First of all, what is a small business? The SBA has a definition: companies with sales of up to $6 Million and construction companies up to $28.5 Million. To the average person, that is not a small business. Also, many SBA “small businesses” are subsidiaries of big Corporations. This article speaks to what the average person would consider a small ...
In 2020 over 31,000 people filed for bankruptcy. Some filed Chapter 7 to get a discharge of debts and a "FRESH START." Others filed Chapter 13 to manage their debt load with one monthly payment. Have you decided or are you still mulling the possibility of filing Bankruptcy?
When considering Bankruptcy, people ask questions. What about things I own? Will I lose my house or my car? Will I lose my furniture? This article discusses only one thing. What is the impact for Illinois residents on assets-the things I own?
Our bankruptcy attorneys are dedicated to providing reliable legal guidance to individuals and businesses facing difficult tax-related issues, including tax debts and IRS levies. Our team will fight hard to protect your rights, negotiate with the IRS, and help you pursue the best possible deal or payment arrangement with the IRS.
CAN I BUY A CAR AFTER I FILE CHAPTER 7 BANKRUPTCY? CAN I GET AN AUTO LOAN AFTER I FILE CHAPTER 7 BANKRUPTCY? To the first question: Yes. You can buy a car even on the date you file Chapter 7. About the second question: Yes, you can get a car loan after filing Chapter 7. But, you have to ...
When you’re in financial trouble, filing for bankruptcy can be one of the options to get help. A very common question that comes up about bankruptcy in Illinois, is “Will I lose my house?” It makes sense that you want to hold on to your house. At Robert J. Adams & Associates, we offer help to individuals and business owners ...
You are considering Bankruptcy. What will happen to my car?
Bankruptcy laws say you have to do a Means Test. You must list the gross income in your family for the past six (6) months.
Have you decided to file for bankruptcy? Or, do you want to look into exploring your options? An experienced bankruptcy lawyer can help you understand how bankruptcy works.
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%
