Chapter 7 bankruptcy offers individuals overwhelmed by debt a fresh start. However, misconceptions often surround this legal process, leading to confusion and misinformation. Today, we will be debunking some of the most common misconceptions regarding Chapter 7 bankruptcy, empowering individuals with accurate knowledge and dispelling myths associated with this debt relief option. If you are considering filing for Chapter 7 bankruptcy, contact an experienced bankruptcy attorney to ensure you receive the critical legal guidance you need during this trying time. 
Losing Everything
One significant misconception is that filing for Chapter 7 bankruptcy means losing all assets. In reality, exceptions exist…
Continue Reading Debunking Common Misconceptions Regarding Chapter 7 Bankruptcy

Radon is a harmful substance that is found in the ground. Sometimes, radon can leach out of the ground and appear in the basement of residential homes. When a homeowner wants to sell, tests will usually be performed during the sale process to determine the home’s radon levels. If they come back showing high levels of radon, it can throw a wrench into the residential real estate transaction process. Deals can still go through, even with a high radon level, but they usually require some adjustment. 
Radon Is a Dangerous Gas
Radon is a gas that is created when…
Continue Reading How Can Radon Complicate the Sale of a Home?

Many people who file for bankruptcy believe that they will never be able to get any kind of credit in the future. They believe that things like a new car are out of reach. It is possible to get car loans after bankruptcy, but you will need to pay more for it. A Geneva bankruptcy lawyer can advise you of the potential effects of declaring bankruptcy and what could happen in the following years. 
You Can Get Some Types of Credit
In general, bankruptcy will remain on your record for seven years after the process concludes. The bankruptcy will continue…
Continue Reading Can I Buy a Car After Bankruptcy?

For most adults, the prospect of being unable to make your own decisions is not something we want to consider. While this is understandable, incapacitation planning is still a crucial part of the estate planning process. Planning for the possibility of severe illness is important regardless of your age, health, or financial circumstances.
A power of attorney is an estate planning tool that lets you choose another individual to make decisions on your behalf should you become incapacitated. In this blog, we will answer some of the most common questions people have about powers of attorney in Illinois.
What Does…
Continue Reading FAQs Regarding Powers of Attorney in Illinois

Many people assume that estate planning only deals with the distribution of assets after an individual’s death. However, testamentary planning is only part of the estate planning process. It is also essential to plan for the possibility of becoming incapacitated by illness or injury. If you became terminally ill and could not express your wishes regarding medical care, what types of care would you want? Do you want doctors to try everything to keep you alive as long as possible or would you prefer not to be placed on mechanical ventilation or to receive CPR?
These are extremely personal decisions,…
Continue Reading Living Wills and Incapacitation Planning

Anyone can find themselves facing bankruptcy. Whether caused by job loss, medical bills, an unmanageable mortgage, or other reasons, bankruptcy can be a difficult and stressful experience. For those facing Chapter 7 bankruptcy, the prospect of liquidation of assets can be foreboding. However, some assets are exempt from liquidation during this process. Certain items cannot be touched by creditors or the court-appointed trustee who will oversee the liquidation process.
Exemptions During Liquidation Bankruptcy
Many people hesitate to even consider bankruptcy because they assume that they will lose all of their possessions. Chapter 7 bankruptcy is often called “liquidation…
Continue Reading What Assets Are Exempt from Liquidation During Chapter 7 Bankruptcy in Illinois?

The experience of buying a home can be exciting, but it can also be a daunting task. One of the most important steps in the home-buying process is completing a title search. This process is designed to ensure that you are buying a home with clear legal ownership, free from liens or any other encumbrances. By performing a thorough title search, you can rest assured that you are the rightful owner of your new home.
What Is a Title Search?
When someone puts their home for sale on the market, it is only reasonable to assume that the seller has…
Continue Reading What Is a Title Search and Why Is It So Important?

If you are evaluating your estate planning options, you may have several questions about the advantages and disadvantages of various estate planning instruments. Trusts are popular options for passing assets to heirs in an estate plan. However, there are many different types of trusts, and the type of trust you choose will depend on your individual circumstances and goals. The two main categories of trusts are revocable and irrevocable trusts.
Benefits of a Revocable Trust
Revocable trusts, sometimes referred to as “living trusts” can be modified or revoked by the trust creator during his or her lifetime. This type of…
Continue Reading Comparing Revocable and Irrevocable Trusts

Bankruptcy can be a wonderful tool for escaping insurmountable debt, slowly righting your credit score, and stopping a barrage of collections efforts. However, it is important to enter the process of filing for bankruptcy with a clear and complete understanding of the effects these proceedings will have on your life, both in the short and long term. An inventory of assets should be taken, and a careful analysis to determine which form of bankruptcy would best serve your current interests conducted. These analyses are best conducted by a knowledgeable attorney who is aware of all relevant factors and can provide…
Continue Reading Questions to Ask Before Filing for Bankruptcy