Common Debt Time Limits in Illinois & How Bankruptcy Can Help

Are you tired of constant calls and letters from creditors? At Borcia Adams Law LLC, we help clients across Illinois find relief through Chapter 7 and Chapter 13 bankruptcy. Filing for bankruptcy can immediately stop creditor harassment and give you a fresh financial start. Common Debt Time Limits in Illinois Illinois law sets statutes of […]

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Chapter 13 Chapter 7 Debt Collection Statute of Limitations
 

Struggling With Debt? Bankruptcy May Be the Fresh Start You Need

Credit card debt and other financial struggles can creep up quickly. Maybe your hours were cut or you lost your job. Perhaps you were trying to keep a small business afloat. Unexpected medical bills, divorce, or simply the rising cost of living can also push families over the edge. Whatever the cause, debt can spiral

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Bank Bankruptcy Car Chapter 13 Chapter 7 Credit Card Medical Bills Wage Garnishments Wages
 

The Benefits Of Chapter 13 Repaying 100% To All Creditors

Often individuals with a heavy debt load want to file Chapter 7 but find out they can’t. There is a Means Test. Many middle-income folks are “high earners” in Bankruptcy Land. What  this means is the income in the family exceeds certain thresholds. I  have a blog that explains the Means Test in greater detail. SO WHAT

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Chapter 13 Video
 

Reorganizing An Individual’s Business Under Chapter 13

An individual business can reorganize through a Chapter 13. The one  limitation is that secured debts must be under $1,184,200 and unsecured  debts must be under $394,725. If the debts exceed these amounts the  individual will have to file a Chapter 11 to reorganize the business. The benefits of a Small Business Chapter 13 The

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Chapter 13 Video
 

What Is Reorganization Under The Bankruptcy Code?

For reorganizations there are 2 main Chapters available: Chapter 13  and Chapter 11. Only an individual may file a Chapter 13. High amounts  of debt can push an individual into Chapter 11. Corporations and  partnerships must file Chapter 11, although there is a provision for a  small business Chapter 11 with slightly different procedures from

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Chapter 13 Reorganization Video
 
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