Call Today 847-986-8862
Law Office of Paul R. Idlas
Bankruptcy Attorney For Lake County, Illinois, And The Surrounding Area

Grayslake, Illinois, Bankruptcy Law Blog

Bankruptcy: can you keep your house?

Declaring bankruptcy sounds scary, and many people worry that they will lose everything if they do. However, bankruptcy was designed to help you. The government wants to pull you out of financial trouble and help you make a fresh start. Therefore, they allow you to keep a number of items that are considered necessities. At the same time, extravagant items may be taken away or simplified. So what does that mean for your current house?

 

Could a tax refund also mean bankruptcy?

The first three and a half months of the year are big for the tax industry, but could it also be big for bankruptcy too? Tax refunds are often used by people as a way to catch up on bills, but for those too far behind, it could provide the resources to pay the legal fees associated with bankruptcy.

Marriage and financial stability often go hand-in-hand. The divorce rate spikes from January to March, so it may be no surprise then to learn that the rate of bankruptcy filings rises at the end of tax season. Like a marriage, finances can reach a breaking point too. But, like a divorce, bankruptcy can be a fresh start for people in debt.

Bankruptcy and Child Support: Important Facts

No matter how much money you make, going through a divorce can be financially devastating and may leave you needing to file for bankruptcy. You never thought you'd be in this position but after the divorce was finalized your financial status drastically shifted and on top of it all, you're now required to make monthly child support payments.

Get Bankruptcy Help Today

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Review Us