Blogs

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: https://www.robertadamslaw.com/beat-means-test/ So what do you do if a lot of debt; and income above the threshold? I often talk to good folks with situation frequently. And, we discuss what happening in their life. They tell me they are juggling their debts. Stealing from Peter to… Read More

IRS debts can be discharged in a Chapter 7. Eliminating Tax Debt in Bankruptcy 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. The tax debt is at least 3 years old. Generally, the due date is April 15th. If April 15th falls on a Saturday… Read More

Did you ever park your car to run into a store for a few minutes? You come back out and find a big fat Chicago Parking ticket on your windshield. It has happened to me. Ruins your day! Accumulated parking tickets are a major headache; license suspension; being “booted”; cars impounded. If the tickets go to a collection lawyer it can be a bad mark on your credit; and, even a lawsuit and wage garnishment. How dangerous is a license suspension? A recent survey: half the people lose a job or can’t get a job. People often don’t know that… Read More

Bankruptcy laws say you have to do a Means Test. You are to list the gross income in family for the past six (6) months. The total is compared to the Illinois State Standards. If your gross family income is above a certain amount they want you to file a Chapter 13 instead of a Chapter 7. Most people have income below the Means Test. Everyone has to take the Means Test. For most it is only a simple exercise but for some it presents a challenge. Even if your gross income is above the income listed below there are… Read More

You’re in a hurry, trying to run one quick errand during lunch before rushing back to the office for your busy afternoon – you stop for just 5 minutes to pick up dry cleaning and on your way out – OH NO, there it is… that all too familiar, dreaded paper notice sits under your windshield. You have a Chicago parking ticket. Whether it’s due to illegal parking in a restricted zone, or an overstay at your meter, Chicago parking tickets can not only ruin your day, but if left unresolved they can jeopardize your driving privileges, or worse. Unpaid… Read More

The New “Fresh Start” Payment Plan It is possible to discharge all or some Chicago Parking tickets in Chapter 7? Yes! (Sorta) This applies to: PARKING TICKETS; RED LIGHT TICKETS; STANDING COMPLIANCE; AUTOMATED SPEED ENFORCEMENT (CAMERAS); AND, AUTOMATED TRAFFIC LAW ENFORCEMENT (CAMERAS). Filing Chapter 7: eliminate tickets older than 3 years old as of the date of the filing. What About Newer Tickets? (Less Than 3 Years) The original amounts. The increase penalties will be gone. The resulting balance has to be repaid over a period of time. Ticket fines double when not paid. A $60 ticket becomes $120; a… Read More

Everything You Need To Know For Debt Attorney In Chicago It an alarming situation when your bills are piling up and you do not have the means to pay them. Considering our current economic environment, it is not possible for the debt to spiral out of control. However, if you find yourself in this sludge, then it is advisable to find possible alternatives that can help you in getting out of this myriad. Debt settlement is one of the viable options for you among so many. To do so, it is imperative to consult with and hire an experienced debt… Read More

Can you get rid of parking tickets in Chapter 7? Yes, if more than 3 years old This applies to red light tickets, too. License suspended for parking tickets and/or red light tickets: RESTORED Extra charges on tickets less than 3 years will be waived: pay only principal The city will work out a repayment plan for tickets less than 3 years old. You must complete the repayment program for tickets less than 3 years. Then the city will waive all fines, penalties, including boot and impound fees. Chapter 13 still available if it works out best for you. Can… Read More

You wake up in the morning to get into your car and it is gone. You call the police only to find out it was repossessed. What do you do? Assuming you don’t have all the money to get your car back and you want and need your car. In such a scenario, hiring an experienced Chicago car repossession attorney is one easy solution, who can help you in filing a Chapter 13 bankruptcy to reschedule your debt payment, so that you can save your asset. WHAT A CAR REPOSSESSION ATTORNEY IN CHICAGO, IL CAN DO FOR YOU An experienced… Read More

(contracts, medical bills, repossession, credit cards, purchases, etc.) Creditors can pursue individuals for a limited period of time. This article sets out some of the more common time limits: In general, written contracts (see footnote)1: 10 years Oral contracts: 5 years Sale of goods (automobiles, furniture, natural gas): 4 years Store Credit: 4 years Credit cards in Illinois: 5 years Bad check penalties: 2 years Checks other than bad debt penalties: 3 years Money judgments: 7 years but can be revived up to a total of 27 years. Parking tickets and red light tickets: does not seem to have any… Read More