Blogs - Robert J. Adams & Associates
Robert J. Adams & Associates

Blogs


Common Myths And Lies About Consumer Bankruptcy
July 9, 2018

Man good folks who are deep in debt avoid or defer filing for Bankruptcy. Why? They hear and read lot of misinformation and lies. Special interest groups such as banks fight against filing Bankruptcy. Why? If they can prevent you from filing bankruptcy or delay it they will able to squeeze more money out of you. Bankruptcy is a serious matter. The best way to find out what is best for you: talk to a lawyer. Consumer Bankruptcy lawyers generally offer free and confidential advice. I know that our firm, ROBERT J. ADAMS & ASSOCIATES does. We do this every… Read More

What Are The Payday Loans And Title Loans?
July 6, 2018

Payday loans have extraordinary interest rates that people do not realize. Also, payday lenders will often lie and say you cannot file a bankruptcy to discharge their debt. That is not true. A payday loan is a general unsecured debt: so they can be wiped out in a chapter 7. Title loans take security interest in your car. If you wish to keep the car, you can go into a chapter 13 bankruptcy and bifurcate the loan, or cram it down to the value. What does that mean? Here is an example: if you have a car that is worth… Read More

Who Must Take The Means Test Prior To Filing A Bankruptcy?
July 6, 2018

All individuals have to take a means test before filing a bankruptcy, and if their income, depending on the number of individuals in the family, exceeds a certain amount, the presumption is they cannot file a chapter 7. However, there are multiple deductions that can be taken from the gross income to show that the individual qualifies for a chapter 7, rather than doing a chapter 13. What Are Some Of Those Most Common Deductions? The most common deductions are secured debts, like mortgage arrears, real estate taxes, car loans, child support, child care, income taxes, health insurance, and life… Read More

How Do Parking Tickets And Arrests Contribute To Debt Situations?
July 6, 2018

The city of Chicago is aggressively looking for infractions on parking meters and red light cameras. When people cannot pay immediately, these fees and fines are doubled. People then cannot possibly catch up. Parking tickets and red light tickets are not dischargeable in a chapter 7 bankruptcy, but are dischargeable in chapter 13. We frequently do chapter 13 cases for as little as $100 per month. Can Filing For Bankruptcy Help Me Discharge Or Repay Fines? Filing a chapter 13 bankruptcy can help you repay fines. Generally, we use a very low dividend, such as ten percent. So, if you… Read More

What Is The Current Bankruptcy Offer On Your Website?
July 6, 2018

We are offering to file chapter 7 bankruptcy for as low as $600, plus the filing fee. We can even do installment payments on our attorney’s fees if necessary. As far as chapter 13, for qualifying wage earners, we can file for a very low down payment. Sometimes Do You Find That What Keeps People From Even Filing For Bankruptcy Is The Fear Of Not Being Able To Afford To File For Bankruptcy? People assume they cannot afford to file for bankruptcy. That is why we have lowered our fees and offered installment payments. For more information on Bankruptcy Offer… Read More

Beat The Means Test
April 19, 2018

The law imposes what is called a Means Test for individuals filing Bankruptcy. While the intent of the law is to deter, prevent or delay the filing of a bankruptcy, that is where we come in to defeat the test so good people can file a Chapter 7 or at least a low cost Chapter 13. Everyone has to take the Means Test. For most it is only a simple exercise but for some it presents a challenge. Fortunately experienced and skilled lawyers know and understand the test. The lawyers at Robert J Adams & Associates know how to defeat… Read More

CAN I DISCHARGE TAXES IN BANKRUPTCY?
March 1, 2018

IRS debts can often be discharged in a Chapter 7. IRS debts in a Chapter 13 can often be paid a dividend of less than 100% The following set out the rules to discharge an IRS debt in Bankruptcy: You filed the Income tax return. At times the IRS files substitute returns when an individual has failed to file. Another name for this is Service Filed Returns. The amounts due on IRS filed returns are not dischargeable. The tax is for income-an income tax. You cannot discharge payroll taxes or if fraud is involved. The tax debt is at least… Read More

File Bankruptcy And Rebuild Your Credit
February 20, 2018

There are times when filing Bankruptcy is obvious such as when there is a traumatic event: Wage Garnishment; repossession, law suits, foreclosure, license suspension for parking tickets. For many others there are struggles and doubts. Should I file? Or, should I hold on? Filing for Bankruptcy is an individual decision. All a good lawyer can do is to show you the options. Some of the deterrents to filing Bankruptcy and getting financial freedom are doubts about the future. Will I ever be able to get credit again? What about my credit score? First, by yourself or with the aid a… Read More

Stop Wage Garnishments
February 6, 2018

In Illinois creditors can get up to 15% of one’s gross wages-not net wages. If those wages are $500 per week gross; net $450: they take $75. The filing of a Chapter 7 or a Chapter 13 bankruptcy can stop wage garnishments. Most lawyers practicing in Consumer Bankruptcy can file a Chapter 7 or Chapter 13 rapidly: generally the same day. The lawyers at ROBERT J. ADAMS & ASSOCIATES do this regularly. To start a Chapter 7 or Chapter 13 the down payment is generally very small and, in some instances, with NO MONEY DOWN. For a more detailed explanation on how Wage Garnishment can affect, Click… Read More

Save Your Home; Stop Foreclosure
February 1, 2018

Mortgage companies in Illinois will proceed with a foreclosure at some point when a homeowner falls behind on payments. Probably the most effective way of stopping or preventing a foreclosure is filing Chapter 13. The basic requirements are Being able to resume regular monthly mortgage payment; Being able to repayment the arrearages and the mortgage company’s cost over a period of up to 5 years; and, Having a sufficient amount of income to meet your other living expenses. Robert J. Adams and Associates stands ready to help and when necessary can file a case with the court even the same… Read More