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Illinois Bankruptcy Questions & Answers

2 Answers | Asked in Bankruptcy, Family Law and Child Custody for Illinois on

Q: I owe my child custody lawyer over 16k... can i file for bankruptcy, either chapter 7 or 11 ti wipe out this debt?

Ive paid over 8k. I have nothing left

Timothy Denison answered on Sep 7, 2019

Yes. Chapter 7 could wipe it out.

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1 Answer | Asked in Bankruptcy for Illinois on

Q: Can I give my brother a car after he filed Chp 7 in Illinois without it adversely affecting his eligibility?

If gift of car does not cause a problem, is there a recommended time to do so- such as after his meeting? Does he have to notify the court upon receipt of the gift? What steps do we need to take to ensure he doesn't mess-up his eligibility? Thanks.

Timothy Denison answered on Aug 30, 2019

Yes you can give it to him. No, youdonot have to notify the Court. Simply transfer the car into his name.

2 Answers | Asked in Bankruptcy for Illinois on

Q: Is there any possible way to successfully discharge student loan debt in a bankruptcy or is it nondischargeable?

Cristina M. Lipan answered on Jul 12, 2019

If you can be found disabled by social security, otherwise not really.

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1 Answer | Asked in Bankruptcy for Illinois on

Q: As of right we have called the bank and they have it in the bankruptcy section. Is this going to affect us?

Timothy Denison answered on Jul 8, 2019

Should not so long as you keep making the payments.

2 Answers | Asked in Bankruptcy for Illinois on

Q: What happens to a credit score of a second signer on a car if the first signer files bankruptcy?

Father in law was the main signer on our car. He has filed bankruptcy and my husband was the second signer. What happens to my husbands credit score if they end up taking the car in the bankruptcy?

Timothy Denison answered on Jul 8, 2019

You will have the option of continuing to pay and keeping the car even though the main signer filed bankruptcy. As long as you continue to pay for the car, husbands credit will not be affected.

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1 Answer | Asked in Bankruptcy for Illinois on

Q: Should I have been listed in my ex wifes bankruptcy?

Ex wife filed bankruptcy but did not list me on a joint mortgage. She listed herself as sole owner, I was awared the home in our divorce and have lived here for 5 years (she refuses to quit claim like ordered and I cannot refinance at this time)

Should I have been listed as also owning the... Read more »

Timothy Denison answered on Jul 7, 2019

Yes. You should have been listed as a codebtor and creditor. Hire a competent bankruptcy attorney to rvaluate you options and protect your interest.

1 Answer | Asked in Bankruptcy for Illinois on

Q: My mother has recently filed chapter 7. She has paid on a life insurance policy covering my father,

And he has more recently passed. She is listed as primary and I am listed as contingent beneficiary. Is there any way I can fight to keep the proceeds of the policy from becoming property of her bankruptcy estate? We have located a spendthrift clause within the insurance policy but are unsure of... Read more »

Timothy Denison answered on Jun 12, 2019

You need to have an attorney RE ire the policy, probably her bankruptcy attorney. You may be able to exempt some or all of the policy.

2 Answers | Asked in Bankruptcy and Collections for Illinois on

Q: debt collection

ok i have old balance since 2012 debt with protofollio recovery,i got garnished where lawyer fees and 75$ garnishment fee included so its exceded 15% of my pay check,yet after 7 month of garnishment i got fired,then after a year this protofolio recovery wants to start again with the same balance... Read more »

Bruce Alexander Minnick answered on May 9, 2019

This question (or rather, these questions) are to complex and convoluted for anyone to make sense out of. I suggest you get someone to help you compose a legible explanation in chronological order, eliminating unnecessary commentary and then post it as a new question(s).

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2 Answers | Asked in Bankruptcy for Illinois on

Q: Can I have my chapter 13 dismissal because of a missed tax form reinstated

Ray Choudhry answered on Apr 16, 2019

"missed tax form reinstated"

What do you mean.

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3 Answers | Asked in Bankruptcy for Illinois on

Q: You: Hello. I filed for chapter 7 in March but filed my 2015,2016,2017 ammendment from IRS. What happens to the money..

Im expexting over 6k back

Timothy Denison answered on Mar 31, 2019

If you have exemptions left, you may protect some or all of it with your exemptions. If not, the trustee will likely distribute it to your unsecured creditors. You should discuss this with your babktmruptcy attorney immediately.

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2 Answers | Asked in Bankruptcy for Illinois on

Q: Personal Bankruptcy Question

My wife and I found ourselves in a considerable amount of debt in the last year because I had to take time off from my job and recuperate from surgery that I had. We just couldn't keep up with everything with the small amount of income that was coming in. We tried to do the right thing and create a... Read more »

Ray Choudhry answered on Mar 29, 2019

What you did was give away an asset that belonged to you prior to filing bankruptcy.

Giving away the house is no different than giving away money or stocks and bonds.

The Trustee has a right to get that house back and sell it to pay the creditors.

The Trustee won't have to...
Read more »

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1 Answer | Asked in Bankruptcy and Foreclosure for Illinois on

Q: How long do I have if I'm being ejected from my house that got foreclosed on I just found out on this site.

Timothy Denison answered on Mar 16, 2019

It can vary from 30 to .180 days

2 Answers | Asked in Bankruptcy for Illinois on

Q: Can I file after the sell of mortgage free home approx a year ago? Home was sold to son for fair market value.

We used money from sell of home to pay debt, work on and furnish a home we have financed. We are buried in debt now and went from 2 job household to one job household. We could afford pmts on home the house and a vehicle and that is it.

Timothy Denison answered on Mar 2, 2019

If you sold it to your son for the true market value, the answer is yes. However, if it was not a legit arms kength transaction, you should not file before consulting a competent bankruptcy attorney.

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1 Answer | Asked in Bankruptcy for Illinois on

Q: Reaffirmed my car and car is now trash . I'm stuck paying a car that's useless.What can i do?

I filed Chapter 7 Jan 2018 . I did have a vehicle at the time (Used vehicle) i got in 2017. I wanted to keep because i needed transportation. The car is not good and costs thousands of dollars to fix and i no longer want or can afford. Is there anything that i can do to change that reaffirmation... Read more »

Timothy Denison answered on Feb 15, 2019

Unfortunately, if you reaffirmed the debt, you’re stuck paying it unless you can. Egotists some kind of settlement with the lender. Consult your bankruptcy attorney for options but I think you’re going to have to pay for it.

3 Answers | Asked in Bankruptcy and Traffic Tickets for Illinois on

Q: What usually happens when your found guilty of driving on a suspended license due to a judgment? What's the sentencing?

Juan Ooink answered on Feb 7, 2019

Your question is really not that clear. If a judgment has been entered against you for a Driving on Suspended Ticket, you typically just have to pay the fine or deal with failure to appear. Driving on Suspended is a Class A Misdemeanor which is punishable by up to 364 days in jail and up to... Read more »

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2 Answers | Asked in Bankruptcy for Illinois on

Q: If I inherited a home 6 years before I file for a chapter 7 bankruptcy will the court take my inheritance from me

David Earl Phillips answered on Jan 7, 2019

The home will be property of the bankruptcy estate. Depending on the value of the home and your exemption will determine if the bankruptcy trustee will take the home and sell it. You really need a local bankruptcy lawyer to advise you of your options. Good luck!

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1 Answer | Asked in Bankruptcy for Illinois on

Q: I have read a couple of cases where pension income from state pensions are exempt. How would that affect chapt 13 plan

Or means test

Timothy Denison answered on Dec 3, 2018

Pension income is exempt although it can be used in the means test calculation as to whether there is presumptive abuse.

1 Answer | Asked in Bankruptcy for Illinois on

Q: Do companies have within a certain time limit to come after me for old debts? (10+ years)

Timothy Denison answered on Nov 23, 2018

Most statutes of limitations are 15 years if a written contract and 5 years for an oral contract.

2 Answers | Asked in Bankruptcy for Illinois on

Q: Does filing wipe out money I owe on taxes?

Stuart Nachbar answered on Nov 9, 2018

In most cases, the answer is no, it does not. There are certain limited instances that it does, and I suggest you consult with a live bankruptcy counsel in your area

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