Illinois Lawyer Referrals and Legal Guidance
Debt in Illinois Bankruptcy Cases
Findgreatlawyers.com is a free service, run by Illinois lawyers, to find an attorney or obtain guidance for any Illinois legal matter, including bankruptcy. Our founding attorneys are Chicago lawyers and we are able to help people throughout Illinois with all sorts of bankruptcy related issues. We will talk to you for free and answer your questions. If needed we will also recommend a lawyer for you. We don’t guarantee a result, but we will treat you like a family member or a friend. If you would like our help please call us at (312) 346-5320 or (800) 517-1614 or fill out our contact us form and we will contact you. All inquiries are kept in strict confidence. For general information about debt in Illinois bankruptcy cases please read on.
Dischargeable Debt
It is important to know what debt is dischargeable and what is not. In most cases, it may be recommendable to maximize payments on debts that will not be able to be discharged and to stop paying on debts that are dischargeable.
In regard to credit cards there are specific rules that apply to what may and may not be considered dischargeable. Anything considered to be fraudulent is not dischargeable. Cash advances on credit cards consisting of over $1075 made within 60 days before the case is filed are presumed to be fraudulent. If you did not have the intent to pay the bill when you made the charge on the credit card then it will be considered non-dischargeable debt. Charges made after you decide to file for bankruptcy and charges made after meeting with a bankruptcy attorney will be considered non-dischargeable.
It is important to speak with an attorney in regards to what debt may be discharged and what may not especially when considering credit card debt, taxes and loans.
Exemptions
Exempt property is what the law allows each individual to keep in order to have a "fresh start" after filing bankruptcy. When filing a Chapter 7 bankruptcy, most of the time individuals do not have to worry about losing their personal possessions and household goods. Used goods have little resale value and the system allows debtors to retain their means of day-to-day living.
Findgreatlawyers.com focuses on finding lawyers in every part of the state of Illinois. From Chicago to Rockford, to Central Illinois, down to Southern Illinois, and every county in between. Whatever the legal area or location within the state of Illinois, we know the perfect lawyer for you Please call us at (312) 346-5320 or (800) 517-1614 or fill out our contact us form and we will contact you. All inquiries are kept in strict confidence.