Are there any disadvantages to having your corporation be administratively dissolved, if you don't want continue the business?
Karen's answer
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Answered on August 06, 2014
It is best to make a decision about the future of the business. The administrative dissolution happened because of the failure to file the annual...
Archived
In a bankruptcy case, what happens to money received from a workmans comp claim
Karen's answer
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Answered on August 05, 2014
The proceeds from worker's compensation are exempt under illinois law. Creditors cant take those funds and the funds are exempt in bankruptcy cases,
Archived
If my bankruptcy is going to discharge in March. Can I add or "strip" my second mortgage?
Karen's answer
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Answered on August 04, 2014
Underwater does not equal the right to strip a mortgage lien. There are provisions that prevent the strip down or strip off of a mortgage that...
Archived
Do you have to pay repossession fees under chapter 7 to get your vehicle back from a title lender?
Karen's answer
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Answered on August 04, 2014
If the lender is willing to give you the car back, you will be required to reaffirm the debt. In order to reaffirm the debt you will have to...
Archived
Is it too late to file a emergency motion to vacate a judgement of foreclosure if the sale is in a few days
Karen's answer
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Answered on August 01, 2014
It will not help to contact the banks attorney. You cannot save a house after the sale. Those that try rarely succeed. If you want to keep your...
Archived
Can I get arrest?
Karen's answer
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Answered on July 30, 2014
Please do not worry about being arrested. You cannot get arrested because you cannot pay a debt. It sounds like you have your hands full getting...
Archived
Will bankruptcy be granted if the non-custodial parent is not current on child support payments?
Karen's answer
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Answered on July 28, 2014
Child support in chapter 13 cases is a domestic support obligation that receives special treatment. The past due child support must be paid in...
Archived
Is intentionally overstating the number of dependents, living in your household, on a Chapter 13 bankruptcy form a crime?
Karen's answer
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Answered on July 28, 2014
Does he owe child support? Is it court ordered and unpaid. You may have a claim as well as the issue raised by the false information. Please...
IL Bankruptcy Exemption question for Chapter 7.
Karen's answer
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Answered on July 28, 2014
The issue would be who owns the car. If only one spouse owned and drove the car, a trustee could argue only one exemption for a vehicle could be...
Archived
I have rental properties that have gone into foreclosure. The bank filed foreclosure and also filed for prejudgment
possession
Karen's answer
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Answered on July 23, 2014
Please consider hiring experienced legal counsel. It is difficult for skilled experienced lawyers to prevent the appointment of a receiver when a...