy / Steven J. Grace

I frequently receive inquiries about whether transferring a house into a friend’s name before filing for bankruptcy is a viable strategy. Beyond the severe risks of bankruptcy fraud, there are other crucial considerations. A Chapter 7 or Chapter 13 bankruptcy trustee has the authority to invalidate such transfers, potentially selling the property and distributing the

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Why You Should Always Disclose Injury Lawsuits In Bankruptcy

Bankruptcy, Exemptions / Steven J. Grace

A question that often comes up in my practice is whether lawsuits, potential lawsuits or other types of legal claims need to be disclosed on a bankruptcy petition. The resounding answer to this question is definitely yes. In fact, if you leave off an injury or workers compensation lawsuit it will probably end up hurting

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photo of verizon cell phone in bankruptcy

Verizon Payments and Your Chapter 7 Bankruptcy Case

Bankruptcy, Payment Plans / Steven J. Grace

If you’ve recently filed for Chapter 7 bankruptcy and are a Verizon customer for cellular or internet services, you may have received an email regarding your payment options during bankruptcy proceedings. In it, Verizon Wireless lists the devices subject to purchase money security interests, providing specific details including agreement numbers, dates, device models, amounts financed,

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Extending the Automatic Stay in Multiple Bankruptcies

Automatic Stay, Bankruptcy / Steven J. Grace

The automatic stay is a key motivator for individuals filing for both Chapter 7 and Chapter 13 bankruptcy, often shaping when they choose to do so. The automatic stay is mostly utilized in Chapter 13 filings due to its ability to prevent vehicle repossession, wage garnishment, and home foreclosure for up to 5 years. Because

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Motions to Compel Turnover: Retrieving Repossessed Vehicles

Bankruptcy, Repossession / Steven J. Grace

If you’ve ever faced the stress of a vehicle repossession, you know just how urgent the situation can become. Chapter 13 bankruptcy can offer a way to regain possession of your vehicle, but time is of the essence. Acting swiftly is crucial before your lender auctions off the vehicle, as once it’s sold, retrieval becomes

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How to Get a Repossessed Car Back in Illinois

Bankruptcy, Repossession / Steven J. Grace

If you find yourself in the unfortunate situation of having your vehicle repossessed due to missed payments, bankruptcy can offer a potential lifeline to regain possession. This article aims to clarify the specific provisions of each chapter of bankruptcy to help you get your car back ASAP. Understanding these legal avenues can empower you to

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Bankruptcy Preparation Guide: Documents You Need to Know

Bankruptcy / Steven J. Grace

When filing for Chapter 7 or Chapter 13 Bankruptcy, you’ll need to furnish your attorney with several documents, which may vary based on factors such as your assets, income, and individual circumstances. Accuracy is important from the start to steer clear of complications and potential issues with the Bankruptcy Trustee moving forward. Here’s a rundown

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image signifying the keys needed to unlock wage garnishments

Illinois Wage Garnishment Laws

Asset Protection, Bankruptcy / Steven J. Grace

A wage garnishment, also known as a wage attachment or wage deduction, is Court order that instructs your employer to withhold a specific amount of money from your paycheck and send it directly to a creditor. In most cases, a creditor cannot garnish your wages without obtaining a court-issued money judgment first. For example, if

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