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

Blogs


What Is A Chapter 7 Bankruptcy Case And What Do I Need To Get Started?
October 7, 2019

People file Chapter 7 bankruptcy to get a discharge of debts. At the end of the Chapter 7 you don’t owe the money anymore. Of course, not all debts are dischargeable. For instance: A car note for a car you want to keep. Same for a home mortgage; Student Loans; Child support payments; parking tickets and tollways debts; Income tax debts. But, some IRS debts are dischargeable; Co-debtors nor Cosigners receive a discharge in your Chapter 7. Also, creditors can file a complaint to except a debt from discharge. This is rare. A competent lawyer looks for problem areas and… Read More

How To Pay Off Credit Card Debt In A Chapter 13 Bankruptcy And Save Thousands Of Dollars?
October 2, 2019

With large credit card and other unsecured debts, Chapter 7 is the best option. But, sometimes Chapter 7 is not available to you. Or, Chapter 13 is the best option: like saving your car or your house. People ask how much they have to pay their credit card bill in Chapter 13. Chapter 13 plan propose a “dividend” to unsecured creditors. The dividend is the percentage that unsecured creditors will get. A plan with a 10% dividends means the unsecured creditors will get ten cents of the dollar of its filed claim. If the unsecured filed claims are $30,000 the… Read More

What Are The Different Types Of Claims In Bankruptcy?
September 30, 2019

There are 3 basic types of claims in Bankruptcy for folks: Secured claims; Priority claims; and General unsecured claims. Secured Claims A secured claim is one where the creditor has a lien on a property in your possession. A secured claim can be by agreement; by law; or by recording a lien. By agreement. The most common types include mortgages, cars, and even furniture. The individual agrees that the creditor has a lien on certain property as well as on the note. By law. This would include real estate taxes. By recording. Creditors who get a money judgment can record… Read More

The Benefits Of Chapter 13 Repaying 100% To All Creditors
July 2, 2019

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

Chicago Parking Tickets – Things You Should Know About
April 10, 2019

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

Chicago Parking Tickets: An Overview (Including Important Information On Red Light And Camera Tickets)
March 26, 2019

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

Chicago Parking Tickets
March 13, 2019

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

Debt Attorney In Chicago
February 8, 2019

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

Beep! Beep! Parking Tickets And Chapter 7
January 10, 2019

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

Automobile Repossessions – How To Get Your Car Back
December 17, 2018

You wake up in the morning, get ready for the day, and start heading toward your car… only to find that it’s not there. You call the police, only to be told it’s been repossessed. What do you do? You don’t have the money to get your car back, but you rely on it every day. Under such circumstances, the easiest solution and wisest decision would be to hire an experienced Chicago car repossession attorney. An attorney will be able to help you file for Chapter 13 bankruptcy to reschedule your debt payment and thereby save your assets. What A… Read More