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 […]
Why You Should Always Disclose Injury Lawsuits In Bankruptcy Read More »
There are two ways to keep an asset in a Chapter 7 Bankruptcy case. The first is when the asset has no equity, or value. This mainly applies to assets with secured debt payments remaining. In this case, if the fair market value of the asset (such as a car) minus the amount owed on
Illinois Chapter 7 Bankruptcy Exemptions: Keeping What You Own Read More »
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