In this article, we explain how to avoid filing for bankruptcy in bad faith in Illinois and answer the questions: What constitutes filing for bankruptcy in bad faith?, What are some common bad faith filing mistakes to watch out for?, and What factors do the courts consider when evaluating bankruptcy filings for bad faith?
November 21, 2024
Before you consider filing for bankruptcy a consumer should consider all of their options. Obtaining a copy of their credit report will help to discover any and all debts that they owe. You must list all of your assets and all of your liabilities in your bankruptcy petition. But not all debts can be “discharged” or forgiven in bankruptcy.
This article will discuss and answer:
September 5, 2024
Filing for bankruptcy in Illinois doesn’t mean you’ll lose everything and end up living in a cardboard box underneath a bridge. The process is designed so that the individual or business owner can get back on their feet and continue living their life in much the same fashion as before but with a newfound understanding of how to avoid debt and better manage monthly expenses. Many of your assets can be exempt from bankruptcy, allowing you to keep your house, car, and business property.
September 5, 2024
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