bankruptcy illinois



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Thanks to the new bankruptcy reform laws, many Americans who are overburdened by their credit card debt will no longer qualify for Chapter 7 bankruptcy protection. However, consumers need to know that an alternative exists for people to walk away from 100% of that debt, without bankruptcy, consolidation, or refinancing. The program is applicable to all major credit cards, unsecured lines-of-credit, and signature loans. The process that is used to discharge debt is based off of U.S. Supreme Courts decisions, Title 15 United State Code (USC) section 1692, the Fair Debt Collections Practices Act, section 1601, the Fair Credit Billing Act, the Uniform Commercial Code (UCC), section 203, and numerous Banking
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Lastest "bankruptcy illinois" News:

Former Illinois lawmaker in bankruptcy
Stephens filed last spring for Chapter 13 bankruptcy.
Wed, 25 Jan 2012 20:45:03 -0800

Former Rep. Ron Stephens filed for bankruptcy before resignation
The veteran Illinois legislator resigned on Aug. 1
Wed, 25 Jan 2012 11:22:09 -0800



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There are 2 sides to the changes in bankruptcy rules. It will be a lot harder to file bankruptcy under chapter 7 and get a totally clean slate. For businesses, relying on issuing credit, the new personal bankruptcy law is doing great, reducing personal bankruptcy claims from the thousands to double digits.(In the short run). However, lawyers working with the actual people filing for bankruptcy say that the new law is seriously flawed because it puts more financial burdens on already broke clients and reduces potential debt repayment to small businesses. And then of course you have the credit card companies charging high interest rates which in quite a
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