Chang and Carlin, LLP: schaumburg bankruptcy attorneys

Showing posts with label schaumburg bankruptcy attorneys. Show all posts

Tuesday, 26 November 2013

Child Support During Bankruptcy

The law offices of Chang and Carlin have been helping thousands of families across Chicago to overcome financial crises and make a fresh start through Chapter 7 and Chapter 13 Bankruptcy.

For those saddled with debt and bearing the brunt of financial crises, bankruptcy is a last resort solution. While no one wants to file for bankruptcy, an increasing number of individuals and families have found themselves with no other means of absolving their debts. However, things may be a bit different for you if you have a child to support. If you are paying child support and are considering filing bankruptcy, you may want to know how a bankruptcy ruling will affect your child support obligations. So, here is some useful information on the subject, brought to you exclusively by Chang and Carlin, LLP’s expert Chicago Bankruptcy Lawyers.

Is a child support claim dischargeable through bankruptcy?

Child support payments generally cannot be discharged through bankruptcy. This means that a parent who owes child support cannot escape this duty by filing for bankruptcy. Bankruptcies do not act as a stay, or hold, on actions to establish paternity or to establish or modify child support obligations. The relationship between child support and bankruptcy is complex. To understand the details particular to your situation, you may need the help of an attorney familiar with bankruptcy law.

What does “in the nature of support” mean?

Debts "in the nature of support" for a child are basically any debts you incurred that relate to your child's welfare and upbringing, other than debts arising directly from child support payments owed.

What happens to the one receiving child support?

If you are the one receiving child support or alimony payments, but your ex-spouse’s or ex-partner’s payments are in arrears and he/she files for bankruptcy, you can submit a claim for the money owed to you, and make yourself a “preferred creditor”.

If you are unable to survive financially due to the added cost of child support payments, it's imperative that you speak with someone who can address questions that are specific to your circumstances. In addition, this individual should have a firm grasp of bankruptcy law, as well as family law. Chang and Carlin, LLP’s experienced Chicago bankruptcy attorneys can help you during the times of financial difficulty and will suggest you a solution specific to your circumstances.

To schedule a free initial legal consultation with a Schaumberg Bankruptcy Attorney, call Chang and Carlin, LLP today or Request a Free No Obligation Bankruptcy Filing Consultation Today.

Disclaimer: The content provided by Chang and Carlin, LLP is not legal advice and is purely for informational purposes. The information contained herein is not a substitute for the advice of an attorney and does not create an attorney-client relationship. If you are interested in obtaining information about Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, Foreclosure services, or Real Estate legal services, call our law firm at 1-866-790-8601 for a Free Legal Evaluation. Chang and Carlin, LLP serves clients in Chicago, Schaumburg, Joliet, and Warrenville.

Monday, 14 October 2013

All You Need To Know About Non Priority Debts

The Law Offices of Chang and Carlin guide individuals and families through their financial struggles, helping them make a fresh start through Chapter 7 and Chapter 13 Bankruptcy.

If you are in debt you're probably being harassed by people you owe money to (Your creditors) on a consistent basis. Before you start talking to your creditors, you'll need to sort out how much money you owe and who you owe it to. You'll also need to sort out which are the most urgent debts to pay and if you've got enough money pay them.

There are certain types of debts which need to be paid on urgent basis (priority debts) as the consequences of not paying them can be very serious. Therefore one needs to organize debts on the basis of urgency. In the view of expert Schaumberg bankruptcy attorneys, if you have the knowledge of priority and non-priority debts then you'll be able to organize your finances better.

Therefore, with the help of this article, let’s find out what are non-priority debts and the ways to deal with non-priority creditors.

Non-Priority debts

According to the experienced Chicago bankruptcy lawyers, there are certain types of debts which need not be paid on urgent basis. Such debts include-

· Benefits overpayment

· Credit debts such as overdrafts, loans, hire purchase, credit card accounts and catalogs

· Student loans

· Money borrowed from friends or family.

You can’t be sent to the prison for not paying the non-priority debts but, if you don’t make any efforts to pay without explaining then you may be dragged to the court by your creditors.

Ways to deal with Non-priority creditors

Maintaining good contact is the key to dealing with these creditors. If you are being bugged by the non-priority creditors then here’s what you need to do-

· Don't ignore letters or phone calls from your non-priority creditors. Get in touch with them as soon as possible once you know there are problems paying them.

· Write to them to explain why you're in debt, that you're trying to deal with your debts and that you'll contact them again shortly when you're in a position to know how much you can afford to pay.

· Ask them if you can stop paying interest on your debts in the meantime. This is called freezing the interest.

· When you write or speak to your creditors, make sure you explain your situation fully. If they know about your circumstances, they might be prepared to give you extra time to pay.

Reasonable Fees for Bankruptcy and Foreclosure Help for Illinois Residents + an Initial Free Consultation

These were some helpful tips that you can use to deal with non-priority creditors. However, if you still face difficulties dealing with the creditors you can always seek guidance from the expert Chicago bankruptcy attorneys at the law offices of Chang and Carlin.

Our goal at Chang and Carlin, LLP is to change your financial future. To book your appointment or get more information about Chapter 13 and Chapter 7 Bankruptcy in Chicago, contact us at 1-866-790-8601 or Request a Free No Obligation Bankruptcy Filing Consultation Today.

Thursday, 19 September 2013

Working In Tune With Your Bankruptcy Trustee

Chang and Carlin, LLP is a bankruptcy law firm in Chicago that offers confidential, personal legal advice, especially in the areas of residential real estate, bankruptcy, foreclosure, and IRS and tax issues.

When it comes to bankruptcy, having an attorney on your side is very important. He is the one who has the key to your bankruptcy discharge. According to Chang and Carlin, LLP’s Schaumburg Bankruptcy Attorneys, if you want to get your bankruptcy discharge, you should do all you can to remain in the good graces of your bankruptcy trustee. But the question is, how exactly do you do that? Let’s find an answer.

Who is the trustee in bankruptcy?

The trustee in bankruptcy will either be:

• the Official Receiver who is administering your bankruptcy
• a licensed insolvency practitioner

Whether or not a licensed insolvency practitioner will be appointed as trustee in bankruptcy will usually depend on whether there are significant assets to be realised or if realisation is likely to be complex.

Ways to deal with a trustee

• Cooperate with your bankruptcy trustee. Not only is it a good idea; it is required by the law! Failure to cooperate with your bankruptcy trustee could result in the dismissal of your bankruptcy case.
• Make sure you provide 60 days of pay stubs to the trustee well before the meeting of creditors. These should cover the 60 days PRIOR to the filing date.
• File your credit counselling certificates as soon as the required class is finished.
• Send the trustee your most recent tax return as soon as the case is filed.
• If you are recently divorced, be prepared to provide the bankruptcy trustee with records that show how the marital assets were divided or liquidated.
• Do not hide anything from your trustee, advises an experienced Chicago bankruptcy lawyer, from the law offices of Chang and Carlin.

Many see bankruptcy as a lonely journey into a new financial frontier; but in reality there are many people available to walk you down your new path to fiscal freedom, including family, friends, your bankruptcy trustee and your personal guide: Your bankruptcy attorney! The experienced Chicago Bankruptcy attorneys at the law offices of Chang and Carlin have the experience, compassion, and work ethic to see you through the bankruptcy process.

To book your appointment or for more information about Bankruptcy in Chicago, contact Chang and Carlin at 1-866-790-8601 or Request a Free No Obligation Bankruptcy Filing Consultation Today.

Disclaimer: The content provided by Chang and Carlin, LLP is not legal advice and is purely for informational purposes. The information contained herein is not a substitute for the advice of an attorney and does not create an attorney-client relationship. If you are interested in obtaining information about Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, Foreclosure services, or Real Estate legal services, call our law firm at 1-866-790-8601 for a Free Legal Evaluation. Chang and Carlin, LLP serves clients in Chicago, Schaumburg, Joliet, and Warrenville.

Monday, 26 August 2013

Undue Hardship Exception-Repaying Student Loans

Many students with student loan debts in Schaumburg, Chicago, Joliet and Warrenville area want to know how if it is possible to discharge student debts. Then asked this question, the experienced Schaumburg Bankruptcy attorneys at Chang and Carlin tell students that laws appear to be softening, which may enable them to discharge their student loan debts and lead a tension free life.

In the past, student debts were unforgivable regardless of the student’s financial situation. If you had student loans, they’d be with you until you paid them off. But now, it may be possible to get rid of your student loans in bankruptcy if can prove that repaying your student loans would cause an ‘undue hardship’ to you.

According to the experienced Chicago Bankruptcy lawyers at the law offices of Chang and Carlin, there are some ways to prove that:

The Brunner’s test

Some courts require you to take ‘the Brunner’s test’ for determining whether a student loan is dischargeable in bankruptcy based on a claim of undue hardship. One needs to prove the following things:

Poverty: That the debtor cannot maintain, based on current income and expenses, a minimal standard of living for the debtor and dependents if forced to pay off student loans.

Persistence: The additional circumstances exist indicating that this state of affairs is likely to persist for a significant portion of the repayment period of the student loans.

Good Faith: That the debtor has made good faith efforts to repay the loans.

Totality of circumstances test

Some courts may ask you to take-‘Totality of Circumstances Test’. Here, the court will look at all relevant factors in your case to determine if it is an undue hardship for you to repay your student loans.

How to prove undue hardship

If you want to try to discharge your student loans in bankruptcy, you must file a formal complaint with the bankruptcy court, called a Complaint to Determine Dischargeability. It is then up to you to prove to the court that payment of your loans will cause an undue hardship on you.

This student loan debt outlet is by no means fully established, as it has only prevailed in a few instances. However, if your student debt is crushing you and you meet the above criteria, it could be worth looking into with a Chicago Bankruptcy attorney.

Free Debt and Bankruptcy Consultation

Our experienced bankruptcy lawyers in Chicago can help you determine if you can discharge your student debt and will work with you to get your finances under control. For more information on Bankruptcy law or to schedule a FREE initial bankruptcy consultation, contact Chang and Carlin, LLP today!

Thursday, 18 July 2013

Finding a Job After Bankruptcy-Things You Need to Know

For those bearing the brunt of financial crises and saddled with debt, bankruptcy is a solution of last resort. While no one wants to file for bankruptcy, an increasing number of individuals and families have found themselves with no other means of absolving their debts. According to the experienced Schaumburg Bankruptcy attorneys at the law offices of Chang and Carlin, although bankruptcy is certainly not an asset to a job-seeker, it's not the nail in the coffin, either. Potential employers can take your new credit rating into consideration, but finding a job after bankruptcy is possible.

Here’s what you need to know about the effect of bankruptcy on your employment:

· An employer may pull your credit report as part of the job application process. However, they do not typically pull your complete report, only your credit score, as the full report costs more money than they are often willing to pay.

Chicago Bankruptcy Attorneys

The most common question that our Chicago bankruptcy attorneys are asked is, “Will my credit score reveal a bankruptcy filing?” The answer to this question is no. Your credit score is just a number, and will not reveal a bankruptcy filing.

· However, no matter what your credit score, you should never lie to a potential employer about your credit history. The best approach is to be upfront and inform the interviewer that you had a past bankruptcy but that your finances are now back on track, or at least you are working to get your finances in order.

· If you are applying for a federal job, the past bankruptcy should not prevent you from being hired. There are bankruptcy discrimination laws that prevent this practice by federal employers. However, there is no such law in the private sector. A private employer is not prohibited from discriminating on the basis of past bankruptcies.

· If you are presently employed somewhere, you will not lose your job because of bankruptcy but if you have a job that requires you to maintain a certain credit score as a condition of continued employment, then you may lose your job.

If you are currently looking for a job or in a job which may be affected by your bankruptcy filing, you can probably work out a solution. Talk to an experienced Chicago bankruptcy lawyer about the steps that will best safeguard your professional future.

For more information on Bankruptcy law or to schedule a FREE initial bankruptcy consultation with an experienced Chapter 13 bankruptcy lawyer Chicago, call Chang and Carlin, LLP today!